Insider Buying: Vertex (NASDAQ:VERX) Insider Acquires 150,000 Shares of Stock

Vertex, Inc. (NASDAQ:VERX) insider Jeffrey Westphal acquired 150,000 shares of Vertex stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average cost of $12.53 per share, with a total value of $1,879,500.00. Following the completion of the transaction, the insider directly owned 397,740 shares of the company’s stock, valued at $4,983,682.20. This trade represents a 60.55% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

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

Vertex Stock Down 2.0%

Shares of NASDAQ VERX traded down $0.25 during midday trading on Wednesday, reaching $12.09. The company’s stock had a trading volume of 4,185,751 shares, compared to its average volume of 2,517,920. The stock has a 50 day simple moving average of $18.47 and a 200-day simple moving average of $21.85. 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 capitalization of $1.93 billion, a price-to-earnings ratio of 302.33, a PEG ratio of 1.44 and a beta of 0.59. Vertex, Inc. has a fifty-two week low of $11.96 and a fifty-two week high of $48.00.

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

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VERX. Weiss Ratings reiterated a “sell (d)” rating on shares of Vertex in a research note on Wednesday, January 21st. The Goldman Sachs Group dropped their price target on shares of Vertex from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. DA Davidson set a $13.00 price objective on shares of Vertex in a research report on Thursday, February 12th. UBS Group set a $25.00 price objective on shares of Vertex in a research note on Thursday, February 12th. Finally, Stifel Nicolaus set a $16.00 price target on Vertex in a report on Wednesday, February 11th. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.07.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VERX. DLD Asset Management LP acquired a new position in shares of Vertex in the second quarter valued at about $300,348,000. Wasatch Advisors LP bought a new stake in Vertex in the 2nd quarter valued at about $88,293,000. Massachusetts Financial Services Co. MA grew its position in shares of Vertex by 231.0% during the 3rd 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 in the last quarter. Champlain Investment Partners LLC bought a new position in shares of Vertex during the second quarter worth approximately $60,381,000. Finally, Legacy Advisors LLC raised its position in shares of Vertex by 2,730.1% in the third quarter. Legacy Advisors LLC now owns 1,343,779 shares of the company’s stock valued at $33,312,000 after buying an additional 1,296,297 shares in the last quarter. 70.32% of the stock is owned by institutional investors and hedge funds.

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.