Virtus Investment Partners (NASDAQ:VRTS) Sees Unusually-High Trading Volume - Should You Buy?

Virtus Investment Partners, Inc. (NASDAQ:VRTS - Get Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 40,530 shares traded hands during mid-day trading, an increase of 2% from the previous session's volume of 39,813 shares.The stock last traded at $170.63 and had previously closed at $175.91.

Analyst Ratings Changes

Several analysts have commented on VRTS shares. Piper Sandler lowered their price target on Virtus Investment Partners from $274.00 to $258.00 and set an "overweight" rating for the company in a report on Tuesday, January 21st. Morgan Stanley dropped their price objective on Virtus Investment Partners from $211.00 to $198.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. Barclays lowered their price target 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, StockNews.com raised Virtus Investment Partners from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. Two equities 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $225.75.

Remove Ads

Virtus Investment Partners Stock Up 1.8 %

The firm has a 50-day simple moving average of $193.73 and a 200 day simple moving average of $212.02. The company has a market capitalization of $1.23 billion, a PE ratio of 10.44 and a beta of 1.49. 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 14th. Investors of record on Wednesday, April 30th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend is Wednesday, April 30th. Virtus Investment Partners's dividend payout ratio (DPR) is presently 53.25%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP lifted its holdings in Virtus Investment Partners by 388.5% in the 3rd quarter. Quarry LP now owns 127 shares of the closed-end fund's stock worth $27,000 after buying an additional 101 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Virtus Investment Partners by 170.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 200 shares of the closed-end fund's stock worth $44,000 after acquiring an additional 126 shares in the last quarter. R Squared Ltd purchased a new position in Virtus Investment Partners in the fourth quarter valued at about $75,000. KBC Group NV grew its stake in Virtus Investment Partners by 61.2% during the 4th quarter. KBC Group NV now owns 395 shares of the closed-end fund's stock valued at $87,000 after purchasing an additional 150 shares in the last quarter. Finally, Point72 DIFC Ltd increased its holdings in Virtus Investment Partners by 57.2% during the 3rd 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 last quarter. 80.52% of the stock is currently owned by hedge funds and other institutional investors.

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.