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

Virtus Investment Partners, Inc. (NASDAQ:VRTS)’s share price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 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.

Trending Headlines about 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 Analyst Weigh In

VRTS has been the subject of several research reports. Morgan Stanley decreased their price target on shares of Virtus Investment Partners from $130.00 to $120.00 and set an “underweight” rating for the company in a report on Friday, September 25th. Zacks Research lowered shares of Virtus Investment Partners from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 14th. Piper Sandler raised their target price on shares of Virtus Investment Partners from $146.00 to $162.00 and gave the stock an “overweight” rating in a report on Tuesday. Barclays decreased their target price on Virtus Investment Partners from $135.00 to $117.00 and set an “underweight” rating for the company in a research note on Wednesday, October 14th. Finally, 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, October 12th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $133.75.

Virtus Investment Partners Stock Performance

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’s fifty day moving average is $132.12 and its two-hundred day moving average is $143.88. The firm has a market cap of $872.81 million, a price-to-earnings 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. 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 7.4%. 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. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Virtus Investment Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ieq Capital LLC raised its stake in Virtus Investment Partners by 2.4% during the 3rd quarter. Ieq Capital LLC now owns 23,225 shares of the closed-end fund’s stock valued at $3,073,000 after acquiring an additional 545 shares in the last quarter. Focus Advisor Solutions LLC bought a new position in shares of Virtus Investment Partners in the third quarter worth $222,000. Russell Investments Group Ltd. grew its stake in shares of Virtus Investment Partners by 17.6% in the third quarter. Russell Investments Group Ltd. now owns 11,721 shares of the closed-end fund’s stock worth $1,551,000 after purchasing an additional 1,754 shares in the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of Virtus Investment Partners by 3.0% in the third quarter. Illinois Municipal Retirement Fund now owns 3,585 shares of the closed-end fund’s stock worth $474,000 after purchasing an additional 106 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Virtus Investment Partners during the third quarter valued at $777,000. 80.52% of the stock is currently 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.