Virtus Investment Partners (NASDAQ:VRTS) Sees Large Volume Increase - What's Next?

Key Points

• Virtus Investment Partners saw unusually high trading volume, with 53,229 shares changing hands, though that was still down 51% from the prior session. The stock last traded at $164.17, slightly above its previous close.
• Brokerages remain cautious overall despite recent target-price increases, with Morgan Stanley, Barclays, and TD Cowen all raising targets but keeping underweight or hold views. MarketBeat data shows an average rating of “Reduce” and a consensus target price of $144.25.
• The company also announced a quarterly dividend of $2.40 per share, payable August 14 to shareholders of record on July 31. That works out to an annualized dividend of $9.60 and a yield of 5.8%.

Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Get Free Report) saw unusually-high trading volume on Friday . 53,229 shares were traded during mid-day trading, a decline of 51% from the previous session's volume of 108,744 shares.The stock last traded at $164.1650 and had previously closed at $163.02.

Analyst Ratings Changes

Several brokerages have recently commented on VRTS. Morgan Stanley raised their target price on shares of Virtus Investment Partners from $112.00 to $119.00 and gave the stock an "underweight" rating in a report on Friday, June 26th. Barclays boosted their price target on Virtus Investment Partners from $125.00 to $141.00 and gave the company an "underweight" rating in a research note on Tuesday, July 14th. TD Cowen increased their price target on Virtus Investment Partners from $136.00 to $147.00 and gave the stock a "hold" rating in a research report on Monday. Finally, Piper Sandler decreased their price target on Virtus Investment Partners from $181.00 to $170.00 and set an "overweight" rating on the stock in a research report on Monday, May 4th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $144.25.

Virtus Investment Partners Stock Performance

The stock has a 50-day simple moving average of $148.16 and a 200-day simple moving average of $146.02. The stock has a market cap of $1.11 billion, a P/E ratio of 9.80 and a beta of 1.38. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86.

Virtus Investment Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $2.40 dividend. This represents a $9.60 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Friday, July 31st. Virtus Investment Partners's dividend payout ratio is presently 56.50%.

Institutional Trading of Virtus Investment Partners

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in Virtus Investment Partners by 86.2% during the 2nd quarter. GAMMA Investing LLC now owns 270 shares of the closed-end fund's stock worth $39,000 after buying an additional 125 shares during the period. Empowered Funds LLC bought a new position in shares of Virtus Investment Partners during the first quarter valued at $2,058,000. Renaissance Technologies LLC raised its stake in shares of Virtus Investment Partners by 73.1% during the first quarter. Renaissance Technologies LLC now owns 27,229 shares of the closed-end fund's stock valued at $3,658,000 after acquiring an additional 11,500 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Virtus Investment Partners by 135.4% during the first quarter. Sei Investments Co. now owns 30,963 shares of the closed-end fund's stock worth $4,160,000 after purchasing an additional 17,811 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Virtus Investment Partners by 38.1% during the first quarter. First Trust Advisors LP now owns 52,930 shares of the closed-end fund's stock worth $7,111,000 after purchasing an additional 14,600 shares during the period. 80.52% of the stock is owned by institutional investors and hedge funds.

About Virtus Investment Partners

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.

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