American International Group Inc. boosted its stake in Vertex Energy, Inc. (NASDAQ:VTNR – Free Report) by 24.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,505 shares of the industrial products company’s stock after purchasing an additional 6,403 shares during the period. American International Group Inc.’s holdings in Vertex Energy were worth $203,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Barclays PLC grew its position in Vertex Energy by 105.3% in the 2nd quarter. Barclays PLC now owns 25,135 shares of the industrial products company’s stock worth $157,000 after purchasing an additional 497,752 shares during the period. Avidian Wealth Solutions LLC grew its position in Vertex Energy by 39.8% in the 2nd quarter. Avidian Wealth Solutions LLC now owns 349,747 shares of the industrial products company’s stock worth $2,186,000 after purchasing an additional 99,555 shares during the period. Van ECK Associates Corp grew its position in Vertex Energy by 45.5% in the 2nd quarter. Van ECK Associates Corp now owns 252,450 shares of the industrial products company’s stock worth $1,578,000 after purchasing an additional 78,957 shares during the period. Myriad Asset Management US LP bought a new stake in Vertex Energy in the 2nd quarter worth approximately $4,361,000. Finally, Raymond James & Associates bought a new stake in Vertex Energy in the 2nd quarter worth approximately $125,000. Institutional investors own 55.38% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on VTNR. StockNews.com began coverage on shares of Vertex Energy in a research report on Thursday, October 5th. They set a “sell” rating for the company. Oppenheimer reissued a “market perform” rating and set a $10.00 price objective on shares of Vertex Energy in a research report on Wednesday, July 26th. Northland Securities cut their price objective on shares of Vertex Energy from $15.00 to $9.50 and set an “outperform” rating for the company in a research report on Thursday, August 10th. Finally, HC Wainwright reissued a “buy” rating and set a $8.00 price objective on shares of Vertex Energy in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Vertex Energy currently has a consensus rating of “Hold” and an average price target of $9.57.
Insider Activity at Vertex Energy
In related news, Director Christopher Allen Stratton sold 100,000 shares of Vertex Energy stock in a transaction on Friday, November 10th. The shares were sold at an average price of $3.93, for a total transaction of $393,000.00. Following the transaction, the director now owns 88,405 shares in the company, valued at approximately $347,431.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 11.80% of the stock is owned by corporate insiders.
Vertex Energy Trading Up 1.1 %
VTNR opened at $3.84 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.49 and a current ratio of 1.11. Vertex Energy, Inc. has a fifty-two week low of $3.60 and a fifty-two week high of $11.20. The firm’s fifty day moving average is $4.45 and its 200 day moving average is $5.26.
Vertex Energy Company Profile
Vertex Energy, Inc, an energy transition company that focuses on the production and distribution of conventional and alternative fuels. It engages in refining and distributing petroleum products comprising the mobile refinery and related operations. The company also sells ferrous and non-ferrous recyclable metal products, and markets Group III base oils and other petroleum-based products, as well as provides transportation and marine salvage services.
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