Neuberger Berman Group LLC Trims Stock Holdings in Vertex, Inc. $VERX

Key Points

• Neuberger Berman reduced its stake in Vertex (NASDAQ: VERX) by 5.6% in Q3, selling 177,908 shares and now holding 2,988,570 shares (~1.87%) valued at about $74.1 million, while institutional investors collectively own roughly 70.3% of the company.
• Analysts have trimmed targets and the stock carries a consensus rating of 'Hold' with a $23.07 price target; the latest quarter matched EPS estimates at $0.17 and revenue of $194.7M (+9.1% YoY), though the shares trade at a high P/E (~381) on a $2.43B market cap.
• Insiders have been buying, acquiring 437,740 shares (~$5.64M) in the past three months—including Jeffrey Westphal's 247,740-share purchase—leaving insiders with roughly 43.25% ownership.

Neuberger Berman Group LLC lowered its stake in Vertex, Inc. (NASDAQ:VERX - Free Report) by 5.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,988,570 shares of the company's stock after selling 177,908 shares during the quarter. Neuberger Berman Group LLC owned about 1.87% of Vertex worth $74,087,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. DLD Asset Management LP purchased a new stake in Vertex in the 2nd quarter worth approximately $300,348,000. Vanguard Group Inc. raised its stake in Vertex by 9.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,387,126 shares of the company's stock worth $207,917,000 after acquiring an additional 689,143 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Vertex by 231.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,567,902 shares of the company's stock valued at $88,448,000 after purchasing an additional 2,490,097 shares in the last quarter. Wasatch Advisors LP purchased a new position in Vertex during the second quarter valued at approximately $88,293,000. Finally, Champlain Investment Partners LLC boosted its position in shares of Vertex by 19.9% in the third quarter. Champlain Investment Partners LLC now owns 2,049,490 shares of the company's stock worth $50,807,000 after purchasing an additional 340,680 shares during the period. 70.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VERX has been the subject of a number of analyst reports. Citizens Jmp reduced their price objective on shares of Vertex from $37.00 to $25.00 and set a "market outperform" rating for the company in a research note on Thursday, February 12th. The Goldman Sachs Group dropped their target price on shares of Vertex from $26.00 to $23.00 and set a "buy" rating for the company in a report on Thursday, February 12th. Morgan Stanley set a $20.00 price target on Vertex in a research note on Thursday, February 12th. BMO Capital Markets decreased their price target on Vertex from $22.00 to $16.00 and set a "market perform" rating on the stock in a report on Thursday, February 12th. Finally, Stifel Nicolaus set a $16.00 price objective on Vertex in a research report on Wednesday, February 11th. Seven 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 company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $23.07.

Vertex Trading Down 2.2%

Vertex stock opened at $15.25 on Friday. Vertex, Inc. has a 1 year low of $11.86 and a 1 year high of $42.44. The firm's 50 day moving average price is $16.86 and its 200-day moving average price is $20.71. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $2.43 billion, a P/E ratio of 381.35, a PEG ratio of 1.86 and a beta of 0.63.

Vertex (NASDAQ:VERX - Get Free Report) last issued its earnings results on Wednesday, February 11th. The company reported $0.17 earnings per share for the quarter, hitting analysts' consensus estimates of $0.17. The firm had revenue of $194.71 million during 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 for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 earnings per share. On average, equities analysts predict that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jeffrey Westphal acquired 247,740 shares of the company's stock in a transaction on Friday, February 13th. The stock was acquired at an average price of $13.08 per share, with a total value of $3,240,439.20. Following the acquisition, the insider directly owned 247,740 shares of the company's stock, valued at approximately $3,240,439.20. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Eric C. Andersen acquired 40,000 shares of the business's stock in a transaction dated Friday, February 20th. The shares were purchased at an average price of $12.91 per share, with a total value of $516,400.00. Following the transaction, the director owned 150,341 shares of the company's stock, valued at approximately $1,940,902.31. This represents a 36.25% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 437,740 shares of company stock valued at $5,636,339 in the last three months. Insiders own 43.25% of the company's stock.

Vertex Company 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.

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