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

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

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Principal Financial Group Inc. lifted its holdings in shares of Virtus Investment Partners by 3.4% during the first quarter. Principal Financial Group Inc. now owns 39,629 shares of the closed-end fund's stock valued at $6,830,000 after purchasing an additional 1,290 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Virtus Investment Partners by 55.3% in the first quarter. Teacher Retirement System of Texas now owns 14,035 shares of the closed-end fund's stock worth $2,419,000 after acquiring an additional 4,999 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Virtus Investment Partners by 35.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,957 shares of the closed-end fund's stock valued at $510,000 after acquiring an additional 781 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Virtus Investment Partners by 11.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,376 shares of the closed-end fund's stock worth $931,000 after purchasing an additional 558 shares during the last quarter. Finally, Transcend Capital Advisors LLC bought a new position in Virtus Investment Partners in the 1st quarter worth about $1,204,000. Hedge funds and other institutional investors own 80.52% of the company's stock.

Virtus Investment Partners Stock Performance

Shares of VRTS traded up $7.31 during mid-day trading on Wednesday, hitting $208.48. 123,401 shares of the company traded hands, compared to its average volume of 53,577. Virtus Investment Partners, Inc. has a 1 year low of $142.18 and a 1 year high of $252.82. 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 stock has a 50-day moving average price of $180.29 and a two-hundred day moving average price of $180.90. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 12.34 and a beta of 1.44.

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

Virtus Investment Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Thursday, July 31st. Virtus Investment Partners's payout ratio is currently 53.41%.

Analyst Ratings Changes

A number of research firms have weighed in on VRTS. Piper Sandler reduced 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 research note on Thursday, April 17th. Barclays increased their price target on shares of Virtus Investment Partners from $150.00 to $190.00 and gave the company an "underweight" rating in a report on Wednesday. Morgan Stanley set a $171.00 price objective on shares of Virtus Investment Partners and gave the stock an "underweight" rating in a report on Wednesday, July 2nd. Wall Street Zen raised Virtus Investment Partners from a "hold" rating to a "buy" rating in a research report on Monday, May 19th. Finally, TD Cowen reduced their target price on Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Virtus Investment Partners 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.