Vertex (NASDAQ:VERX) Insider Acquires $3,240,439.20 in Stock

Vertex, Inc. (NASDAQ:VERX) insider Jeffrey Westphal acquired 247,740 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was acquired at an average cost of $13.08 per share, with a total value of $3,240,439.20. Following the completion of the transaction, the insider owned 247,740 shares of the company’s stock, valued at approximately $3,240,439.20. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Tuesday, February 17th, Jeffrey Westphal bought 150,000 shares of Vertex stock. The shares were acquired at an average cost of $12.53 per share, for a total transaction of $1,879,500.00.

Vertex Stock Performance

Vertex stock traded down $0.25 during mid-day trading on Wednesday, hitting $12.09. 4,185,751 shares of the company’s stock traded hands, compared to its average volume of 2,517,920. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50 day simple moving average of $18.47 and a two-hundred day simple moving average of $21.85. Vertex, Inc. has a fifty-two week low of $11.96 and a fifty-two week high of $48.00. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 302.33, a P/E/G ratio of 1.44 and a beta of 0.59.

Vertex (NASDAQ:VERX) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 return on equity of 25.25% and a net margin of 0.96%.The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.15 earnings per share. On average, research analysts expect that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Vertex declared that its Board of Directors has approved a stock buyback program on Monday, November 3rd that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

VERX has been the topic of a number of recent research reports. Needham & Company LLC lowered their price objective on Vertex from $30.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. Jefferies Financial Group downgraded Vertex from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a research note on Wednesday, February 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Vertex in a research report on Wednesday, January 21st. Stifel Nicolaus set a $16.00 price objective on shares of Vertex in a research note on Wednesday, February 11th. Finally, BMO Capital Markets dropped their target price on shares of Vertex from $22.00 to $16.00 and set a “market perform” rating for the company in a research report on Thursday, February 12th. Eight research 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.com, the stock currently has a consensus rating of “Hold” and an average target price of $23.07.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC acquired a new stake in Vertex during the 4th quarter worth approximately $45,000. XTX Topco Ltd raised its stake in shares of Vertex by 436.2% during the fourth quarter. XTX Topco Ltd now owns 107,909 shares of the company’s stock valued at $2,155,000 after acquiring an additional 87,786 shares during the last quarter. VARCOV Co. acquired a new position in shares of Vertex during the fourth quarter worth $391,000. Saba Capital Management L.P. lifted its holdings in Vertex by 29.5% during the 4th quarter. Saba Capital Management L.P. now owns 263,474 shares of the company’s stock worth $5,262,000 after buying an additional 60,000 shares during the period. Finally, EFG International AG bought a new stake in shares of Vertex in the 4th quarter valued at about $2,912,000. 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.