Vertex, Inc. $VERX Shares Bought by Gagnon Securities LLC

Gagnon Securities LLC grew its holdings in Vertex, Inc. (NASDAQ:VERX) by 40.3% during the third quarter, HoldingsChannel.com reports. The fund owned 378,685 shares of the company’s stock after purchasing an additional 108,839 shares during the quarter. Vertex makes up about 1.9% of Gagnon Securities LLC’s portfolio, making the stock its 21st biggest holding. Gagnon Securities LLC’s holdings in Vertex were worth $9,388,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DLD Asset Management LP purchased a new stake in Vertex during the 2nd quarter worth $300,348,000. Wasatch Advisors LP acquired a new position in shares of Vertex during the second quarter worth about $88,293,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Vertex by 231.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,567,902 shares of the company’s stock worth $88,448,000 after purchasing an additional 2,490,097 shares in the last quarter. Champlain Investment Partners LLC purchased a new stake in shares of Vertex in the second quarter worth about $60,381,000. Finally, Geneva Capital Management LLC grew its stake in shares of Vertex by 47.7% in the second quarter. Geneva Capital Management LLC now owns 3,017,735 shares of the company’s stock valued at $106,632,000 after buying an additional 974,530 shares in the last quarter. Institutional investors and hedge funds own 70.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Vertex in a report on Wednesday, January 21st. The Goldman Sachs Group set a $25.00 price objective on shares of Vertex in a research report on Wednesday, January 14th. Citigroup cut shares of Vertex from a “market outperform” rating to a “hold” rating in a research report on Tuesday, November 4th. Stifel Nicolaus decreased their target price on shares of Vertex from $28.00 to $23.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. Finally, Robert W. Baird set a $25.00 price target on shares of Vertex in a research note on Tuesday, November 4th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.40.

Vertex Price Performance

Shares of VERX stock opened at $18.70 on Friday. The firm has a fifty day moving average of $19.70 and a two-hundred day moving average of $23.81. The firm has a market cap of $2.98 billion, a P/E ratio of -53.43, a P/E/G ratio of 3.01 and a beta of 0.60. Vertex, Inc. has a 1-year low of $18.13 and a 1-year high of $60.71. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.01 and a quick ratio of 1.01.

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

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

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.