North Star Asset Management Inc. Increases Stake in Vertex, Inc. $VERX

North Star Asset Management Inc. increased its position in shares of Vertex, Inc. (NASDAQ:VERX) by 47.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 195,015 shares of the company’s stock after purchasing an additional 63,063 shares during the period. North Star Asset Management Inc. owned approximately 0.12% of Vertex worth $4,834,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in Vertex by 36.3% in the first quarter. Royal Bank of Canada now owns 180,978 shares of the company’s stock worth $6,336,000 after purchasing an additional 48,181 shares during the last quarter. Advisors Asset Management Inc. lifted its stake 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 worth $68,000 after acquiring an additional 395 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Vertex by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,935 shares of the company’s stock valued at $2,869,000 after acquiring an additional 3,461 shares during the period. State of New Jersey Common Pension Fund D grew its position in Vertex by 8.8% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 48,232 shares of the company’s stock valued at $1,704,000 after acquiring an additional 3,903 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in Vertex by 194.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 54,167 shares of the company’s stock worth $1,914,000 after purchasing an additional 35,779 shares during the period. 70.32% of the stock is currently owned by institutional investors.

Vertex Stock Up 10.2%

Vertex stock opened at $13.26 on Wednesday. Vertex, Inc. has a 1-year low of $11.86 and a 1-year high of $43.56. The business has a fifty day moving average price of $17.73 and a 200-day moving average price of $21.26. 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 $2.12 billion, a price-to-earnings ratio of 331.58, a PEG ratio of 1.43 and a beta of 0.59.

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

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

Insiders Place Their Bets

In other news, Director Eric C. Andersen bought 40,000 shares of Vertex stock in a transaction that occurred on Friday, February 20th. The stock was bought at an average price of $12.91 per share, for a total transaction of $516,400.00. Following the purchase, the director directly owned 150,341 shares of the company’s stock, valued at approximately $1,940,902.31. The trade was a 36.25% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey Westphal purchased 247,740 shares of the company’s stock in a transaction on Friday, February 13th. The shares were purchased at an average price of $13.08 per share, for a total transaction of $3,240,439.20. Following the purchase, the insider owned 247,740 shares in the company, valued at approximately $3,240,439.20. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 437,740 shares of company stock valued at $5,636,339 in the last 90 days. 43.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group lowered shares of Vertex from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a report on Wednesday, February 11th. BMO Capital Markets reduced their target price on shares of Vertex from $22.00 to $16.00 and set a “market perform” rating on the stock in a research report on Thursday, February 12th. Piper Sandler lowered their price target on Vertex from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. Citigroup reduced their price objective on Vertex from $22.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. Finally, UBS Group set a $25.00 target price on Vertex in a report on Thursday, February 12th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.07.

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.