Virtus Investment Partners (NASDAQ:VRTS) Sets New 12-Month Low - Time to Sell?

Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $160.17 and last traded at $163.88, with a volume of 15727 shares changing hands. The stock had previously closed at $175.01.

Analyst Ratings Changes

VRTS has been the subject of a number of analyst reports. StockNews.com raised Virtus Investment Partners from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. Piper Sandler lowered their price target on shares of Virtus Investment Partners from $252.00 to $216.00 and set an "overweight" rating for the company in a report on Tuesday. Morgan Stanley reduced their price objective on shares of Virtus Investment Partners from $211.00 to $198.00 and set an "underweight" rating on the stock in a report on Thursday, February 6th. Finally, Barclays lowered their target price on shares of Virtus Investment Partners from $221.00 to $200.00 and set an "underweight" rating for the company in a research note on Monday, February 3rd. Two 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 currently has an average rating of "Hold" and an average price target of $215.25.

Virtus Investment Partners Trading Down 2.6 %

The company has a market cap of $1.02 billion, a price-to-earnings ratio of 8.70 and a beta of 1.36. 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 business's fifty day simple moving average is $179.00 and its two-hundred day simple moving average is $207.64.

Virtus Investment Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $9.00 annualized dividend and a yield of 6.12%. Virtus Investment Partners's dividend payout ratio is currently 53.25%.

Hedge Funds Weigh In On Virtus Investment Partners

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position 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 valued at $1,188,000 after purchasing an additional 6,814 shares during the period. Mackenzie Financial Corp lifted its stake in 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 buying an additional 2,233 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 valued at $3,822,000 after acquiring an additional 913 shares during the period. Voloridge Investment Management LLC grew its position 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 worth $624,000 after acquiring an additional 529 shares during the last quarter. Finally, Vident Advisory LLC grew its position in shares of 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 worth $895,000 after acquiring an additional 175 shares during the last quarter. Hedge funds and other institutional investors 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.