TD Cowen Issues Pessimistic Forecast for Virtus Investment Partners (NASDAQ:VRTS) Stock Price

Virtus Investment Partners (NASDAQ:VRTS - Free Report) had its target price trimmed by TD Cowen from $220.00 to $158.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a hold rating on the closed-end fund's stock.

VRTS has been the topic of several other reports. Piper Sandler cut their price target on shares of Virtus Investment Partners from $252.00 to $216.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. StockNews.com upgraded Virtus Investment Partners from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. 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 report on Monday, February 3rd. Finally, Morgan Stanley reduced their target price on Virtus Investment Partners from $211.00 to $198.00 and set an "underweight" rating on the stock in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $193.00.

Virtus Investment Partners Stock Up 0.9 %

Shares of NASDAQ:VRTS traded up $1.39 during trading on Wednesday, hitting $152.66. The company's stock had a trading volume of 42,267 shares, compared to its average volume of 40,448. 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 has a fifty-two week low of $144.13 and a fifty-two week high of $252.82. The stock's 50-day moving average price is $175.29 and its two-hundred day moving average price is $206.15. The company has a market capitalization of $1.06 billion, a PE ratio of 9.03 and a beta of 1.36.

Virtus Investment Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 5.90%. The ex-dividend date is Wednesday, April 30th. Virtus Investment Partners's dividend payout ratio is 53.25%.

Institutional Trading of Virtus Investment Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in shares of Virtus Investment Partners by 8,517.5% during the first quarter. GAMMA Investing LLC now owns 6,894 shares of the closed-end fund's stock valued at $1,188,000 after acquiring an additional 6,814 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Virtus Investment Partners by 174.7% in the fourth quarter. Mackenzie Financial Corp now owns 3,511 shares of the closed-end fund's stock valued at $774,000 after purchasing an additional 2,233 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Virtus Investment Partners by 5.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,329 shares of the closed-end fund's stock worth $3,822,000 after buying an additional 913 shares during the period. Voloridge Investment Management LLC grew its holdings in shares of Virtus Investment Partners by 23.0% during the fourth quarter. Voloridge Investment Management LLC now owns 2,831 shares of the closed-end fund's stock valued at $624,000 after buying an additional 529 shares in the last quarter. Finally, Vident Advisory LLC raised its position in Virtus Investment Partners by 4.5% during the fourth quarter. Vident Advisory LLC now owns 4,057 shares of the closed-end fund's stock valued at $895,000 after buying an additional 175 shares during the period. Institutional investors and hedge funds own 80.52% of the company's stock.

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.