Quantinno Capital Management LP Acquires 104,006 Shares of Vertex, Inc. $VERX

Quantinno Capital Management LP lifted its holdings in Vertex, Inc. (NASDAQ:VERX) by 275.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 141,793 shares of the company’s stock after acquiring an additional 104,006 shares during the period. Quantinno Capital Management LP’s holdings in Vertex were worth $1,686,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of VERX. Advisors Asset Management Inc. boosted its holdings in 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 purchasing an additional 395 shares during the period. Victory Capital Management Inc. grew its position in shares of Vertex by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 8,354 shares of the company’s stock worth $207,000 after purchasing an additional 753 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Vertex by 1.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,056 shares of the company’s stock worth $2,933,000 after purchasing an additional 1,121 shares during the period. Assetmark Inc. increased its holdings in shares of Vertex by 49.1% during the fourth quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock worth $83,000 after purchasing an additional 1,376 shares during the period. Finally, California State Teachers Retirement System raised its position in shares of Vertex by 2.2% in the second quarter. California State Teachers Retirement System now owns 63,009 shares of the company’s stock valued at $2,226,000 after buying an additional 1,383 shares in the last quarter. 70.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. DA Davidson cut their price target on Vertex from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, August 4th. Needham & Company LLC reaffirmed a “buy” rating on shares of Vertex in a report on Monday, June 8th. TD Cowen initiated coverage on Vertex in a research report on Monday, June 29th. They set a “buy” rating and a $14.00 target price for the company. Wall Street Zen raised Vertex from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Jefferies Financial Group set a $14.00 price target on Vertex in a research report on Saturday, May 9th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.43.

Vertex Stock Up 0.6%

Shares of NASDAQ VERX opened at $12.30 on Thursday. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 615.31 and a beta of 0.83. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.40. Vertex, Inc. has a 12 month low of $10.21 and a 12 month high of $26.63. The stock has a 50-day moving average price of $12.25 and a two-hundred day moving average price of $13.11.

Vertex (NASDAQ:VERX) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The company had revenue of $203.97 million for the quarter, compared to analyst estimates of $202.21 million. Vertex had a net margin of 0.45% and a return on equity of 29.00%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 EPS. As a group, analysts forecast that Vertex, Inc. will post 0.54 earnings per share for the current fiscal year.

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.