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

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

Wall Street Analyst Weigh In

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

Virtus Investment Partners Trading Up 0.5 %

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

Virtus Investment Partners Dividend Announcement

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

Institutional Investors Weigh In On Virtus Investment Partners

Several hedge funds have recently modified their holdings of the company. Quarry LP raised its position in shares of Virtus Investment Partners by 388.5% during the 3rd quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock worth $27,000 after purchasing an additional 101 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Virtus Investment Partners during the second quarter worth $42,000. nVerses Capital LLC purchased a new position in shares of Virtus Investment Partners in the third quarter worth about $42,000. Blue Trust Inc. raised its holdings in Virtus Investment Partners by 138.3% in the 3rd quarter. Blue Trust Inc. now owns 317 shares of the closed-end fund’s stock valued at $72,000 after acquiring an additional 184 shares during the last quarter. Finally, Point72 DIFC Ltd boosted its holdings in shares of Virtus Investment Partners by 57.2% during the 3rd quarter. Point72 DIFC Ltd now owns 610 shares of the closed-end fund’s stock worth $128,000 after purchasing an additional 222 shares during the last quarter. 80.52% of the stock is owned by hedge funds and other institutional investors.

About Virtus Investment Partners

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.