Vertex (NASDAQ:VERX) Trading 8.9% Higher on Insider Buying Activity

Vertex, Inc. (NASDAQ:VERX) shares shot up 8.9% during trading on Tuesday after an insider bought additional shares in the company. The stock traded as high as $13.00 and last traded at $13.1030. 283,932 shares were traded during trading, a decline of 89% from the average session volume of 2,475,246 shares. The stock had previously closed at $12.03.

Specifically, Director Eric C. Andersen bought 40,000 shares of the company’s stock in a transaction on Friday, February 20th. The stock was bought at an average cost of $12.91 per share, with a total value of $516,400.00. Following the transaction, the director directly owned 150,341 shares in the company, valued at $1,940,902.31. The trade was a 36.25% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey Westphal purchased 150,000 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was acquired at an average price of $12.53 per share, with a total value of $1,879,500.00. Following the purchase, the insider owned 397,740 shares of the company’s stock, valued at approximately $4,983,682.20. This represents a 60.55% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In related news, insider Jeffrey Westphal bought 247,740 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was purchased at an average cost of $13.08 per share, with a total value of $3,240,439.20. Following the purchase, the insider directly owned 247,740 shares of the company’s stock, valued at $3,240,439.20. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Analyst Ratings Changes

VERX has been the topic of several analyst reports. Morgan Stanley set a $20.00 target price on shares of Vertex in a report on Thursday, February 12th. Citizens Jmp lowered 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. Needham & Company LLC decreased their target price on Vertex from $30.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. Stifel Nicolaus set a $16.00 price target on shares of Vertex in a research note on Wednesday, February 11th. Finally, UBS Group set a $25.00 price objective on shares of Vertex in a report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Vertex currently has a consensus rating of “Hold” and an average target price of $23.07.

Vertex Stock Up 10.2%

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 firm has a 50 day simple moving average of $17.73 and a two-hundred day simple moving average of $21.26. The company has a market capitalization of $2.12 billion, a PE ratio of 331.58, a P/E/G ratio of 1.43 and a beta of 0.59.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. The firm had revenue of $194.71 million for the quarter, compared to analyst estimates of $194.33 million. Vertex had a net margin of 0.96% and a return on equity of 25.25%. Vertex’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $0.15 EPS. Research analysts expect that Vertex, Inc. will post 0.38 EPS for the current year.

Vertex declared that its board has initiated a stock buyback program on Monday, November 3rd that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC purchased a new stake in shares of Vertex during the 4th quarter worth $32,000. Empowered Funds LLC purchased a new position in Vertex in the 4th quarter valued at approximately $45,000. Raymond James Financial Inc. acquired a new position in Vertex during the second quarter worth $54,000. Advisors Asset Management Inc. boosted its position in shares of Vertex by 36.9% in the 4th quarter. Advisors Asset Management Inc. now owns 3,320 shares of the company’s stock worth $66,000 after buying an additional 895 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in Vertex by 49.1% during the 4th quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock valued at $83,000 after acquiring an additional 1,376 shares in the last quarter. Institutional investors and hedge funds own 70.32% of the company’s stock.

Vertex Company Profile

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.