2Xideas AG Makes New $1.57 Million Investment in Vertex, Inc. $VERX

2Xideas AG purchased a new position in shares of Vertex, Inc. (NASDAQ:VERX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 63,266 shares of the company’s stock, valued at approximately $1,568,000.

Several other large investors have also recently bought and sold shares of VERX. Raymond James Financial Inc. acquired a new stake in Vertex during the second quarter worth about $54,000. Advisors Asset Management Inc. lifted its position in shares of Vertex by 25.7% in the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock worth $68,000 after acquiring an additional 395 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of Vertex during the 3rd quarter worth approximately $130,000. Osaic Holdings Inc. increased its position in shares of Vertex by 108.8% during the second quarter. Osaic Holdings Inc. now owns 5,781 shares of the company’s stock valued at $204,000 after purchasing an additional 3,012 shares during the period. Finally, State of Wyoming raised its stake in shares of Vertex by 37.9% in the third quarter. State of Wyoming now owns 6,466 shares of the company’s stock valued at $160,000 after purchasing an additional 1,777 shares in the last quarter. 70.32% of the stock is currently owned by institutional investors and hedge funds.

Vertex Stock Performance

NASDAQ VERX opened at $13.30 on Friday. Vertex, Inc. has a 52-week low of $11.86 and a 52-week high of $42.44. The stock has a market cap of $2.13 billion, a PE ratio of 332.58, a P/E/G ratio of 1.64 and a beta of 0.63. The firm has a 50-day moving average of $16.29 and a 200-day moving average of $20.32. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.98 and a current ratio of 0.98.

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

Insider Buying and Selling at Vertex

In related news, Director Eric C. Andersen purchased 40,000 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were bought at an average price of $12.91 per share, for a total transaction of $516,400.00. Following the completion of the transaction, the director owned 150,341 shares of the company’s stock, valued at approximately $1,940,902.31. This trade represents a 36.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jeffrey Westphal bought 150,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was purchased at an average price of $12.53 per share, with a total value of $1,879,500.00. Following the completion of the transaction, the insider directly owned 397,740 shares in the company, valued at approximately $4,983,682.20. This represents a 60.55% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 437,740 shares of company stock worth $5,636,339. 43.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

VERX has been the topic of a number of recent research reports. Piper Sandler decreased their price target on shares of Vertex from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, February 12th. Stifel Nicolaus set a $16.00 price objective on shares of Vertex in a research note on Wednesday, February 11th. Citigroup reduced their price objective on shares of Vertex from $22.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. Jefferies Financial Group lowered shares of Vertex from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a research report on Wednesday, February 11th. Finally, Morgan Stanley set a $20.00 price target on shares of Vertex in a research report on Thursday, February 12th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $23.07.

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.