Vertex, Inc. $VERX Shares Bought by Gagnon Securities LLC

Gagnon Securities LLC lifted its position in shares of Vertex, Inc. (NASDAQ:VERX) by 40.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 378,685 shares of the company’s stock after purchasing an additional 108,839 shares during the period. Vertex comprises about 1.9% of Gagnon Securities LLC’s holdings, making the stock its 21st largest position. Gagnon Securities LLC owned 0.24% of Vertex worth $9,388,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in VERX. DLD Asset Management LP purchased a new position in Vertex during the 2nd quarter worth approximately $300,348,000. Massachusetts Financial Services Co. MA raised its stake in shares of Vertex by 231.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,567,902 shares of the company’s stock worth $88,448,000 after purchasing an additional 2,490,097 shares during the last quarter. Conestoga Capital Advisors LLC raised its position in Vertex by 15.3% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 3,398,435 shares of the company’s stock worth $120,084,000 after buying an additional 450,695 shares during the last quarter. Geneva Capital Management LLC raised its holdings in Vertex by 47.7% during the second quarter. Geneva Capital Management LLC now owns 3,017,735 shares of the company’s stock worth $106,632,000 after purchasing an additional 974,530 shares in the last quarter. Finally, Wasatch Advisors LP purchased a new stake in Vertex in the 2nd quarter valued at approximately $88,293,000. 70.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. The Goldman Sachs Group set a $25.00 price objective on Vertex in a research report on Wednesday, January 14th. Jefferies Financial Group set a $28.00 target price on Vertex in a report on Monday, November 3rd. UBS Group restated a “market outperform” rating on shares of Vertex in a research report on Tuesday, November 4th. Needham & Company LLC lowered their target price on Vertex from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, November 4th. Finally, Robert W. Baird set a $25.00 price objective on Vertex in a research report on Tuesday, November 4th. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.40.

Vertex Stock Performance

Shares of VERX stock opened at $18.70 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of -53.43, a price-to-earnings-growth ratio of 3.01 and a beta of 0.60. Vertex, Inc. has a one year low of $18.13 and a one year high of $60.71. The company has a 50 day moving average price of $19.70 and a 200 day moving average price of $23.81.

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

Vertex declared that its board has approved a stock buyback plan on Monday, November 3rd that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.