Vertex (NASDAQ:VERX) Director Eric Andersen Buys 40,000 Shares of Stock

Vertex, Inc. (NASDAQ:VERX) Director Eric Andersen bought 40,000 shares of the business’s stock in a transaction dated 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 directly owned 150,341 shares in the company, valued at approximately $1,940,902.31. The trade was a 36.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Vertex Stock Down 5.6%

VERX stock opened at $12.03 on Tuesday. The stock has a market cap of $1.92 billion, a P/E ratio of 300.83, a P/E/G ratio of 1.52 and a beta of 0.59. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.27. The stock’s fifty day simple moving average is $17.88 and its two-hundred day simple moving average is $21.35. Vertex, Inc. has a 1-year low of $11.86 and a 1-year high of $44.59.

Vertex (NASDAQ:VERX) last announced its 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. Vertex had a return on equity of 25.25% and a net margin of 0.96%.The firm had revenue of $194.71 million during the quarter, compared to analyst estimates of $194.33 million. During the same period last year, the firm posted $0.15 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. Analysts expect that Vertex, Inc. will post 0.38 EPS for the current year.

Vertex declared that its board has authorized a share buyback plan on Monday, November 3rd that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

VERX has been the subject of several research reports. UBS Group set a $25.00 price objective on Vertex in a report on Thursday, February 12th. Jefferies Financial Group lowered Vertex from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a report on Wednesday, February 11th. The Goldman Sachs Group lowered their price objective on Vertex from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Citizens Jmp reduced their target price on shares of Vertex from $37.00 to $25.00 and set a “market outperform” rating for the company in a research note on Thursday, February 12th. Finally, Citigroup dropped their price target on shares of Vertex from $22.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, February 12th. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $23.07.

Hedge Funds Weigh In On Vertex

Hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. lifted 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 worth $68,000 after purchasing an additional 395 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Vertex by 0.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 137,913 shares of the company’s stock worth $3,456,000 after buying an additional 564 shares in the last quarter. Verdence Capital Advisors LLC boosted its position in shares of Vertex by 5.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 11,538 shares of the company’s stock valued at $296,000 after acquiring an additional 600 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Vertex by 6.5% during the second quarter. Teacher Retirement System of Texas now owns 10,310 shares of the company’s stock valued at $364,000 after purchasing an additional 630 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Vertex by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 8,354 shares of the company’s stock worth $207,000 after purchasing an additional 753 shares in the last quarter. Hedge funds and other institutional investors own 70.32% of the company’s stock.

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.