Campbell & CO Investment Adviser LLC Sells 31,940 Shares of Vertex, Inc. $VERX

Campbell & CO Investment Adviser LLC decreased its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 65.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,799 shares of the company’s stock after selling 31,940 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Vertex were worth $416,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VERX. Fifth Third Bancorp raised its position in shares of Vertex by 31.0% in the second quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock valued at $52,000 after purchasing an additional 347 shares during the period. Advisors Asset Management Inc. grew its stake in Vertex by 25.7% in the 1st 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 during the last quarter. Blue Trust Inc. raised its holdings in Vertex by 44.4% in the 2nd quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock valued at $59,000 after acquiring an additional 512 shares during the period. Teacher Retirement System of Texas grew its holdings in Vertex by 6.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 10,310 shares of the company’s stock valued at $364,000 after buying an additional 630 shares in the last quarter. Finally, Verdence Capital Advisors LLC increased its position in Vertex by 8.2% during the second quarter. Verdence Capital Advisors LLC now owns 10,938 shares of the company’s stock worth $386,000 after acquiring an additional 826 shares during the period. 70.32% of the stock is owned by institutional investors.

Vertex Price Performance

Shares of NASDAQ:VERX opened at $19.60 on Friday. Vertex, Inc. has a one year low of $18.47 and a one year high of $60.71. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $3.13 billion, a price-to-earnings ratio of -56.00, a PEG ratio of 2.84 and a beta of 0.60. The firm has a 50 day simple moving average of $19.73 and a 200 day simple moving average of $24.38.

Vertex (NASDAQ:VERX) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. Vertex had a negative net margin of 7.32% and a positive return on equity of 26.84%. The company had revenue of $192.11 million during the quarter, compared to the consensus estimate of $191.62 million. During the same period in the prior year, the business earned $0.16 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. Research analysts predict that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Vertex declared that its Board of Directors has initiated a share repurchase plan on Monday, November 3rd that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to buy up to 4.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

VERX has been the subject of a number of recent analyst reports. Robert W. Baird set a $25.00 target price on Vertex in a research report on Tuesday, November 4th. Citizens Jmp reduced their price target on shares of Vertex from $50.00 to $37.00 and set a “market outperform” rating on the stock in a research report on Tuesday, November 4th. Piper Sandler decreased their price objective on shares of Vertex from $42.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 4th. The Goldman Sachs Group set a $25.00 target price on Vertex in a research note on Wednesday, January 14th. Finally, Jefferies Financial Group set a $28.00 target price on Vertex in a report on Monday, November 3rd. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.40.

About Vertex

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.