Virtus Investment Partners, Inc. (NASDAQ:VRTS) EVP Barry M. Mandinach Sells 77 Shares of Stock

Virtus Investment Partners, Inc. (NASDAQ:VRTS) EVP Barry M. Mandinach sold 77 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $234.00, for a total value of $18,018.00. Following the completion of the sale, the executive vice president now owns 20,304 shares of the company’s stock, valued at approximately $4,751,136. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Virtus Investment Partners Price Performance

VRTS opened at $237.24 on Wednesday. Virtus Investment Partners, Inc. has a 12-month low of $168.78 and a 12-month high of $263.39. The stock has a market capitalization of $1.69 billion, a PE ratio of 14.29 and a beta of 1.50. The firm’s fifty day moving average price is $233.36 and its 200 day moving average price is $227.86.

Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Friday, April 26th. The closed-end fund reported $5.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $5.41. The business had revenue of $200.24 million for the quarter, compared to analyst estimates of $203.54 million. Virtus Investment Partners had a net margin of 14.02% and a return on equity of 19.61%. On average, equities research analysts forecast that Virtus Investment Partners, Inc. will post 26.43 earnings per share for the current fiscal year.

Virtus Investment Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be given a $1.90 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $7.60 annualized dividend and a dividend yield of 3.20%. Virtus Investment Partners’s payout ratio is 45.78%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on VRTS shares. Piper Sandler lowered their price objective on shares of Virtus Investment Partners from $275.00 to $265.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. TD Cowen lifted their price target on shares of Virtus Investment Partners from $245.00 to $250.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Morgan Stanley upped their price objective on shares of Virtus Investment Partners from $211.00 to $224.00 and gave the company an “underweight” rating in a research report on Wednesday, April 17th. Finally, StockNews.com lowered Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th.

Institutional Investors Weigh In On Virtus Investment Partners

Institutional investors have recently made changes to their positions in the company. Signaturefd LLC increased its stake in Virtus Investment Partners by 44.9% during the third quarter. Signaturefd LLC now owns 171 shares of the closed-end fund’s stock valued at $35,000 after purchasing an additional 53 shares during the last quarter. Blue Trust Inc. grew its position in shares of Virtus Investment Partners by 550.0% during the 4th quarter. Blue Trust Inc. now owns 182 shares of the closed-end fund’s stock valued at $44,000 after buying an additional 154 shares during the last quarter. Bessemer Group Inc. acquired a new stake in Virtus Investment Partners during the first quarter worth about $57,000. EntryPoint Capital LLC lifted its holdings in Virtus Investment Partners by 625.6% in the first quarter. EntryPoint Capital LLC now owns 312 shares of the closed-end fund’s stock worth $77,000 after acquiring an additional 269 shares during the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in Virtus Investment Partners in the first quarter valued at approximately $220,000. 80.52% of the stock is currently owned by institutional investors.

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.