Virtus Investment Partners (NASDAQ:VRTS) Stock Price Down 1.1% – What’s Next?

Virtus Investment Partners, Inc. (NASDAQ:VRTS)’s stock price dropped 1.1% on Tuesday . The stock traded as low as $218.30 and last traded at $218.30. Approximately 206 shares changed hands during trading, a decline of 100% from the average daily volume of 42,473 shares. The stock had previously closed at $220.65.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Virtus Investment Partners from $264.00 to $274.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. StockNews.com raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Monday, December 16th. Morgan Stanley boosted their price target on Virtus Investment Partners from $224.00 to $228.00 and gave the company an “underweight” rating in a research note on Friday, December 20th. Finally, Barclays increased their price target on Virtus Investment Partners from $212.00 to $239.00 and gave the stock an “underweight” rating in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $247.00.

Virtus Investment Partners Price Performance

The stock’s 50-day moving average is $233.27 and its two-hundred day moving average is $221.17. The company has a market capitalization of $1.56 billion, a PE ratio of 13.48 and a beta of 1.46. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27.

Virtus Investment Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Friday, January 31st will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend is Friday, January 31st. Virtus Investment Partners’s payout ratio is currently 54.71%.

Institutional Trading of Virtus Investment Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its stake in Virtus Investment Partners by 3.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,377 shares of the closed-end fund’s stock worth $537,000 after buying an additional 73 shares during the period. Picton Mahoney Asset Management bought a new stake in shares of Virtus Investment Partners during the second quarter valued at approximately $164,000. Versor Investments LP purchased a new stake in shares of Virtus Investment Partners in the second quarter valued at approximately $429,000. Los Angeles Capital Management LLC grew its stake in Virtus Investment Partners by 2.3% in the second quarter. Los Angeles Capital Management LLC now owns 3,717 shares of the closed-end fund’s stock worth $839,000 after purchasing an additional 85 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in Virtus Investment Partners by 183.0% during the 2nd quarter. Quest Partners LLC now owns 8,287 shares of the closed-end fund’s stock worth $1,872,000 after purchasing an additional 5,359 shares during the period. 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.