Allianz Asset Management GmbH Takes Position in Vertex, Inc. $VERX

Key Points

• Allianz Asset Management acquired 190,027 shares of Vertex, valued at approximately $2.18 million, giving it a 0.12% stake. Institutional investors and hedge funds collectively own 70.32% of the company.
• Vertex reported quarterly revenue of $203.97 million and adjusted EPS of $0.20, both slightly ahead of analyst expectations; revenue increased 10.5% year over year.
• Analyst sentiment is mixed, with seven Buy, seven Hold, and one Sell rating. The stock has a consensus Hold rating and a $17.43 price target, compared with a recent price of $12.37.

Allianz Asset Management GmbH acquired a new position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 190,027 shares of the company's stock, valued at approximately $2,182,000. Allianz Asset Management GmbH owned approximately 0.12% of Vertex at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new position in Vertex during the fourth quarter worth about $32,000. Empowered Funds LLC acquired a new stake in shares of Vertex in the fourth quarter valued at approximately $45,000. Raymond James Financial Inc. purchased a new position in shares of Vertex during the 2nd quarter worth approximately $54,000. Advisors Asset Management Inc. increased its stake in shares of Vertex by 36.9% during the 4th quarter. Advisors Asset Management Inc. now owns 3,320 shares of the company's stock worth $66,000 after purchasing an additional 895 shares in the last quarter. Finally, Palladiem LLC acquired a new position in shares of Vertex during the 4th quarter worth approximately $88,000. 70.32% of the stock is currently owned by institutional investors and hedge funds.

Vertex Price Performance

VERX stock opened at $12.37 on Thursday. The stock has a 50-day moving average price of $12.89 and a two-hundred day moving average price of $12.79. Vertex, Inc. has a 12-month low of $10.21 and a 12-month high of $26.54. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.40. The company has a market cap of $2.01 billion, a PE ratio of 618.81 and a beta of 0.83.

Vertex (NASDAQ:VERX - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. Vertex had a return on equity of 29.00% and a net margin of 0.45%.The company had revenue of $203.97 million for the quarter, compared to the consensus estimate of $202.21 million. During the same period last year, the business posted $0.15 EPS. The company's quarterly revenue was up 10.5% compared to the same quarter last year. As a group, research analysts predict that Vertex, Inc. will post 0.54 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on VERX. TD Cowen assumed coverage on shares of Vertex in a research note on Monday, June 29th. They issued a "buy" rating and a $14.00 target price for the company. Morgan Stanley reiterated an "equal weight" rating and set a $15.00 price target (down from $19.00) on shares of Vertex in a report on Tuesday, July 21st. BMO Capital Markets boosted their price objective on shares of Vertex from $14.00 to $15.00 and gave the company a "market perform" rating in a research report on Tuesday, August 4th. DA Davidson reduced their price objective on shares of Vertex from $15.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 4th. Finally, Weiss Ratings upgraded shares of Vertex from a "sell (e+)" rating to a "sell (d)" rating in a research report on Wednesday, August 5th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $17.43.

About Vertex

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.

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