406,757 Shares in Vertex, Inc. $VERX Acquired by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC purchased a new stake in Vertex, Inc. (NASDAQ:VERX) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 406,757 shares of the company’s stock, valued at approximately $4,836,000. Vertex accounts for 0.7% of Counterpoint Mutual Funds LLC’s portfolio, making the stock its 16th largest position.

Other hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC increased its holdings in shares of Vertex by 21.1% in the fourth quarter. Jennison Associates LLC now owns 991,820 shares of the company’s stock valued at $19,807,000 after purchasing an additional 172,692 shares during the last quarter. Hyperion Capital Advisors LP acquired a new stake in shares of Vertex during the 3rd quarter worth about $13,387,000. ShawSpring Partners LLC boosted its holdings in shares of Vertex by 51.8% during the 3rd quarter. ShawSpring Partners LLC now owns 1,081,446 shares of the company’s stock worth $26,809,000 after buying an additional 369,001 shares during the period. Bamco Inc. NY bought a new stake in shares of Vertex during the 3rd quarter worth about $6,149,000. Finally, Granahan Investment Management LLC boosted its holdings in shares of Vertex by 431.5% during the 3rd quarter. Granahan Investment Management LLC now owns 289,309 shares of the company’s stock worth $7,172,000 after buying an additional 234,881 shares during the period. Institutional investors and hedge funds own 70.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $21.00 price target on shares of Vertex in a report on Thursday, May 7th. Wall Street Zen upgraded Vertex from a “hold” rating to a “buy” rating in a report on Saturday. Morgan Stanley reaffirmed an “overweight” rating and issued a $19.00 target price on shares of Vertex in a research report on Friday, May 8th. Weiss Ratings lowered Vertex from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Vertex in a research note on Monday, June 8th. Eight equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Vertex currently has an average rating of “Hold” and a consensus target price of $20.47.

Vertex Stock Performance

Shares of Vertex stock opened at $12.85 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a 50-day moving average of $12.62 and a 200-day moving average of $14.59. Vertex, Inc. has a 52-week low of $10.21 and a 52-week high of $36.75. The stock has a market cap of $2.08 billion, a PE ratio of -257.00 and a beta of 0.83.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%. The business had revenue of $196.65 million for the quarter, compared to analyst estimates of $194.82 million. During the same period last year, the firm earned $0.15 earnings per share. Vertex’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Vertex, Inc. will post 0.52 EPS for the current year.

Vertex 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.