Virtus Investment Partners Inc. (VRTS) Sees Large Volume Increase
Virtus Investment Partners Inc. (NASDAQ:VRTS) saw strong trading volume on Monday . 184,452 shares traded hands during mid-day trading, an increase of 60% from the previous session’s volume of 115,095 shares.The stock last traded at $88.79 and had previously closed at $89.72.
Several brokerages have recently commented on VRTS. Credit Suisse Group AG upgraded Virtus Investment Partners from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $90.00 to $91.00 in a research report on Thursday, July 14th. Zacks Investment Research lowered Virtus Investment Partners from a “hold” rating to a “sell” rating in a research report on Thursday, June 30th. Finally, Jefferies Group increased their price objective on Virtus Investment Partners from $74.00 to $87.00 and gave the company a “hold” rating in a research report on Monday, August 8th.
The stock has a market cap of $685.05 million and a PE ratio of 28.91. The company’s 50-day moving average is $84.07 and its 200 day moving average is $80.64.
Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings results on Friday, July 29th. The closed-end fund reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by $0.08. The company had revenue of $80.10 million for the quarter, compared to analysts’ expectations of $78.86 million. Virtus Investment Partners’s revenue was down 19.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.21 earnings per share. Equities research analysts anticipate that Virtus Investment Partners Inc. will post $5.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were issued a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, July 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.03%.
Several large investors have made changes to their positions in VRTS. Rhumbline Advisers boosted its stake in shares of Virtus Investment Partners by 3.4% in the fourth quarter. Rhumbline Advisers now owns 13,142 shares of the closed-end fund’s stock worth $1,544,000 after buying an additional 433 shares during the last quarter. Matarin Capital Management LLC acquired a new stake in shares of Virtus Investment Partners during the fourth quarter worth approximately $1,934,000. Finally, New York State Common Retirement Fund boosted its stake in shares of Virtus Investment Partners by 9.1% in the fourth quarter. New York State Common Retirement Fund now owns 26,495 shares of the closed-end fund’s stock worth $3,112,000 after buying an additional 2,199 shares during the last quarter.
Virtus Investment Partners, Inc is a provider of investment management and related services to individuals and institutions. The Company provides its products in various forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds, exchange traded funds, variable insurance funds, undertakings for collective investments in transferable securities (UCITS) and separately managed accounts.
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