Quantbot Technologies LP Buys Shares of 75,914 Vertex, Inc. $VERX

Key Points

• Quantbot Technologies LP purchased a new stake of 75,914 shares of Vertex (VERX) in Q3, valued at about $1.88 million.
• Insiders have been buying heavily: Jeffrey Westphal acquired 150,000 shares (~$1.88M) and director Eric C. Andersen bought 40,000 shares, with insiders purchasing a total of 437,740 shares (~$5.64M) over the last 90 days, bringing insider ownership to 43.25%.
• Vertex trades around $15.15 (52-week range $11.86–$42.44) with a market cap of about $2.42 billion, a high P/E (~379), and mixed analyst coverage (average rating: "Hold", average target: $23.07).

Quantbot Technologies LP purchased a new stake in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 75,914 shares of the company's stock, valued at approximately $1,882,000.

A number of other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. raised its stake in shares of Vertex by 25.7% during the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company's stock worth $68,000 after acquiring an additional 395 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Vertex by 0.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 137,913 shares of the company's stock worth $3,456,000 after purchasing an additional 564 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in Vertex by 5.5% in the third quarter. Verdence Capital Advisors LLC now owns 11,538 shares of the company's stock worth $296,000 after purchasing an additional 600 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Vertex by 6.5% during the second quarter. Teacher Retirement System of Texas now owns 10,310 shares of the company's stock worth $364,000 after purchasing an additional 630 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Vertex by 17.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,643 shares of the company's stock valued at $235,000 after purchasing an additional 965 shares during the last quarter. 70.32% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Jeffrey Westphal bought 150,000 shares of the stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average price of $12.53 per share, for a total transaction of $1,879,500.00. Following the completion of the purchase, the insider directly owned 397,740 shares of the company's stock, valued at $4,983,682.20. This represents a 60.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric C. Andersen purchased 40,000 shares of Vertex stock in a transaction that occurred on Friday, February 20th. The shares were bought at an average price of $12.91 per share, with a total value of $516,400.00. Following the completion of the transaction, the director owned 150,341 shares of the company's stock, valued at $1,940,902.31. This represents a 36.25% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 437,740 shares of company stock worth $5,636,339 over the last ninety days. 43.25% of the stock is owned by insiders.

Vertex Price Performance

Shares of NASDAQ VERX opened at $15.15 on Thursday. Vertex, Inc. has a 52 week low of $11.86 and a 52 week high of $42.44. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.30. The firm has a market cap of $2.42 billion, a P/E ratio of 378.84, a P/E/G ratio of 1.74 and a beta of 0.63. The business's 50 day moving average price is $17.05 and its 200 day moving average price is $20.82.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on VERX shares. Stifel Nicolaus set a $16.00 target price on Vertex in a research note on Wednesday, February 11th. Piper Sandler dropped their price target on Vertex from $20.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, February 12th. Weiss Ratings restated a "sell (d)" rating on shares of Vertex in a report on Wednesday, January 21st. Needham & Company LLC lowered their target price on shares of Vertex from $30.00 to $20.00 and set a "buy" rating for the company in a research note on Wednesday, February 11th. Finally, The Goldman Sachs Group dropped 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. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $23.07.

Vertex 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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