Y Intercept Hong Kong Ltd Takes $1.26 Million Position in Vertex, Inc. $VERX

Y Intercept Hong Kong Ltd purchased a new position in Vertex, Inc. (NASDAQ:VERX) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 50,794 shares of the company’s stock, valued at approximately $1,259,000.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of Vertex in the 2nd quarter worth $54,000. Blue Trust Inc. lifted its holdings in shares of Vertex by 44.4% in the 2nd quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock valued at $59,000 after acquiring an additional 512 shares during the last quarter. Advisors Asset Management Inc. lifted 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 valued at $68,000 after acquiring an additional 395 shares during the last quarter. Osaic Holdings Inc. grew its position in Vertex by 108.8% in the second quarter. Osaic Holdings Inc. now owns 5,781 shares of the company’s stock worth $204,000 after acquiring an additional 3,012 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in Vertex by 17.0% during the second quarter. Ameritas Investment Partners Inc. now owns 6,643 shares of the company’s stock worth $235,000 after acquiring an additional 965 shares during the last quarter. Hedge funds and other institutional investors own 70.32% of the company’s stock.

Vertex Stock Down 0.8%

Vertex stock opened at $18.55 on Friday. Vertex, Inc. has a 1-year low of $18.13 and a 1-year high of $60.71. The business has a fifty day moving average price of $19.68 and a 200-day moving average price of $23.61. 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 stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of -53.00, a PEG ratio of 2.85 and a beta of 0.60.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $192.11 million during the quarter, compared to analysts’ expectations of $191.62 million. Vertex had a positive return on equity of 26.84% and a negative net margin of 7.32%.The firm’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business posted $0.16 earnings per share. Equities research analysts forecast that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Vertex announced that its board has authorized 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 shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

VERX has been the subject of several analyst reports. Piper Sandler lowered their price objective on Vertex from $42.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of Vertex in a research report on Wednesday, January 21st. Jefferies Financial Group set a $28.00 price target on shares of Vertex in a research note on Monday, November 3rd. The Goldman Sachs Group set a $25.00 price objective on Vertex in a report on Wednesday, January 14th. Finally, JMP Securities set a $37.00 price objective on shares of Vertex in a research note on Tuesday, November 4th. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Vertex currently has an average rating of “Moderate Buy” and an average price target of $32.40.

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.