Eric Andersen Buys 40,000 Shares of Vertex (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX) Director Eric Andersen purchased 40,000 shares of the company’s stock in a transaction on Friday, February 20th. The stock was acquired at an average cost of $12.91 per share, for a total transaction of $516,400.00. Following the completion of the transaction, the director owned 150,341 shares in the company, valued at approximately $1,940,902.31. This trade represents a 36.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Vertex Stock Up 10.2%

VERX opened at $13.26 on Wednesday. The business has a 50 day moving average of $17.73 and a 200-day moving average of $21.26. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 331.58, a P/E/G ratio of 1.43 and a beta of 0.59. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.27. Vertex, Inc. has a 1-year low of $11.86 and a 1-year high of $43.56.

Vertex (NASDAQ:VERX) last released its earnings results on Wednesday, February 11th. The company reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. The firm 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 period in the prior year, the company earned $0.15 EPS. As a group, sell-side analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current year.

Vertex announced that its board has authorized a stock buyback plan on Monday, November 3rd that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 4.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have commented on VERX shares. UBS Group set a $25.00 price target on Vertex in a report on Thursday, February 12th. BMO Capital Markets cut their target price on Vertex from $22.00 to $16.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of Vertex in a research note on Wednesday, January 21st. The Goldman Sachs Group lowered their price target on shares of Vertex from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, Jefferies Financial Group downgraded shares of Vertex from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a report on Wednesday, February 11th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued 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.

Institutional Investors Weigh In On Vertex

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. grew its holdings 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 purchasing an additional 395 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Vertex by 0.4% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 137,913 shares of the company’s stock worth $3,456,000 after buying an additional 564 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Vertex by 5.5% during the third quarter. Verdence Capital Advisors LLC now owns 11,538 shares of the company’s stock worth $296,000 after buying an additional 600 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Vertex by 6.5% in the second quarter. Teacher Retirement System of Texas now owns 10,310 shares of the company’s stock valued at $364,000 after acquiring an additional 630 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Vertex by 9.9% in the third quarter. Victory Capital Management Inc. now owns 8,354 shares of the company’s stock valued at $207,000 after acquiring an additional 753 shares during the last quarter. Institutional investors and hedge funds own 70.32% of the company’s stock.

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.