Virtus Investment Partners (NASDAQ:VRTS) Shares Cross Below 50 Day Moving Average – Time to Sell?

Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $132.12 and traded as low as $131.50. Virtus Investment Partners shares last traded at $131.7850, with a volume of 124,417 shares trading hands.

Wall Street Analysts Forecast Growth

VRTS has been the topic of a number of recent research reports. Barclays lowered their price target on shares of Virtus Investment Partners from $135.00 to $117.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 14th. Zacks Research cut shares of Virtus Investment Partners from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 14th. TD Cowen cut their price objective on shares of Virtus Investment Partners from $155.00 to $136.00 and set a “hold” rating for the company in a report on Monday, October 12th. Morgan Stanley cut their price objective on shares of Virtus Investment Partners from $130.00 to $120.00 and set an “underweight” rating for the company in a report on Friday, September 25th. Finally, Piper Sandler increased their target price on shares of Virtus Investment Partners from $146.00 to $162.00 and gave the stock an “overweight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $133.75.

Virtus Investment Partners Stock Performance

The stock has a market cap of $816.75 million, a P/E ratio of 7.37 and a beta of 1.44. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27. The stock has a 50 day simple moving average of $130.87 and a 200 day simple moving average of $143.47.

Virtus Investment Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a dividend of $2.45 per share. This is a positive change from Virtus Investment Partners’s previous quarterly dividend of $2.40. This represents a $9.80 annualized dividend and a yield of 7.9%. The ex-dividend date of this dividend is Friday, October 30th. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 60.64%.

Insider Transactions at Virtus Investment Partners

In other Virtus Investment Partners news, Director W. Morris sold 435 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $138.59, for a total transaction of $60,286.65. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Virtus Investment Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Virtus Investment Partners during the first quarter valued at approximately $26,000. IFP Advisors Inc increased its stake in shares of Virtus Investment Partners by 158.6% in the 2nd quarter. IFP Advisors Inc now owns 181 shares of the closed-end fund’s stock valued at $26,000 after purchasing an additional 111 shares during the last quarter. Signaturefd LLC increased its stake in shares of Virtus Investment Partners by 150.0% in the 3rd quarter. Signaturefd LLC now owns 260 shares of the closed-end fund’s stock valued at $34,000 after purchasing an additional 156 shares during the last quarter. Caitlin John LLC bought a new position in shares of Virtus Investment Partners in the 2nd quarter valued at $35,000. Finally, Assetmark Inc. acquired a new position in shares of Virtus Investment Partners during the 1st quarter worth $36,000. 80.52% of the stock is currently owned by institutional investors and hedge funds.

Virtus Investment Partners Company Profile

Virtus Investment Partners is an asset management company that offers investment products and services to individual investors, financial advisers, and institutions. It uses a multi-manager approach, bringing together specialized investment managers with distinct strategies and areas of expertise. Its offerings include mutual funds, exchange-traded funds, closed-end funds, separately managed accounts, and alternative investment strategies. The company distributes these products primarily through financial intermediaries and also works with institutional clients.