Pier Capital LLC Lowers Stake in Vertex, Inc. $VERX

Pier Capital LLC reduced its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 16.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 244,568 shares of the company’s stock after selling 47,291 shares during the period. Pier Capital LLC owned approximately 0.15% of Vertex worth $4,884,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of VERX. Royal Bank of Canada grew its position in Vertex by 36.3% during the 1st 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. grew its position in 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 purchasing an additional 395 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 worth $2,869,000 after purchasing an additional 3,461 shares during the last quarter. Prudential Financial Inc. grew its position in Vertex by 92.1% during the 2nd quarter. Prudential Financial Inc. now owns 8,105 shares of the company’s stock worth $286,000 after purchasing an additional 3,885 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Vertex by 10,910.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 13,543 shares of the company’s stock worth $479,000 after purchasing an additional 13,420 shares during the last quarter. 70.32% of the stock is owned by hedge funds and other institutional investors.

Vertex Stock Up 15.9%

Shares of NASDAQ:VERX opened at $14.67 on Friday. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 366.84 and a beta of 0.81. The firm’s 50-day simple moving average is $12.86 and its 200-day simple moving average is $16.97. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.30. Vertex, Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $42.44.

Vertex (NASDAQ:VERX) last issued its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. Vertex had a net margin of 0.96% and a return on equity of 24.70%. The company had revenue of $196.65 million for the quarter, compared to analyst estimates of $194.82 million. During the same period in the prior year, the business posted $0.15 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities research analysts predict that Vertex, Inc. will post 0.47 earnings per share for the current year.

Insider Activity

In related news, insider Jeffrey Westphal bought 247,740 shares of the stock in a transaction on Friday, February 13th. The shares were bought at an average cost of $13.08 per share, for a total transaction of $3,240,439.20. Following the completion of the transaction, the insider owned 247,740 shares of the company’s stock, valued at $3,240,439.20. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric C. Andersen bought 40,000 shares of the stock in a transaction on Friday, February 20th. The shares were bought at an average price of $12.91 per share, for a total transaction of $516,400.00. Following the completion of the transaction, the director directly owned 150,341 shares of the company’s stock, valued at $1,940,902.31. This trade represents a 36.25% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 437,740 shares of company stock worth $5,636,339 over the last 90 days. 43.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on VERX shares. Needham & Company LLC lowered their price objective on shares of Vertex from $30.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th. Stifel Nicolaus set a $16.00 price objective on shares of Vertex in a research report on Wednesday, February 11th. DA Davidson set a $13.00 target price on shares of Vertex in a report on Thursday, February 12th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $21.00 target price on shares of Vertex in a report on Thursday. Finally, UBS Group set a $25.00 target price on shares of Vertex in a report on Thursday, February 12th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.71.

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.