6,988 Shares in Virtus Investment Partners, Inc. (NASDAQ:VRTS) Purchased by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC bought a new position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,988 shares of the closed-end fund’s stock, valued at approximately $1,204,000. Transcend Capital Advisors LLC owned 0.10% of Virtus Investment Partners at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Virtus Investment Partners by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,849 shares of the closed-end fund’s stock worth $849,000 after buying an additional 152 shares during the period. GAMMA Investing LLC raised its holdings in shares of Virtus Investment Partners by 8,517.5% in the 1st quarter. GAMMA Investing LLC now owns 6,894 shares of the closed-end fund’s stock worth $1,188,000 after purchasing an additional 6,814 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Virtus Investment Partners by 8.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 276,880 shares of the closed-end fund’s stock worth $61,074,000 after purchasing an additional 21,344 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Virtus Investment Partners in the 4th quarter worth about $353,000. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of Virtus Investment Partners by 43.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 7,802 shares of the closed-end fund’s stock worth $1,721,000 after purchasing an additional 2,357 shares during the period. 80.52% of the stock is currently owned by hedge funds and other institutional investors.

Virtus Investment Partners Price Performance

VRTS stock opened at $183.36 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. Virtus Investment Partners, Inc. has a 1 year low of $142.18 and a 1 year high of $252.82. The firm has a market cap of $1.27 billion, a P/E ratio of 10.85 and a beta of 1.45. The stock has a 50-day simple moving average of $168.96 and a 200-day simple moving average of $183.63.

Virtus Investment Partners (NASDAQ:VRTS) last posted its earnings results on Friday, April 25th. The closed-end fund reported $5.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.68 by $0.05. Virtus Investment Partners had a return on equity of 21.56% and a net margin of 13.42%. The business had revenue of $217.93 million during the quarter, compared to analyst estimates of $201.99 million. During the same quarter last year, the firm earned $5.41 earnings per share. On average, equities analysts predict that Virtus Investment Partners, Inc. will post 27.7 earnings per share for the current fiscal year.

Virtus Investment Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be paid a $2.25 dividend. The ex-dividend date is Thursday, July 31st. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.91%. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 53.41%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Morgan Stanley raised their price objective on Virtus Investment Partners from $149.00 to $152.00 and gave the stock an “underweight” rating in a report on Tuesday, May 6th. Wall Street Zen upgraded Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Monday, May 19th. TD Cowen cut their price objective on Virtus Investment Partners from $220.00 to $158.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Barclays set a $150.00 price objective on Virtus Investment Partners and gave the stock an “underweight” rating in a report on Monday, April 28th. Finally, Piper Sandler cut their price objective on Virtus Investment Partners from $216.00 to $211.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. 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 company’s stock. Based on data from MarketBeat, Virtus Investment Partners presently has a consensus rating of “Hold” and a consensus target price of $167.75.

Virtus Investment Partners 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.