Virtus Investment Partners (NASDAQ:VRTS) Hits New 1-Year Low on Analyst Downgrade

Virtus Investment Partners, Inc. (NASDAQ:VRTS) reached a new 52-week low during mid-day trading on Thursday after Morgan Stanley lowered their price target on the stock from $155.00 to $125.00. Morgan Stanley currently has an underweight rating on the stock. Virtus Investment Partners traded as low as $123.35 and last traded at $124.1540, with a volume of 19706 shares. The stock had previously closed at $131.12.

VRTS has been the topic of several other research reports. Barclays reaffirmed an “underweight” rating and issued a $142.00 price target on shares of Virtus Investment Partners in a report on Monday, February 9th. Zacks Research raised Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a research note on Friday, January 16th. TD Cowen reduced their target price on Virtus Investment Partners from $180.00 to $173.00 and set a “hold” rating for the company in a research report on Wednesday, January 14th. Finally, Piper Sandler decreased their target price on Virtus Investment Partners from $218.00 to $206.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Virtus Investment Partners presently has a consensus rating of “Reduce” and an average price target of $161.50.

Insider Activity at Virtus Investment Partners

In related news, Director W Howard Morris acquired 2,150 shares of the stock in a transaction dated Thursday, March 12th. The shares were purchased at an average price of $129.34 per share, for a total transaction of $278,081.00. Following the transaction, the director owned 2,000 shares in the company, valued at $258,680. This represents a -1,433.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 6.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd raised its position in Virtus Investment Partners by 1.5% during the third quarter. Y Intercept Hong Kong Ltd now owns 4,670 shares of the closed-end fund’s stock valued at $887,000 after purchasing an additional 67 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Virtus Investment Partners by 24.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 499 shares of the closed-end fund’s stock worth $81,000 after purchasing an additional 97 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of Virtus Investment Partners by 1.9% during the 4th quarter. New York State Teachers Retirement System now owns 5,401 shares of the closed-end fund’s stock valued at $881,000 after purchasing an additional 100 shares during the last quarter. Swiss National Bank increased its position in shares of Virtus Investment Partners by 0.8% during the 3rd quarter. Swiss National Bank now owns 12,700 shares of the closed-end fund’s stock valued at $2,413,000 after purchasing an additional 100 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Virtus Investment Partners by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,952 shares of the closed-end fund’s stock valued at $681,000 after buying an additional 103 shares in the last quarter. 80.52% of the stock is currently owned by hedge funds and other institutional investors.

Virtus Investment Partners Trading Down 2.9%

The stock has a fifty day moving average of $140.65 and a two-hundred day moving average of $160.85. The company has a market capitalization of $852.31 million, a PE ratio of 7.53 and a beta of 1.47. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th will be issued a $2.40 dividend. This represents a $9.60 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date is Thursday, April 30th. Virtus Investment Partners’s payout ratio is presently 48.02%.

Virtus Investment Partners Company Profile

Virtus Investment Partners (NASDAQ: VRTS) is a publicly traded investment management company headquartered in Hartford, Connecticut. The firm offers a broad range of investment solutions to institutional, high-net-wealth, and retail investors, drawing on the expertise of multiple affiliated investment teams. Since its founding in 1995, Virtus has grown by integrating specialized asset managers and expanding its product lineup, while maintaining a focus on active management across diverse market environments.

The company’s product suite encompasses mutual funds, closed-end funds, exchange-traded funds (ETFs), collective trusts, UCITS funds, and separately managed accounts.