Insider Buying: Vertex (NASDAQ:VERX) Insider Buys $1,879,500.00 in Stock

Vertex, Inc. (NASDAQ:VERX) insider Jeffrey Westphal purchased 150,000 shares of the 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 completion of the acquisition, the insider directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Jeffrey Westphal also recently made the following trade(s):

• On Friday, February 13th, Jeffrey Westphal acquired 247,740 shares of Vertex stock. The stock was acquired at an average price of $13.08 per share, with a total value of $3,240,439.20.

Vertex Price Performance

NASDAQ VERX opened at $12.74 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 stock has a market cap of $2.03 billion, a price-to-earnings ratio of 318.58, a PEG ratio of 1.52 and a beta of 0.59. The business has a 50 day simple moving average of $18.03 and a 200 day simple moving average of $21.58. Vertex, Inc. has a 52-week low of $11.96 and a 52-week high of $45.82.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The company had revenue of $194.71 million during the quarter, compared to analysts’ expectations of $194.33 million. Vertex had a net margin of 0.96% and a return on equity of 25.25%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.15 earnings per share. Analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Vertex declared that its board has authorized a stock repurchase program on Monday, November 3rd that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to repurchase up to 4.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Vertex in a research report on Wednesday, January 21st. Citigroup reduced their target price on shares of Vertex from $22.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. Piper Sandler decreased their target price on shares of Vertex from $20.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, February 12th. DA Davidson set a $13.00 price target on shares of Vertex in a research report on Thursday, February 12th. Finally, UBS Group set a $25.00 target price on Vertex in a research report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Vertex presently has a consensus rating of “Hold” and an average price target of $23.07.

Hedge Funds Weigh In On Vertex

A number of hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC bought a new position in Vertex in the 4th quarter worth approximately $32,000. Empowered Funds LLC bought a new position in shares of Vertex during the 4th quarter valued at approximately $45,000. Raymond James Financial Inc. purchased a new stake in Vertex during the 2nd quarter valued at $54,000. Advisors Asset Management Inc. lifted its position in Vertex by 36.9% in the fourth quarter. Advisors Asset Management Inc. now owns 3,320 shares of the company’s stock worth $66,000 after buying an additional 895 shares during the last quarter. Finally, Assetmark Inc. lifted its position in Vertex by 49.1% in the fourth quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock worth $83,000 after buying an additional 1,376 shares during the last quarter. Institutional investors 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.