Virtus Investment Partners (NASDAQ:VRTS) Sees Unusually-High Trading Volume - What's Next?

Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Get Free Report) saw unusually-high trading volume on Monday . Approximately 53,613 shares changed hands during trading, an increase of 11% from the previous session's volume of 48,274 shares.The stock last traded at $180.85 and had previously closed at $183.19.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Barclays set a $150.00 target price on shares of Virtus Investment Partners and gave the company an "underweight" rating in a research note on Monday, April 28th. TD Cowen cut their target price on Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Piper Sandler decreased their price target on 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. Morgan Stanley boosted their target price on Virtus Investment Partners from $149.00 to $152.00 and gave the stock an "underweight" rating in a report on Tuesday, May 6th. Finally, Wall Street Zen upgraded Virtus Investment Partners from a "hold" rating to a "buy" rating in a report on Monday, May 19th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Virtus Investment Partners has a consensus rating of "Hold" and a consensus target price of $167.75.

Virtus Investment Partners Stock Up 2.1%

The firm has a 50-day moving average price of $170.50 and a two-hundred day moving average price of $182.42. The company has a market capitalization of $1.33 billion, a P/E ratio of 11.36 and a beta of 1.45. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The closed-end fund reported $5.73 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $217.93 million during the quarter, compared to the consensus estimate of $201.99 million. During the same period in the prior year, the firm earned $5.41 EPS. Equities research analysts anticipate that Virtus Investment Partners, Inc. will post 27.7 EPS for the current fiscal year.

Virtus Investment Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be issued a $2.25 dividend. The ex-dividend date is Thursday, July 31st. This represents a $9.00 annualized dividend and a yield of 4.67%. Virtus Investment Partners's dividend payout ratio (DPR) is 53.41%.

Institutional Trading of Virtus Investment Partners

Institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Virtus Investment Partners by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,849 shares of the closed-end fund's stock valued at $849,000 after buying an additional 152 shares during the period. GAMMA Investing LLC boosted its position in shares of Virtus Investment Partners by 8,517.5% during the 1st quarter. GAMMA Investing LLC now owns 6,894 shares of the closed-end fund's stock valued at $1,188,000 after acquiring an additional 6,814 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Virtus Investment Partners by 8.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 276,880 shares of the closed-end fund's stock valued at $61,074,000 after acquiring an additional 21,344 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Virtus Investment Partners in the fourth quarter worth about $353,000. Finally, D. E. Shaw & Co. Inc. lifted its stake in Virtus Investment Partners by 43.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 7,802 shares of the closed-end fund's stock worth $1,721,000 after purchasing an additional 2,357 shares during the period. 80.52% of the stock is currently owned by 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.