Virtus Investment Partners (NASDAQ:VRTS) Hits New 1-Year Low – Time to Sell?

Virtus Investment Partners, Inc. (NASDAQ:VRTS) shares hit a new 52-week low during trading on Monday . The company traded as low as $174.81 and last traded at $174.45, with a volume of 14718 shares trading hands. The stock had previously closed at $181.64.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Barclays dropped their target price on shares of Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating on the stock in a report on Monday, February 3rd. Morgan Stanley dropped their price objective on Virtus Investment Partners from $211.00 to $198.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. StockNews.com upgraded Virtus Investment Partners from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Finally, Piper Sandler dropped their price target on 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. 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 MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $225.75.

Virtus Investment Partners Trading Down 5.2 %

The business has a fifty day moving average price of $198.51 and a 200-day moving average price of $213.39. 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 company has a market cap of $1.20 billion, a P/E ratio of 10.18 and a beta of 1.49.

Virtus Investment Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date is Wednesday, April 30th. Virtus Investment Partners’s dividend payout ratio is currently 53.25%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Quarry LP grew its position in Virtus Investment Partners by 388.5% during the third quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock worth $27,000 after buying an additional 101 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Virtus Investment Partners by 170.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 200 shares of the closed-end fund’s stock valued at $44,000 after purchasing an additional 126 shares in the last quarter. R Squared Ltd bought a new stake in Virtus Investment Partners during the fourth quarter worth about $75,000. KBC Group NV grew its stake in Virtus Investment Partners by 61.2% during the fourth quarter. KBC Group NV now owns 395 shares of the closed-end fund’s stock worth $87,000 after buying an additional 150 shares in the last quarter. Finally, Point72 DIFC Ltd increased its stake in Virtus Investment Partners by 57.2% in the third quarter. Point72 DIFC Ltd now owns 610 shares of the closed-end fund’s stock valued at $128,000 after acquiring an additional 222 shares during the last quarter. 80.52% of the stock is owned by 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.