MQS Management LLC Makes New Investment in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

MQS Management LLC bought a new position in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,644 shares of the closed-end fund's stock, valued at approximately $283,000.

Other institutional investors have also recently modified their holdings of the company. Amundi raised its position in Virtus Investment Partners by 165.6% in the 4th quarter. Amundi now owns 3,734 shares of the closed-end fund's stock worth $803,000 after buying an additional 2,328 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Virtus Investment Partners in the 4th quarter worth about $659,000. Picton Mahoney Asset Management purchased a new position in Virtus Investment Partners in the 4th quarter worth about $534,000. Kennondale Capital Management LLC purchased a new position in Virtus Investment Partners in the 4th quarter worth about $906,000. Finally, Teacher Retirement System of Texas raised its position in Virtus Investment Partners by 17.9% in the 4th quarter. Teacher Retirement System of Texas now owns 9,036 shares of the closed-end fund's stock worth $1,993,000 after buying an additional 1,375 shares during the last quarter. 80.52% of the stock is owned by hedge funds and other institutional investors.

Virtus Investment Partners Price Performance

Shares of VRTS stock traded down $3.73 on Friday, reaching $206.60. The company's stock had a trading volume of 29,119 shares, compared to its average volume of 53,494. Virtus Investment Partners, Inc. has a 1 year low of $142.18 and a 1 year high of $252.82. 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's fifty day simple moving average is $181.17 and its 200-day simple moving average is $180.83. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 12.22 and a beta of 1.44.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The closed-end fund reported $5.73 EPS for the quarter, beating the consensus estimate of $5.68 by $0.05. Virtus Investment Partners had a net margin of 13.42% and a return on equity of 21.56%. The business had revenue of $217.93 million during the quarter, compared to analyst estimates of $201.99 million. During the same quarter last year, the business earned $5.41 earnings per share. Analysts forecast that Virtus Investment Partners, Inc. will post 27.7 earnings per share for the current fiscal year.

Virtus Investment Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Thursday, July 31st. Virtus Investment Partners's payout ratio is 53.41%.

Analysts Set New Price Targets

VRTS has been the subject of a number of recent analyst reports. TD Cowen decreased their target price on Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Barclays raised their target price on shares of Virtus Investment Partners from $150.00 to $190.00 and gave the stock an "underweight" rating in a research note on Wednesday. Morgan Stanley set a $171.00 price objective on shares of Virtus Investment Partners and gave the company an "underweight" rating in a report on Wednesday, July 2nd. Wall Street Zen raised shares of Virtus Investment Partners from a "hold" rating to a "buy" rating in a report on Monday, May 19th. Finally, Piper Sandler cut their price objective on shares of Virtus Investment Partners from $216.00 to $211.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Virtus Investment Partners presently has an average rating of "Hold" and a consensus target price of $182.50.

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.