Brown Advisory Inc. Decreases Stock Position in Vertex, Inc. $VERX

Brown Advisory Inc. lowered its stake in Vertex, Inc. (NASDAQ:VERX) by 9.8% during the 4th quarter, Holdings Channel reports. The firm owned 2,778,876 shares of the company’s stock after selling 302,029 shares during the quarter. Brown Advisory Inc.’s holdings in Vertex were worth $55,494,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Herald Investment Management Ltd lifted its stake in Vertex by 81.8% in the 3rd quarter. Herald Investment Management Ltd now owns 200,000 shares of the company’s stock worth $4,958,000 after purchasing an additional 90,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in Vertex by 9.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,387,126 shares of the company’s stock worth $207,917,000 after purchasing an additional 689,143 shares in the last quarter. Jennison Associates LLC lifted its stake in Vertex by 21.1% in the 4th quarter. Jennison Associates LLC now owns 991,820 shares of the company’s stock worth $19,807,000 after purchasing an additional 172,692 shares in the last quarter. Hyperion Capital Advisors LP purchased a new stake in Vertex in the 3rd quarter worth $13,387,000. Finally, Champlain Investment Partners LLC lifted its stake in Vertex by 19.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,049,490 shares of the company’s stock worth $50,807,000 after purchasing an additional 340,680 shares in the last quarter. Hedge funds and other institutional investors own 70.32% of the company’s stock.

Vertex Stock Performance

Vertex stock opened at $12.28 on Monday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.86 and a quick ratio of 0.86. Vertex, Inc. has a 1-year low of $10.59 and a 1-year high of $37.76. The firm has a market capitalization of $1.99 billion, a P/E ratio of -245.60 and a beta of 0.82. The company’s 50-day moving average is $12.74 and its 200 day moving average is $15.40.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%. The company had revenue of $196.65 million for the quarter, compared to analyst estimates of $194.82 million. During the same period in the prior year, the company posted $0.15 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts forecast that Vertex, Inc. will post 0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

VERX has been the topic of several research analyst reports. BMO Capital Markets boosted their price target on shares of Vertex from $14.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. DA Davidson set a $15.00 price target on shares of Vertex in a research note on Friday, May 8th. Jefferies Financial Group set a $14.00 price target on shares of Vertex in a research note on Saturday, May 9th. Morgan Stanley reiterated an “overweight” rating and issued a $19.00 price target on shares of Vertex in a research note on Friday, May 8th. Finally, Piper Sandler upped their target price on shares of Vertex from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Vertex presently has an average rating of “Hold” and a consensus price target of $20.93.

Vertex 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.