Virtus Investment Partners (NASDAQ:VRTS) Sets New 52-Week Low – Here’s Why

Virtus Investment Partners, Inc. (NASDAQ:VRTS)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $181.65 and last traded at $183.69, with a volume of 55820 shares. The stock had previously closed at $188.90.

Analysts Set New Price Targets

Several equities analysts have commented on VRTS shares. Barclays dropped their price target on shares of Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating for the company in a research note on Monday, February 3rd. Morgan Stanley cut their price target on Virtus Investment Partners from $211.00 to $198.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. StockNews.com downgraded Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Finally, Piper Sandler decreased their price target on Virtus Investment Partners from $274.00 to $258.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $225.75.

Virtus Investment Partners Price Performance

The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $215.60 and a two-hundred day simple moving average of $216.23. The company has a market cap of $1.29 billion, a PE ratio of 7.26 and a beta of 1.47.

Virtus Investment Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Friday, January 31st were paid a $2.25 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.90%. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 53.25%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Handelsbanken Fonder AB lifted its position in shares of Virtus Investment Partners by 8.3% during the 4th quarter. Handelsbanken Fonder AB now owns 1,300 shares of the closed-end fund’s stock valued at $287,000 after acquiring an additional 100 shares during the period. Quarry LP increased its stake in Virtus Investment Partners by 388.5% in the 3rd quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock valued at $27,000 after purchasing an additional 101 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Virtus Investment Partners by 11.9% during the third quarter. QRG Capital Management Inc. now owns 1,174 shares of the closed-end fund’s stock worth $246,000 after purchasing an additional 125 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Virtus Investment Partners by 170.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 200 shares of the closed-end fund’s stock worth $44,000 after purchasing an additional 126 shares in the last quarter. Finally, KBC Group NV grew its holdings in Virtus Investment Partners by 61.2% in the fourth quarter. KBC Group NV now owns 395 shares of the closed-end fund’s stock valued at $87,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Company Profile

Virtus Investment Partners, Inc is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients.