Aberdeen Group plc Cuts Stake in Vertex, Inc. $VERX

Aberdeen Group plc lessened its stake in Vertex, Inc. (NASDAQ:VERX) by 15.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,221,776 shares of the company’s stock after selling 224,058 shares during the quarter. Aberdeen Group plc owned approximately 0.77% of Vertex worth $24,399,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in Vertex during the second quarter valued at approximately $54,000. Advisors Asset Management Inc. raised its position in shares of Vertex by 25.7% during the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after buying an additional 395 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Vertex during the 3rd quarter valued at about $130,000. State of Wyoming lifted its holdings in shares of Vertex by 37.9% in the 3rd quarter. State of Wyoming now owns 6,466 shares of the company’s stock valued at $160,000 after acquiring an additional 1,777 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in shares of Vertex by 108.8% in the 2nd quarter. Osaic Holdings Inc. now owns 5,781 shares of the company’s stock valued at $204,000 after acquiring an additional 3,012 shares during the last quarter. Institutional investors own 70.32% of the company’s stock.

Vertex Stock Performance

Shares of Vertex stock opened at $12.03 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.30. The stock’s fifty day moving average price is $14.12 and its 200-day moving average price is $18.93. The firm has a market cap of $1.92 billion, a P/E ratio of 300.83, a P/E/G ratio of 1.43 and a beta of 0.80. Vertex, Inc. has a 12 month low of $11.25 and a 12 month high of $42.44.

Vertex (NASDAQ:VERX) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. Vertex had a net margin of 0.96% and a return on equity of 24.70%. The company had revenue of $194.71 million during the quarter, compared to analyst estimates of $194.33 million. During the same period in the prior year, the firm earned $0.15 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities research analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Insider Transactions at Vertex

In other news, insider Jeffrey Westphal acquired 150,000 shares of Vertex stock in a transaction that occurred on Tuesday, February 17th. The stock was purchased at an average price of $12.53 per share, for a total transaction of $1,879,500.00. Following the purchase, the insider directly owned 397,740 shares in the company, 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 can be accessed through this link. Also, Director Eric C. Andersen bought 40,000 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were purchased 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 of the company’s stock, valued at $1,940,902.31. The trade was a 36.25% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 437,740 shares of company stock worth $5,636,339 over the last 90 days. Company insiders own 43.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on VERX. Jefferies Financial Group lowered shares of Vertex from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a research note on Wednesday, February 11th. Piper Sandler reduced their target price 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 target price on shares of Vertex in a report on Wednesday, February 11th. The Goldman Sachs Group dropped their price target on shares of Vertex from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Finally, Morgan Stanley set a $20.00 target price on Vertex in a research report on Thursday, February 12th. Seven 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 company. According to MarketBeat, the stock currently 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.