Virtus Investment Partners (NASDAQ:VRTS) Sees Large Volume Increase – Here’s What Happened

Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) saw unusually-strong trading volume on Tuesday. 96,473 shares changed hands during trading, a decline of 17% from the previous session’s volume of 116,442 shares. The stock last traded at $128.1310 and had previously closed at $130.51.

Analyst Ratings Changes

Several research firms recently weighed in on VRTS. Morgan Stanley dropped their price objective on shares of Virtus Investment Partners from $130.00 to $120.00 and set an “underweight” rating on the stock in a research note on Friday, September 25th. TD Cowen decreased their target price on Virtus Investment Partners from $155.00 to $136.00 and set a “hold” rating for the company in a research note on Monday. Finally, Barclays lowered their target price on Virtus Investment Partners from $135.00 to $117.00 and set an “underweight” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $135.75.

Virtus Investment Partners Stock Down 4.4%

The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27. The firm’s 50-day moving average price is $148.59 and its 200 day moving average price is $147.26. The firm has a market cap of $810.00 million, a P/E ratio of 7.24 and a beta of 1.41.

Virtus Investment Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be given a $2.45 dividend. This is a positive change from Virtus Investment Partners’s previous quarterly dividend of $2.40. The ex-dividend date is Friday, October 30th. This represents a $9.80 annualized dividend and a yield of 8.0%. Virtus Investment Partners’s payout ratio is currently 55.84%.

Insider Activity at Virtus Investment Partners

In other Virtus Investment Partners news, Director W. Morris sold 435 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $138.59, for a total value of $60,286.65. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Angerthal sold 14,975 shares of Virtus Investment Partners stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $167.34, for a total value of $2,505,916.50. Following the sale, the executive vice president directly owned 63,461 shares in the company, valued at approximately $10,619,563.74. This trade represents a 19.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.40% of the stock is currently owned by company insiders.

Institutional Trading of Virtus Investment Partners

Several large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in Virtus Investment Partners by 51.5% in the third quarter. GAMMA Investing LLC now owns 409 shares of the closed-end fund’s stock worth $54,000 after purchasing an additional 139 shares during the period. Integrated Wealth Concepts LLC bought a new position in Virtus Investment Partners during the 2nd quarter valued at $129,000. IFP Advisors Inc increased its position in shares of Virtus Investment Partners by 158.6% during 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 period. Allworth Financial LP increased its position in shares of Virtus Investment Partners by 274.6% during the 2nd quarter. Allworth Financial LP now owns 648 shares of the closed-end fund’s stock valued at $93,000 after purchasing an additional 475 shares during the period. Finally, Corient Private Wealth LP acquired a new position in shares of Virtus Investment Partners during the 2nd quarter valued at $217,000. 80.52% of the stock is currently owned by institutional investors and hedge funds.

Virtus Investment Partners Company Profile

Virtus Investment Partners, Inc is a U.S.-based asset management company that operates as a multi-manager investment platform. Through a collection of affiliated investment managers, the company provides investment strategies designed to address a range of investor objectives and risk profiles.

Virtus offers mutual funds, exchange-traded funds, separately managed accounts, institutional mandates and alternative investment solutions. Its affiliated managers provide expertise across domestic and international equities, fixed income, multi-asset strategies, alternatives and other specialized investment approaches.

The company traces its roots to 1995 and was previously associated with Phoenix Investment Partners before adopting the Virtus Investment Partners name.