Banco Santander S.A. Lowers Stock Holdings in Vertex, Inc. $VERX

Banco Santander S.A. lessened its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 47.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 177,826 shares of the company’s stock after selling 160,174 shares during the quarter. Banco Santander S.A. owned approximately 0.11% of Vertex worth $4,408,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. DLD Asset Management LP purchased a new position in Vertex during the second quarter worth about $300,348,000. Vanguard Group Inc. increased its stake in shares of Vertex by 9.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,387,126 shares of the company’s stock valued at $207,917,000 after acquiring an additional 689,143 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Vertex by 231.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,567,902 shares of the company’s stock worth $88,448,000 after acquiring an additional 2,490,097 shares during the period. Geneva Capital Management LLC boosted its position in shares of Vertex by 47.7% in the second quarter. Geneva Capital Management LLC now owns 3,017,735 shares of the company’s stock worth $106,632,000 after acquiring an additional 974,530 shares during the last quarter. Finally, Wasatch Advisors LP acquired a new stake in shares of Vertex in the second quarter worth approximately $88,293,000. Hedge funds and other institutional investors own 70.32% of the company’s stock.

Insider Buying and Selling

In other news, Director Eric C. Andersen bought 40,000 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was acquired at an average cost of $12.91 per share, for a total transaction of $516,400.00. Following the completion of the purchase, the director owned 150,341 shares of the company’s stock, valued at $1,940,902.31. This trade represents a 36.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey Westphal purchased 247,740 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were purchased at an average cost of $13.08 per share, with a total value of $3,240,439.20. Following the completion of the acquisition, the insider owned 247,740 shares in the company, valued at approximately $3,240,439.20. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In 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.

Analyst Ratings Changes

Several equities analysts recently commented on VERX shares. Morgan Stanley set a $20.00 price target on shares of Vertex in a research report on Thursday, February 12th. Stifel Nicolaus set a $16.00 price objective on shares of Vertex in a research note on Wednesday, February 11th. DA Davidson set a $13.00 price objective on Vertex in a report on Thursday, February 12th. The Goldman Sachs Group cut their target price on Vertex from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Vertex in a research report on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $23.07.

Vertex Stock Down 2.4%

Shares of Vertex stock opened at $14.48 on Friday. Vertex, Inc. has a twelve month low of $11.86 and a twelve month high of $42.44. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 362.09, a price-to-earnings-growth ratio of 1.77 and a beta of 0.59. The company has a current ratio of 0.98, a quick ratio of 1.01 and a debt-to-equity ratio of 1.30. The company has a fifty day moving average price of $17.38 and a 200 day moving average price of $21.09.

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

Vertex announced that its Board of Directors has authorized a stock repurchase plan on Monday, November 3rd that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to purchase up to 4.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.