TD Cowen Cuts Virtus Investment Partners (NASDAQ:VRTS) Price Target to $180.00

by · The Cerbat Gem

Virtus Investment Partners (NASDAQ:VRTS – Free Report) had its price objective trimmed by TD Cowen from $196.00 to $180.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a hold rating on the closed-end fund’s stock.

VRTS has been the subject of a number of other research reports. Piper Sandler upped their target price on Virtus Investment Partners from $211.00 to $234.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. Morgan Stanley cut their target price on Virtus Investment Partners from $180.00 to $170.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 21st. Finally, Barclays cut their price target on Virtus Investment Partners from $190.00 to $175.00 and set an “underweight” rating on the stock in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $190.50.

Read Our Latest Stock Analysis on Virtus Investment Partners

Virtus Investment Partners Price Performance

Shares of VRTS opened at $163.99 on Monday. Virtus Investment Partners has a 12-month low of $142.18 and a 12-month high of $252.82. The business has a 50-day simple moving average of $190.02 and a two-hundred day simple moving average of $183.38. 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 stock has a market cap of $1.11 billion, a PE ratio of 9.70 and a beta of 1.43.

Virtus Investment Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a $2.40 dividend. This is an increase from Virtus Investment Partners’s previous quarterly dividend of $2.25. This represents a $9.60 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Friday, October 31st. Virtus Investment Partners’s dividend payout ratio (DPR) is 49.28%.

Hedge Funds Weigh In On Virtus Investment Partners

Several hedge funds have recently made changes to their positions in VRTS. Nuveen LLC purchased a new position in shares of Virtus Investment Partners in the first quarter valued at $9,639,000. Gator Capital Management LLC lifted its stake in Virtus Investment Partners by 190.7% during the first quarter. Gator Capital Management LLC now owns 60,810 shares of the closed-end fund’s stock worth $10,481,000 after purchasing an additional 39,895 shares during the last quarter. Norges Bank purchased a new position in shares of Virtus Investment Partners in the second quarter worth about $7,177,000. American Century Companies Inc. increased its holdings in shares of Virtus Investment Partners by 38.5% in the first quarter. American Century Companies Inc. now owns 113,192 shares of the closed-end fund’s stock worth $19,510,000 after buying an additional 31,454 shares during the period. Finally, Jump Financial LLC increased its holdings in shares of Virtus Investment Partners by 547.9% in the second quarter. Jump Financial LLC now owns 30,322 shares of the closed-end fund’s stock worth $5,500,000 after buying an additional 25,642 shares during the period. 80.52% of the stock is currently owned by hedge funds and other institutional investors.

About Virtus Investment Partners

(Get Free Report)

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.

Featured Stories