Kennondale Capital Management LLC Acquires Shares of 4,107 Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Kennondale Capital Management LLC bought a new position in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 4,107 shares of the closed-end fund's stock, valued at approximately $906,000. Kennondale Capital Management LLC owned about 0.06% of Virtus Investment Partners as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of VRTS. Quarry LP increased its stake 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 purchasing an additional 101 shares during the period. Smartleaf Asset Management LLC increased its stake in Virtus Investment Partners by 170.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 200 shares of the closed-end fund's stock worth $44,000 after purchasing an additional 126 shares during the period. R Squared Ltd purchased a new stake in Virtus Investment Partners during the fourth quarter worth about $75,000. KBC Group NV increased 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 purchasing an additional 150 shares during the period. Finally, Point72 DIFC Ltd increased its stake in Virtus Investment Partners by 57.2% during the third 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 period. 80.52% of the stock is owned by institutional investors and hedge funds.

Virtus Investment Partners Stock Down 1.2 %

VRTS traded down $2.21 on Friday, reaching $174.74. The company's stock had a trading volume of 136,625 shares, compared to its average volume of 36,505. The stock has a 50 day moving average of $190.08 and a two-hundred day moving average of $210.83. 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 capitalization of $1.22 billion, a price-to-earnings ratio of 10.34 and a beta of 1.49. Virtus Investment Partners, Inc. has a fifty-two week low of $167.13 and a fifty-two week high of $263.39.

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Virtus Investment Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Investors 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 5.15%. The ex-dividend date of this dividend is Wednesday, April 30th. Virtus Investment Partners's dividend payout ratio (DPR) is 53.25%.

Analyst Ratings Changes

VRTS has been the topic of a number of recent research reports. StockNews.com upgraded shares of Virtus Investment Partners from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. Morgan Stanley lowered their price objective on Virtus Investment Partners from $211.00 to $198.00 and set an "underweight" rating for the company in a research report on Thursday, February 6th. Barclays lowered their price objective on Virtus Investment Partners from $221.00 to $200.00 and set an "underweight" rating for the company in a research report on Monday, February 3rd. Finally, Piper Sandler lowered their price objective on Virtus Investment Partners from $274.00 to $258.00 and set an "overweight" rating for the company in a research report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Virtus Investment Partners has a consensus rating of "Hold" and an average price target of $225.75.

Virtus Investment Partners Company 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.