Geneva Capital Management LLC Has $72.71 Million Stock Holdings in Vertex, Inc. $VERX

Key Points

• Geneva Capital Management reduced its stake by 2.8% and now holds 2,932,884 shares worth $72.71 million, representing about 1.84% of Vertex and its 28th largest position.
• Corporate insiders bought heavily43.25%.
• Analysts are mixed with a consensus rating of "Hold" and a $23.07 average price target; the stock trades near $14.26 with a high P/E (~357) while the company reported Q results showing 9.1% revenue growth and EPS in line with estimates.

Geneva Capital Management LLC decreased its position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 2.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,932,884 shares of the company's stock after selling 84,851 shares during the period. Vertex accounts for approximately 1.2% of Geneva Capital Management LLC's portfolio, making the stock its 28th biggest position. Geneva Capital Management LLC owned about 1.84% of Vertex worth $72,706,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of Vertex during the 2nd quarter valued at about $54,000. Advisors Asset Management Inc. raised its position in Vertex by 25.7% during the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company's stock valued at $68,000 after acquiring an additional 395 shares in the last quarter. State of Wyoming lifted its stake in Vertex by 37.9% in the third quarter. State of Wyoming now owns 6,466 shares of the company's stock valued at $160,000 after acquiring an additional 1,777 shares during the last quarter. Osaic Holdings Inc. grew its position in Vertex by 108.8% in the second quarter. Osaic Holdings Inc. now owns 5,781 shares of the company's stock worth $204,000 after acquiring an additional 3,012 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Vertex by 9.9% in the third quarter. Victory Capital Management Inc. now owns 8,354 shares of the company's stock worth $207,000 after acquiring an additional 753 shares in the last quarter. Hedge funds and other institutional investors own 70.32% of the company's stock.

Insider Transactions at Vertex

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VERX. Needham & Company LLC cut their price target on shares of Vertex from $30.00 to $20.00 and set a "buy" rating on the stock in a report on Wednesday, February 11th. The Goldman Sachs Group lowered their target price on shares of Vertex from $26.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, February 12th. Stifel Nicolaus set a $16.00 target price on Vertex in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Vertex in a research report on Wednesday, January 21st. Finally, UBS Group set a $25.00 price target on Vertex in a research note on Thursday, February 12th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $23.07.

Vertex Price Performance

Shares of Vertex stock opened at $14.26 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.30. The firm has a fifty day simple moving average of $16.64 and a 200-day simple moving average of $20.49. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 356.59, a PEG ratio of 1.78 and a beta of 0.63. Vertex, Inc. has a 1-year low of $11.86 and a 1-year high of $42.44.

Vertex (NASDAQ:VERX - Get Free Report) last posted its earnings results on Wednesday, February 11th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.17. The business had revenue of $194.71 million for the quarter, compared to analyst estimates of $194.33 million. Vertex had a net margin of 0.96% and a return on equity of 24.70%. Vertex's revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $0.15 EPS. On average, sell-side analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current year.

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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