Premier Fund Managers Ltd Sells 120,054 Shares of Vertex, Inc. $VERX

Key Points

• Premier Fund Managers trimmed its stake in Vertex by 20.9%, selling 120,054 shares in Q4 and now holding 453,303 shares worth about $9.08 million (0.28% of the company).
• Company insiders purchased 437,740 shares (~$5.64 million) in the past three months, lifting insider ownership to 43.25%, signaling significant insider conviction despite institutional changes.
• Vertex stock fell 7.2%, trading near $12.65 with a 52-week range of $10.59–$42.44; analysts have a consensus rating of "Hold" and an average price target of $20.71.

Premier Fund Managers Ltd trimmed its holdings in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 20.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 453,303 shares of the company's stock after selling 120,054 shares during the quarter. Premier Fund Managers Ltd owned 0.28% of Vertex worth $9,082,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Vertex by 9.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,387,126 shares of the company's stock worth $207,917,000 after purchasing an additional 689,143 shares during the period. Principal Financial Group Inc. increased its position in Vertex by 44.6% in the third quarter. Principal Financial Group Inc. now owns 892,949 shares of the company's stock worth $22,136,000 after buying an additional 275,520 shares during the last quarter. Herald Investment Management Ltd increased its position in Vertex by 81.8% in the third quarter. Herald Investment Management Ltd now owns 200,000 shares of the company's stock worth $4,958,000 after buying an additional 90,000 shares during the last quarter. Gagnon Securities LLC raised its stake in shares of Vertex by 40.3% in the third quarter. Gagnon Securities LLC now owns 378,685 shares of the company's stock valued at $9,388,000 after buying an additional 108,839 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Vertex by 231.0% in 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 buying an additional 2,490,097 shares during the period. 70.32% of the stock is owned by hedge funds and other institutional investors.

Vertex Trading Down 7.2%

NASDAQ VERX opened at $12.65 on Thursday. The stock has a 50 day simple moving average of $12.83 and a two-hundred day simple moving average of $17.04. Vertex, Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $42.44. The stock has a market cap of $2.02 billion, a P/E ratio of 316.43 and a beta of 0.81. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.98 and a current ratio of 0.98.

Vertex (NASDAQ:VERX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The business had revenue of $194.71 million for the quarter, compared to analysts' expectations of $194.33 million. Vertex had a return on equity of 24.70% and a net margin of 0.96%.The business's revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 EPS. On average, analysts forecast that Vertex, Inc. will post 0.47 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group cut their target price on Vertex from $26.00 to $23.00 and set a "buy" rating for the company in a research note on Thursday, February 12th. Weiss Ratings reissued a "sell (d)" rating on shares of Vertex in a report on Monday, April 20th. DA Davidson set a $13.00 price objective on shares of Vertex in a research report on Thursday, February 12th. UBS Group set a $25.00 target price on shares of Vertex in a report on Thursday, February 12th. Finally, Citizens Jmp lowered their target price on shares of Vertex from $37.00 to $25.00 and set a "market outperform" rating on the stock in a research note on Thursday, February 12th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Vertex has a consensus rating of "Hold" and an average price target of $20.71.

Insider Activity

In other news, insider Jeffrey Westphal acquired 150,000 shares of Vertex stock in a transaction on Tuesday, February 17th. The stock was acquired at an average cost of $12.53 per share, for a total transaction of $1,879,500.00. Following the purchase, the insider owned 397,740 shares in the company, valued at $4,983,682.20. This trade represents a 60.55% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric C. Andersen bought 40,000 shares of the company's stock in a transaction dated Friday, February 20th. The stock was purchased at an average price of $12.91 per share, for a total transaction of $516,400.00. Following the purchase, 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 position. The SEC filing for this purchase provides additional information. Insiders have purchased 437,740 shares of company stock worth $5,636,339 in the last three months. 43.25% of the stock is currently owned by insiders.

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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