Healthcare of Ontario Pension Plan Trust Fund Takes $37.80 Million Position in Vertex, Inc. $VERX

Key Points

• Healthcare of Ontario Pension Plan Trust Fund acquired 3.18 million Vertex shares worth approximately $37.8 million, representing a 1.99% stake. Institutional investors collectively own 70.32% of the company.
• Vertex exceeded quarterly expectations, reporting adjusted EPS of $0.17 versus $0.16 expected and revenue of $196.65 million, up 11.1% year over year.
• Analyst sentiment remains mixed: Vertex has a consensus “Hold” rating, with seven Buy, seven Hold, and one Sell rating, and an average price target of $20.20.

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Vertex, Inc. (NASDAQ:VERX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 3,178,800 shares of the company's stock, valued at approximately $37,796,000. Healthcare of Ontario Pension Plan Trust Fund owned 1.99% of Vertex at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its stake in Vertex by 21.1% in the 4th quarter. Jennison Associates LLC now owns 991,820 shares of the company's stock worth $19,807,000 after purchasing an additional 172,692 shares in the last quarter. Norris Perne & French LLP MI grew its position in shares of Vertex by 26.1% in the fourth quarter. Norris Perne & French LLP MI now owns 259,854 shares of the company's stock valued at $5,189,000 after purchasing an additional 53,718 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of Vertex by 42.2% in the fourth quarter. William Blair Investment Management LLC now owns 1,215,172 shares of the company's stock valued at $24,267,000 after purchasing an additional 360,791 shares in the last quarter. Hyperion Capital Advisors LP grew its position in shares of Vertex by 20.4% in the fourth quarter. Hyperion Capital Advisors LP now owns 650,000 shares of the company's stock valued at $12,980,000 after purchasing an additional 110,000 shares in the last quarter. Finally, Lazard Freres Gestion S.A.S. increased its holdings in shares of Vertex by 57.1% in the fourth quarter. Lazard Freres Gestion S.A.S. now owns 110,000 shares of the company's stock valued at $2,196,000 after purchasing an additional 40,000 shares during the last quarter. 70.32% of the stock is owned by hedge funds and other institutional investors.

Vertex Stock Performance

Shares of VERX stock opened at $11.87 on Monday. Vertex, Inc. has a 1-year low of $10.21 and a 1-year high of $35.25. The firm has a market cap of $1.92 billion, a PE ratio of -237.40 and a beta of 0.83. The company has a 50-day moving average of $12.46 and a two-hundred day moving average of $13.75. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.86 and a quick ratio of 0.86.

Vertex (NASDAQ:VERX - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%. The business had revenue of $196.65 million for the quarter, compared to the consensus estimate of $194.82 million. During the same period in the previous year, the firm earned $0.15 EPS. The business's revenue was up 11.1% on a year-over-year basis. On average, analysts predict that Vertex, Inc. will post 0.52 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on VERX shares. Citigroup boosted their price target on shares of Vertex from $15.00 to $16.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. BMO Capital Markets raised their price objective on shares of Vertex from $14.00 to $17.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. Wall Street Zen downgraded shares of Vertex from a "buy" rating to a "hold" rating in a research note on Saturday. Morgan Stanley reiterated an "equal weight" rating and issued a $15.00 target price (down from $19.00) on shares of Vertex in a report on Tuesday, July 21st. Finally, DA Davidson set a $15.00 price target on shares of Vertex in a research note on Friday, May 8th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Vertex presently has a consensus rating of "Hold" and an average target price of $20.20.

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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