GYL Financial Synergies LLC purchased a new stake in shares of Virtus Investment Partners Inc (NASDAQ:VRTS) in the first quarter, HoldingsChannel reports. The firm purchased 10,040 shares of the closed-end fund’s stock, valued at approximately $979,000.
A number of other large investors have also recently bought and sold shares of VRTS. WCM Investment Management LLC raised its holdings in Virtus Investment Partners by 63.5% in the 4th quarter. WCM Investment Management LLC now owns 73,656 shares of the closed-end fund’s stock worth $5,850,000 after purchasing an additional 28,597 shares in the last quarter. Neuburgh Advisers LLC grew its position in shares of Virtus Investment Partners by 14.8% in the 4th quarter. Neuburgh Advisers LLC now owns 992 shares of the closed-end fund’s stock worth $79,000 after buying an additional 128 shares during the period. Morgan Stanley grew its position in shares of Virtus Investment Partners by 30.8% in the 3rd quarter. Morgan Stanley now owns 24,469 shares of the closed-end fund’s stock worth $2,783,000 after buying an additional 5,756 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of Virtus Investment Partners in the 4th quarter worth about $28,000. Finally, Penserra Capital Management LLC grew its position in shares of Virtus Investment Partners by 29.3% in the 4th quarter. Penserra Capital Management LLC now owns 1,272 shares of the closed-end fund’s stock worth $101,000 after buying an additional 288 shares during the period. Institutional investors own 93.80% of the company’s stock.
Shares of NASDAQ VRTS traded down $0.17 during trading on Friday, reaching $106.20. 196 shares of the company traded hands, compared to its average volume of 69,892. The company has a market cap of $734.92 million, a PE ratio of 8.66, a PEG ratio of 2.02 and a beta of 1.69. Virtus Investment Partners Inc has a 52-week low of $70.00 and a 52-week high of $138.02.
Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings results on Friday, April 26th. The closed-end fund reported $2.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.42. The firm had revenue of $130.70 million for the quarter, compared to the consensus estimate of $131.64 million. Virtus Investment Partners had a net margin of 13.35% and a return on equity of 20.19%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.59 EPS. As a group, equities research analysts forecast that Virtus Investment Partners Inc will post 13.13 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Tuesday, July 30th. Virtus Investment Partners’s payout ratio is presently 17.94%.
VRTS has been the topic of a number of recent research reports. TheStreet raised shares of Virtus Investment Partners from a “c” rating to a “b-” rating in a research report on Friday, April 26th. BidaskClub raised shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, April 9th. Barclays increased their price objective on shares of Virtus Investment Partners from $90.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 19th. ValuEngine raised shares of Virtus Investment Partners from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Finally, Morgan Stanley set a $112.00 price objective on shares of Virtus Investment Partners and gave the company a “hold” rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Virtus Investment Partners currently has an average rating of “Hold” and an average price target of $111.50.
ILLEGAL ACTIVITY NOTICE: “GYL Financial Synergies LLC Purchases Shares of 10,040 Virtus Investment Partners Inc (NASDAQ:VRTS)” was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://www.dispatchtribunal.com/2019/06/14/gyl-financial-synergies-llc-purchases-shares-of-10040-virtus-investment-partners-inc-nasdaqvrts.html.
About Virtus Investment Partners
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.
Featured Story: How are the companies in the S&P 500 selected?
Want to see what other hedge funds are holding VRTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Virtus Investment Partners Inc (NASDAQ:VRTS).
Receive News & Ratings for Virtus Investment Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtus Investment Partners and related companies with MarketBeat.com's FREE daily email newsletter.