Gagnon Advisors LLC Boosts Stock Holdings in Vertex, Inc. $VERX

Gagnon Advisors LLC lifted its holdings in Vertex, Inc. (NASDAQ:VERX) by 43.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 232,479 shares of the company’s stock after purchasing an additional 70,666 shares during the period. Vertex comprises 3.6% of Gagnon Advisors LLC’s holdings, making the stock its 13th biggest position. Gagnon Advisors LLC owned 0.15% of Vertex worth $5,763,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Fifth Third Bancorp increased its holdings in Vertex by 31.0% during the second quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock valued at $52,000 after buying an additional 347 shares during the period. Raymond James Financial Inc. bought a new stake in Vertex during the 2nd quarter valued at $54,000. Blue Trust Inc. increased its holdings in shares of Vertex by 44.4% in the 2nd quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock valued at $59,000 after acquiring an additional 512 shares during the period. Advisors Asset Management Inc. raised 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 in the last quarter. Finally, Osaic Holdings Inc. lifted its stake in shares of Vertex by 108.8% during the 2nd quarter. Osaic Holdings Inc. now owns 5,781 shares of the company’s stock worth $204,000 after purchasing an additional 3,012 shares during the last quarter. 70.32% of the stock is currently owned by institutional investors.

Vertex Trading Down 5.4%

NASDAQ VERX opened at $18.70 on Friday. Vertex, Inc. has a 12-month low of $18.13 and a 12-month high of $60.71. The company has a fifty day simple moving average of $19.70 and a two-hundred day simple moving average of $23.81. 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 has a market cap of $2.98 billion, a P/E ratio of -53.43, a P/E/G ratio of 3.01 and a beta of 0.60.

Vertex (NASDAQ:VERX) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $192.11 million for the quarter, compared to analyst estimates of $191.62 million. Vertex had a negative net margin of 7.32% and a positive return on equity of 26.84%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 earnings per share. On average, analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current year.

Vertex declared that its Board of Directors has initiated a stock repurchase program on Monday, November 3rd that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Robert W. Baird set a $25.00 target price on Vertex in a research note on Tuesday, November 4th. Citizens Jmp cut their price objective on shares of Vertex from $50.00 to $37.00 and set a “market outperform” rating on the stock in a research report on Tuesday, November 4th. Piper Sandler reduced their price objective on shares of Vertex from $42.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, November 4th. Needham & Company LLC decreased their target price on shares of Vertex from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, November 4th. Finally, JMP Securities set a $37.00 target price on shares of Vertex in a research note on Tuesday, November 4th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.40.

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.