Virtus Investment Partners (NASDAQ:VRTS) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Virtus Investment Partners, Inc. (NASDAQ:VRTS)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $146.01 and traded as high as $166.02. Virtus Investment Partners shares last traded at $162.10, with a volume of 142,992 shares traded.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VRTS. Morgan Stanley upped their price objective on shares of Virtus Investment Partners from $112.00 to $119.00 and gave the company an “underweight” rating in a research note on Friday, June 26th. TD Cowen boosted their target price on Virtus Investment Partners from $136.00 to $147.00 and gave the company a “hold” rating in a report on Monday. Barclays upped their target price on Virtus Investment Partners from $125.00 to $141.00 and gave the company an “underweight” rating in a research report on Tuesday, July 14th. Finally, Piper Sandler dropped their price target on Virtus Investment Partners from $181.00 to $170.00 and set an “overweight” rating on the stock in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Virtus Investment Partners presently has a consensus rating of “Reduce” and an average target price of $144.25.

Virtus Investment Partners Stock Performance

The stock has a market cap of $1.10 billion, a PE ratio of 9.72 and a beta of 1.38. The firm’s 50-day moving average is $147.29 and its 200 day moving average is $146.01. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a $2.40 dividend. This represents a $9.60 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Friday, July 31st. Virtus Investment Partners’s dividend payout ratio is presently 56.50%.

Hedge Funds Weigh In On Virtus Investment Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in VRTS. GAMMA Investing LLC increased its position in Virtus Investment Partners by 86.2% in the 2nd quarter. GAMMA Investing LLC now owns 270 shares of the closed-end fund’s stock valued at $39,000 after acquiring an additional 125 shares during the period. Empowered Funds LLC acquired a new stake in Virtus Investment Partners during the 1st quarter worth approximately $2,058,000. Renaissance Technologies LLC lifted its position in Virtus Investment Partners by 73.1% during the 1st quarter. Renaissance Technologies LLC now owns 27,229 shares of the closed-end fund’s stock worth $3,658,000 after acquiring an additional 11,500 shares during the period. Sei Investments Co. grew its stake in shares of Virtus Investment Partners by 135.4% in the 1st quarter. Sei Investments Co. now owns 30,963 shares of the closed-end fund’s stock valued at $4,160,000 after purchasing an additional 17,811 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Virtus Investment Partners by 38.1% in the 1st quarter. First Trust Advisors LP now owns 52,930 shares of the closed-end fund’s stock valued at $7,111,000 after purchasing an additional 14,600 shares during the last quarter. Hedge funds and other institutional investors own 80.52% of the company’s stock.

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.