Virtus Investment Partners (NASDAQ:VRTS) Hits New 12-Month Low on Analyst Downgrade

Virtus Investment Partners, Inc. (NASDAQ:VRTS)’s share price hit a new 52-week low during mid-day trading on Friday after Morgan Stanley lowered their price target on the stock from $211.00 to $198.00. Morgan Stanley currently has an underweight rating on the stock. Virtus Investment Partners traded as low as $190.11 and last traded at $190.57, with a volume of 4371 shares traded. The stock had previously closed at $191.27.

Other research analysts have also issued research reports about the stock. StockNews.com lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Piper Sandler cut their price target on shares of Virtus Investment Partners from $274.00 to $258.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Finally, Barclays cut their price target on shares of Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating on the stock in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $225.75.

Institutional Investors Weigh In On Virtus Investment Partners

Several institutional investors have recently bought and sold shares of VRTS. Quarry LP grew its position in Virtus Investment Partners by 388.5% in the third 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. nVerses Capital LLC bought a new position in Virtus Investment Partners in the third quarter valued at $42,000. Smartleaf Asset Management LLC raised its holdings 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 acquiring an additional 126 shares in the last quarter. Blue Trust Inc. raised its holdings in Virtus Investment Partners by 138.3% during the third quarter. Blue Trust Inc. now owns 317 shares of the closed-end fund’s stock worth $72,000 after acquiring an additional 184 shares in the last quarter. Finally, R Squared Ltd bought a new stake in Virtus Investment Partners during the fourth quarter worth about $75,000. Institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Stock Down 1.4 %

The firm has a market cap of $1.32 billion, a P/E ratio of 11.16 and a beta of 1.47. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27. The firm has a fifty day moving average of $220.56 and a 200-day moving average of $217.88.

Virtus Investment Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Friday, January 31st will be paid a $2.25 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $9.00 annualized dividend and a dividend yield of 4.77%. Virtus Investment Partners’s dividend payout ratio is presently 53.25%.

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.