Virtus Investment Partners (NASDAQ:VRTS) Hits New 52-Week Low Following Analyst Downgrade

Virtus Investment Partners, Inc. (NASDAQ:VRTS) reached a new 52-week low 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 trading hands. The stock had previously closed at $131.12.

Several other equities research analysts also recently commented on the company. TD Cowen reduced their price objective on Virtus Investment Partners from $180.00 to $173.00 and set a “hold” rating for the company in a report on Wednesday, January 14th. Zacks Research raised shares of Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a report on Friday, January 16th. Piper Sandler reduced their price target on shares of Virtus Investment Partners from $218.00 to $206.00 and set an “overweight” rating for the company in a research note on Wednesday, February 4th. Finally, Barclays reissued an “underweight” rating and set a $142.00 price objective on shares of Virtus Investment Partners in a report on Monday, February 9th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $161.50.

Insider Buying and Selling

In other Virtus Investment Partners news, Director W Howard Morris bought 2,150 shares of Virtus Investment Partners stock in a transaction on Thursday, March 12th. The stock was acquired at an average cost of $129.34 per share, with a total value of $278,081.00. Following the completion of the acquisition, the director owned 2,000 shares in the company, valued at approximately $258,680. This represents a -1,433.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Virtus Investment Partners

A number of institutional investors have recently bought and sold shares of VRTS. NBT Bank N A NY lifted its position in shares of Virtus Investment Partners by 1,483.3% in the third quarter. NBT Bank N A NY now owns 190 shares of the closed-end fund’s stock worth $36,000 after buying an additional 178 shares in the last quarter. Aster Capital Management DIFC Ltd raised its holdings in shares of Virtus Investment Partners by 269.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 307 shares of the closed-end fund’s stock worth $50,000 after acquiring an additional 224 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of Virtus Investment Partners by 90.4% during the 2nd quarter. Osaic Holdings Inc. now owns 316 shares of the closed-end fund’s stock valued at $57,000 after acquiring an additional 150 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Virtus Investment Partners by 24.1% in the fourth 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 during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Virtus Investment Partners by 117.0% during the fourth quarter. Advisors Asset Management Inc. now owns 588 shares of the closed-end fund’s stock valued at $96,000 after purchasing an additional 317 shares in the last quarter. Hedge funds and other institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Stock Down 6.4%

The firm has a market cap of $821.56 million, a P/E ratio of 7.26 and a beta of 1.47. The company’s 50-day simple moving average is $141.47 and its 200 day simple moving average is $161.09. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86.

Virtus Investment Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 13th. Investors of record on Thursday, April 30th will be given a $2.40 dividend. The ex-dividend date is Thursday, April 30th. This represents a $9.60 annualized dividend and a yield of 7.8%. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 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.