Bamco Inc. NY Makes New Investment in Vertex, Inc. $VERX

Bamco Inc. NY acquired a new stake in shares of Vertex, Inc. (NASDAQ:VERX) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 248,042 shares of the company’s stock, valued at approximately $6,149,000. Bamco Inc. NY owned 0.16% of Vertex at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of VERX. SummitTX Capital L.P. increased its stake in Vertex by 97.7% in the 3rd quarter. SummitTX Capital L.P. now owns 18,847 shares of the company’s stock worth $467,000 after buying an additional 9,314 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Vertex by 8.8% in the third quarter. California State Teachers Retirement System now owns 68,533 shares of the company’s stock valued at $1,699,000 after acquiring an additional 5,524 shares in the last quarter. 2Xideas AG bought a new position in shares of Vertex in the third quarter worth about $1,568,000. Wellington Management Group LLP boosted its stake in shares of Vertex by 76.7% in the third quarter. Wellington Management Group LLP now owns 2,161,501 shares of the company’s stock worth $53,584,000 after acquiring an additional 937,905 shares during the period. Finally, Nicolet Advisory Services LLC grew its position in shares of Vertex by 25.1% during the third quarter. Nicolet Advisory Services LLC now owns 18,831 shares of the company’s stock worth $467,000 after purchasing an additional 3,781 shares in the last quarter. Hedge funds and other institutional investors own 70.32% of the company’s stock.

Vertex Stock Performance

Shares of NASDAQ:VERX opened at $13.25 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.30. Vertex, Inc. has a 12 month low of $11.86 and a 12 month high of $42.44. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 331.33, a PEG ratio of 1.58 and a beta of 0.64. The firm’s 50-day moving average is $16.16 and its 200 day moving average is $20.17.

Vertex (NASDAQ:VERX) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. Vertex had a net margin of 0.96% and a return on equity of 24.70%. The business had revenue of $194.71 million during the quarter, compared to the consensus estimate of $194.33 million. During the same quarter last year, the firm earned $0.15 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. Research analysts predict that Vertex, Inc. will post 0.38 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on VERX. BMO Capital Markets lowered their price target on Vertex from $22.00 to $16.00 and set a “market perform” rating on the stock in a report on Thursday, February 12th. The Goldman Sachs Group dropped their target price on shares of Vertex from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Morgan Stanley set a $20.00 price target on shares of Vertex in a research note on Thursday, February 12th. DA Davidson set a $13.00 price objective on Vertex in a research report on Thursday, February 12th. Finally, Citizens Jmp reduced their target price on Vertex from $37.00 to $25.00 and set a “market outperform” rating on the stock in a report on Thursday, February 12th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $23.07.

Insider Buying and Selling

In other Vertex news, insider Jeffrey Westphal acquired 150,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were bought at an average price of $12.53 per share, with a total value of $1,879,500.00. Following the transaction, the insider directly owned 397,740 shares of the company’s stock, valued at $4,983,682.20. The trade was a 60.55% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Eric C. Andersen bought 40,000 shares of Vertex stock in a transaction on Friday, February 20th. The stock was acquired at an average price of $12.91 per share, for a total transaction of $516,400.00. Following the purchase, 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 437,740 shares of company stock valued at $5,636,339 over the last three months. 43.25% of the stock is owned by corporate insiders.

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.