Tidal Investments LLC lifted its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS – Free Report) by 9.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,048 shares of the closed-end fund’s stock after purchasing an additional 90 shares during the period. Tidal Investments LLC’s holdings in Virtus Investment Partners were worth $260,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in VRTS. BOKF NA purchased a new position in shares of Virtus Investment Partners during the first quarter worth approximately $282,000. Quadrature Capital Ltd increased its holdings in Virtus Investment Partners by 80.2% during the 1st quarter. Quadrature Capital Ltd now owns 23,506 shares of the closed-end fund’s stock worth $5,825,000 after purchasing an additional 10,461 shares during the period. Huber Capital Management LLC increased its holdings in Virtus Investment Partners by 8.9% during the 1st quarter. Huber Capital Management LLC now owns 13,608 shares of the closed-end fund’s stock worth $3,375,000 after purchasing an additional 1,110 shares during the period. EntryPoint Capital LLC raised its position in Virtus Investment Partners by 625.6% during the 1st quarter. EntryPoint Capital LLC now owns 312 shares of the closed-end fund’s stock valued at $77,000 after purchasing an additional 269 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Virtus Investment Partners by 5.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 6,072 shares of the closed-end fund’s stock worth $1,504,000 after buying an additional 292 shares during the period. Hedge funds and other institutional investors own 80.52% of the company’s stock.
Insider Activity
In related news, EVP Barry M. Mandinach sold 7,886 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $234.00, for a total transaction of $1,845,324.00. Following the completion of the sale, the executive vice president now owns 12,418 shares of the company’s stock, valued at $2,905,812. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.10% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. TD Cowen decreased their price objective on Virtus Investment Partners from $250.00 to $247.00 and set a “hold” rating for the company in a report on Monday, July 8th. Morgan Stanley cut their target price on shares of Virtus Investment Partners from $213.00 to $208.00 and set an “underweight” rating on the stock in a research report on Monday, July 29th. Finally, Piper Sandler lowered their price target on shares of Virtus Investment Partners from $267.00 to $264.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th.
View Our Latest Stock Analysis on VRTS
Virtus Investment Partners Price Performance
Shares of NASDAQ VRTS opened at $197.49 on Friday. The business has a fifty day moving average price of $223.19 and a 200 day moving average price of $230.35. Virtus Investment Partners, Inc. has a 1-year low of $168.78 and a 1-year high of $263.39. The stock has a market capitalization of $1.41 billion, a P/E ratio of 11.90 and a beta of 1.46.
Virtus Investment Partners Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Wednesday, July 31st. Virtus Investment Partners’s payout ratio is 45.78%.
Virtus Investment Partners Company Profile
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.
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