Quantbot Technologies LP Makes New $1.88 Million Investment in Vertex, Inc. $VERX

Quantbot Technologies LP bought a new position in shares of Vertex, Inc. (NASDAQ:VERX) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 75,914 shares of the company’s stock, valued at approximately $1,882,000.

Several other institutional investors and hedge funds have also recently modified their holdings of VERX. Raymond James Financial Inc. purchased a new position in Vertex during the second quarter worth approximately $54,000. Advisors Asset Management Inc. increased its position in shares of Vertex by 25.7% in the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after buying an additional 395 shares in the last quarter. Osaic Holdings Inc. raised its stake in shares of Vertex by 108.8% during the 2nd quarter. Osaic Holdings Inc. now owns 5,781 shares of the company’s stock worth $204,000 after buying an additional 3,012 shares during the period. State of Wyoming lifted its position in shares of Vertex by 37.9% during the 3rd quarter. State of Wyoming now owns 6,466 shares of the company’s stock valued at $160,000 after buying an additional 1,777 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in Vertex by 17.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,643 shares of the company’s stock valued at $235,000 after acquiring an additional 965 shares during the period. Hedge funds and other institutional investors own 70.32% of the company’s stock.

Vertex Stock Up 3.5%

Shares of NASDAQ VERX opened at $15.15 on Thursday. The stock has a market cap of $2.42 billion, a PE ratio of 378.84, a P/E/G ratio of 1.74 and a beta of 0.63. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.30. Vertex, Inc. has a 12-month low of $11.86 and a 12-month high of $42.44. The company has a 50-day moving average of $17.05 and a 200 day moving average of $20.82.

Vertex (NASDAQ:VERX) last issued its earnings results on Wednesday, February 11th. The company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The business had revenue of $194.71 million for the quarter, compared to analysts’ expectations of $194.33 million. Vertex had a return on equity of 24.70% and a net margin of 0.96%.The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 EPS. As a group, sell-side analysts predict that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Analyst Ratings Changes

VERX has been the subject of several recent analyst reports. Piper Sandler cut their price target on shares of Vertex from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. BMO Capital Markets cut their target price on shares of Vertex from $22.00 to $16.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. Citizens Jmp decreased their price target on shares of Vertex from $37.00 to $25.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 12th. Citigroup lowered their price objective on Vertex from $22.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. Finally, Stifel Nicolaus set a $16.00 target price on Vertex in a report on Wednesday, February 11th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $23.07.

Insider Buying and Selling at Vertex

In related news, insider Jeffrey Westphal purchased 150,000 shares of Vertex stock in a transaction dated Tuesday, February 17th. The shares were acquired at an average price of $12.53 per share, for a total transaction of $1,879,500.00. Following the acquisition, the insider directly owned 397,740 shares in the company, valued at approximately $4,983,682.20. The trade was a 60.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric C. Andersen acquired 40,000 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was purchased at an average cost of $12.91 per share, with a total value of $516,400.00. Following the acquisition, the director directly owned 150,341 shares of the company’s stock, valued at $1,940,902.31. This trade represents a 36.25% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 437,740 shares of company stock valued at $5,636,339. 43.25% of the stock is owned by company insiders.

Vertex Company Profile

Vertex Energy, Inc (NASDAQ: VERX) is a specialty refiner and marketer of transportation fuels and petrochemical feedstocks in the United States. The company collects and processes a variety of waste petroleum products, including used motor oil and industrial lubricants, which it converts into ultra-low-sulfur diesel, asphalt, and other refined products. By leveraging proprietary re-refining technologies and strategic feedstock sourcing, Vertex Energy aims to deliver cost-effective, lower-carbon fuel solutions to wholesale and retail customers across the country.

Headquartered in Houston, Texas, Vertex operates a network of refining and blending facilities in key regions, including the Central, Northeast and Mid-Atlantic markets.