Should You Invest in Virtus Investment Partners (VRTS)?
Gator Capital Management, an asset management company, recently released its first-quarter investor letter. A copy of the same can be downloaded here. The fund trailed the broader benchmarks in the first quarter while outperformed the financials sector benchmark. Gator Financial Partners returned 1.72% in the quarter compared to 7.50% for the S&P 500 Total Return Index and -5.92% for the S&P 1500 Financials Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Gator Capital Management highlighted stocks like Virtus Investment Partners, Inc. (NASDAQ:VRTS) in the first quarter 2023 investor letter. Based in Hartford, Connecticut, Virtus Investment Partners, Inc. (NASDAQ:VRTS) is an investment management company. On June 9, 2023, Virtus Investment Partners, Inc. (NASDAQ:VRTS) stock closed at $210.23 per share. One-month return of Virtus Investment Partners, Inc. (NASDAQ:VRTS) was 22.60%, and its shares gained 15.51% of their value over the last 52 weeks. Virtus Investment Partners, Inc. (NASDAQ:VRTS) has a market capitalization of $1.532 billion.
Gator Capital Management made the following comment about Virtus Investment Partners, Inc. (NASDAQ:VRTS) in its first quarter 2023 investor letter:
“We like Virtus Investment Partners, Inc. (NASDAQ:VRTS) and OneMain Financial. Virtus is an investment manager trading at 6x earnings with zero net debt. The company has been using their cash flow to make acquisitions of smaller investment managers and to repurchase their own stock. Virtus was down 16% in March despite their assets under management increasing in both March and in Q1. OneMain Financial is a sub-prime lender and is not a bank. The company funds its balance sheet in the capital markets and is fully-funded with mostly fixed-rate liabilities. The stock was down 15% in March and trades at 6x earnings.”
Virtus Investment Partners, Inc. (NASDAQ:VRTS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held Virtus Investment Partners, Inc. (NASDAQ:VRTS) at the end of first quarter 2023 which was 13 in the previous quarter.
We discussed Virtus Investment Partners, Inc. (NASDAQ:VRTS) in another article and shared the list of best stocks to buy for retirement. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
