Virtus Investment Partners (NASDAQ:VRTS) Shares Break Below Fifty Day Moving Average – Here’s What Happened

Virtus Investment Partners, Inc. (NASDAQ:VRTS) shares crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $132.12 and traded as low as $131.50. Virtus Investment Partners shares last traded at $131.7850, with a volume of 124,417 shares changing hands.

Key Stories Impacting Virtus Investment Partners

Here are the key news stories impacting Virtus Investment Partners this week:

• Positive Sentiment: Virtus earned $5.86 per share in Q3, topping the $5.78 consensus estimate. A report also characterized cost reductions as supporting a margin beat. Virtus Q3 earnings surpass estimates
• Positive Sentiment: Piper Sandler raised its price target from $146 to $162 and reiterated an “overweight” rating, signaling greater analyst optimism. Piper Sandler recommendations
• Neutral Sentiment: Management outlined a Q4 employment expense ratio of 54%–56% and noted improving performance in quality equities. The expense outlook and investment-strategy update offer mixed signals. Virtus Q4 expense outlook and quality equity update
• Negative Sentiment: Despite beating estimates, Q3 EPS fell from $6.69 a year earlier to $5.86, pointing to weaker year-over-year earnings and potentially tempering the positive surprise. Virtus Q3 earnings results

Wall Street Analysts Forecast Growth

A number of analysts have commented on VRTS shares. Zacks Research downgraded shares of Virtus Investment Partners from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 14th. TD Cowen reduced their price target on shares of Virtus Investment Partners from $155.00 to $136.00 and set a “hold” rating for the company in a research note on Monday, October 12th. Piper Sandler increased their price objective on shares of Virtus Investment Partners from $146.00 to $162.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays decreased their price objective on shares of Virtus Investment Partners from $135.00 to $117.00 and set an “underweight” rating for the company in a report on Wednesday, October 14th. Finally, Morgan Stanley lowered 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. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $133.75.

Virtus Investment Partners Stock Down 6.0%

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 $132.12 and a 200 day moving average price of $143.88. The company has a market cap of $872.81 million, a P/E ratio of 7.80 and a beta of 1.44.

Virtus Investment Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a dividend of $2.45 per share. This is an increase from Virtus Investment Partners’s previous quarterly dividend of $2.40. This represents a $9.80 annualized dividend and a yield of 7.4%. The ex-dividend date of this dividend is Friday, October 30th. Virtus Investment Partners’s dividend payout ratio (DPR) is 55.84%.

Insider Transactions at Virtus Investment Partners

In related news, Director W. Morris sold 435 shares of Virtus Investment Partners stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $138.59, for a total transaction of $60,286.65. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Virtus Investment Partners

A number of institutional investors and hedge funds have recently bought and sold shares of VRTS. International Assets Investment Management LLC bought a new position in shares of Virtus Investment Partners during the 1st quarter valued at about $26,000. IFP Advisors Inc grew its stake in shares of Virtus Investment Partners by 158.6% in the 2nd quarter. IFP Advisors Inc now owns 181 shares of the closed-end fund’s stock worth $26,000 after purchasing an additional 111 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Virtus Investment Partners by 150.0% in the 3rd quarter. Signaturefd LLC now owns 260 shares of the closed-end fund’s stock worth $34,000 after purchasing an additional 156 shares in the last quarter. Caitlin John LLC bought a new stake in shares of Virtus Investment Partners in the 2nd quarter worth approximately $35,000. Finally, Assetmark Inc. bought a new stake in shares of Virtus Investment Partners in the 1st quarter worth approximately $36,000. 80.52% of the stock is owned by institutional investors and hedge funds.

About Virtus Investment Partners

Virtus Investment Partners is an asset management company that offers investment products and services to individual investors, financial advisers, and institutions. It uses a multi-manager approach, bringing together specialized investment managers with distinct strategies and areas of expertise. Its offerings include mutual funds, exchange-traded funds, closed-end funds, separately managed accounts, and alternative investment strategies. The company distributes these products primarily through financial intermediaries and also works with institutional clients.