Virtus Investment Partners (NASDAQ:VRTS) Shares Gap Down – Time to Sell?

Virtus Investment Partners, Inc. (NASDAQ:VRTS)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $145.55, but opened at $135.90. Virtus Investment Partners shares last traded at $127.15, with a volume of 7,076 shares.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Piper Sandler lowered their price objective on Virtus Investment Partners from $218.00 to $206.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. TD Cowen reaffirmed a “hold” rating on shares of Virtus Investment Partners in a research report on Monday, April 20th. Barclays lowered their price objective on Virtus Investment Partners from $142.00 to $128.00 and set an “underweight” rating for the company in a research report on Friday, April 17th. Zacks Research raised Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Morgan Stanley lowered their price objective on Virtus Investment Partners from $155.00 to $125.00 and set an “underweight” rating for the company in a research report on Wednesday, April 1st. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $158.00.

Virtus Investment Partners Trading Down 6.2%

The stock has a market capitalization of $912.33 million, a price-to-earnings ratio of 8.08 and a beta of 1.47. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. The business has a 50-day moving average of $136.05 and a 200-day moving average of $153.68.

Virtus Investment Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 13th. Investors of record on Thursday, April 30th will be given a $2.40 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $9.60 dividend on an annualized basis and a dividend yield of 7.0%. Virtus Investment Partners’s dividend payout ratio is 48.02%.

Insider Activity

In other news, Director W Howard Morris bought 2,150 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average cost of $129.34 per share, with a total value of $278,081.00. Following the transaction, the director directly owned 2,000 shares in the company, valued at $258,680. This trade represents a -1,433.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.40% of the stock is currently owned by company insiders.

Institutional Trading of Virtus Investment Partners

A number of large investors have recently made changes to their positions in VRTS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Virtus Investment Partners by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,952 shares of the closed-end fund’s stock valued at $681,000 after purchasing an additional 103 shares during the period. Millennium Management LLC boosted its position in shares of Virtus Investment Partners by 10.8% in the 1st quarter. Millennium Management LLC now owns 58,788 shares of the closed-end fund’s stock valued at $10,133,000 after purchasing an additional 5,734 shares during the period. Jane Street Group LLC boosted its position in shares of Virtus Investment Partners by 57.4% in the 1st quarter. Jane Street Group LLC now owns 15,543 shares of the closed-end fund’s stock valued at $2,679,000 after purchasing an additional 5,671 shares during the period. Intech Investment Management LLC boosted its position in shares of Virtus Investment Partners by 20.8% in the 1st quarter. Intech Investment Management LLC now owns 6,587 shares of the closed-end fund’s stock valued at $1,135,000 after purchasing an additional 1,134 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Virtus Investment Partners by 26.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 11,776 shares of the closed-end fund’s stock valued at $2,136,000 after acquiring an additional 2,429 shares during the last quarter. 80.52% of the stock is owned by institutional investors and hedge funds.

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.