Lazard Freres Gestion S.A.S. Acquires 40,000 Shares of Vertex, Inc. $VERX

Lazard Freres Gestion S.A.S. grew its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 57.1% during the fourth quarter, Holdings Channel reports. The firm owned 110,000 shares of the company’s stock after purchasing an additional 40,000 shares during the period. Lazard Freres Gestion S.A.S.’s holdings in Vertex were worth $2,196,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of VERX. Raymond James Financial Inc. bought a new position in shares of Vertex during the 2nd quarter valued at $54,000. Advisors Asset Management Inc. raised its holdings in shares of Vertex by 25.7% during the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after purchasing an additional 395 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Vertex by 49.1% during the 4th quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock valued at $83,000 after purchasing an additional 1,376 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of Vertex during the 3rd quarter valued at $130,000. Finally, State of Wyoming raised its holdings in shares of Vertex by 37.9% during the 3rd quarter. State of Wyoming now owns 6,466 shares of the company’s stock valued at $160,000 after purchasing an additional 1,777 shares in the last quarter. Institutional investors own 70.32% of the company’s stock.

Vertex Stock Performance

Shares of VERX opened at $13.17 on Wednesday. The company has a market capitalization of $2.13 billion, a PE ratio of -263.40 and a beta of 0.81. Vertex, Inc. has a one year low of $10.59 and a one year high of $42.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.86 and a quick ratio of 0.86. The company’s fifty day moving average price is $12.64 and its 200 day moving average price is $16.30.

Vertex (NASDAQ:VERX) last announced its earnings results on Thursday, May 7th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The firm had revenue of $196.65 million for the quarter, compared to the consensus estimate of $194.82 million. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS. As a group, analysts expect that Vertex, Inc. will post 0.48 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on VERX. Piper Sandler raised their price target on shares of Vertex from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Jefferies Financial Group set a $14.00 price target on shares of Vertex in a report on Saturday, May 9th. Weiss Ratings downgraded shares of Vertex from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Stifel Nicolaus set a $16.00 target price on shares of Vertex in a report on Wednesday, February 11th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $19.00 target price on shares of Vertex in a report on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.93.

Insider Transactions at Vertex

In related news, Director Eric C. Andersen purchased 40,000 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were bought at an average cost of $12.91 per share, for a total transaction of $516,400.00. Following the transaction, the director directly owned 150,341 shares of the company’s stock, valued at approximately $1,940,902.31. This trade represents a 36.25% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 43.25% of the stock is owned by corporate insiders.

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.