Virtus Investment Partners stock sinks 11% after weak first-quarter results
Updated
Updated · MarketWatch · May 1
Virtus Investment Partners stock sinks 11% after weak first-quarter results
6 articles · Updated · MarketWatch · May 1
Shares fell to $129.56 on Friday, leaving the asset manager down more than 20% this year.
First-quarter profit dropped to $7.13 million, or $1.05 a share, from $28.6 million, while revenue fell 8.4% to $199.5 million.
Adjusted earnings of $5.38 a share missed FactSet analysts' $5.67 estimate, and assets under management fell to $149.03 billion amid market weakness and net outflows.
With active management struggling and fees falling, can Virtus's push into private credit and tech adoption revive growth, or is the business model fundamentally broken?
How might Virtus adapt its strategy to win back investor flows in a market dominated by passive funds, AI disruption, and rising client expectations?