Quantinno Capital Management LP Buys 104,006 Shares of Vertex, Inc. $VERX

Key Points

• Quantinno Capital Management increased its Vertex stake by 275.2% in the first quarter, purchasing 104,006 additional shares for a total holding of 141,793 shares valued at approximately $1.69 million. Institutional investors collectively own 70.32% of the company.
• Analyst sentiment is mixed, with seven Buy, seven Hold and one Sell rating; the stock has an average rating of Hold and an average price target of $17.43.
• Vertex reported quarterly revenue of $203.97 million and EPS of $0.20, exceeding analyst estimates, while revenue increased 10.5% year over year. Shares opened at $12.30, near their 50-day moving average and well below the 12-month high of $26.63.

Quantinno Capital Management LP grew its stake in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 275.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 141,793 shares of the company's stock after purchasing an additional 104,006 shares during the quarter. Quantinno Capital Management LP owned about 0.09% of Vertex worth $1,686,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Vertex in the first quarter valued at $37,796,000. Renaissance Technologies LLC lifted its stake in Vertex by 8.1% in the first quarter. Renaissance Technologies LLC now owns 290,500 shares of the company's stock valued at $3,454,000 after acquiring an additional 21,700 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Vertex by 1,906.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 935,668 shares of the company's stock valued at $11,125,000 after acquiring an additional 889,042 shares during the last quarter. Caxton Associates LLP bought a new position in shares of Vertex in the 1st quarter valued at about $132,000. Finally, Cetera Investment Advisers grew its position in shares of Vertex by 20.5% in the 1st quarter. Cetera Investment Advisers now owns 34,150 shares of the company's stock valued at $406,000 after acquiring an additional 5,814 shares during the period. Institutional investors own 70.32% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on VERX shares. BMO Capital Markets upped their target price on shares of Vertex from $14.00 to $15.00 and gave the company a "market perform" rating in a report on Tuesday, August 4th. The Goldman Sachs Group reiterated a "buy" rating and set a $21.00 price target on shares of Vertex in a report on Thursday, May 7th. Piper Sandler boosted their price target on Vertex from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. DA Davidson dropped their price objective on Vertex from $15.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 4th. Finally, Jefferies Financial Group set a $14.00 price objective on Vertex in a research report on Saturday, May 9th. Seven investment 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $17.43.

Vertex Stock Up 0.6%

Vertex stock opened at $12.30 on Thursday. The company's 50-day moving average price is $12.25 and its two-hundred day moving average price is $13.11. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.40. The stock has a market cap of $1.99 billion, a P/E ratio of 615.31 and a beta of 0.83. Vertex, Inc. has a twelve month low of $10.21 and a twelve month high of $26.63.

Vertex (NASDAQ:VERX - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. Vertex had a return on equity of 29.00% and a net margin of 0.45%.The company had revenue of $203.97 million during the quarter, compared to analysts' expectations of $202.21 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The business's revenue was up 10.5% on a year-over-year basis. As a group, analysts expect that Vertex, Inc. will post 0.54 EPS for the current year.

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.

Want to see what other hedge funds are holding VERX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex, Inc. (NASDAQ:VERX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source