Vertex, Inc. $VERX Shares Acquired by ShawSpring Partners LLC

Key Points

• ShawSpring Partners increased its position in Vertex by 51.8%, buying 369,001 shares to hold 1,081,446 shares (about 0.68% of Vertex) worth $26.8 million, making Vertex roughly 4.0% of ShawSpring’s portfolio and its 10th largest holding.
• Corporate insiders have been buying heavily—Director Eric C. Andersen bought 40,000 shares and Jeffrey Westphal bought 150,000 shares—and insiders acquired 437,740 shares (~$5.64M) last quarter, bringing insider ownership to about 43.25%.
• Company and market snapshot: Vertex has a $2.20B market cap, P/E ~344, last quarter EPS of $0.17 (in line) with revenue up 9.1% YoY, and analysts hold an average rating of "Hold" with an average price target of $23.07 after several recent downward revisions.

ShawSpring Partners LLC boosted its position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 51.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,081,446 shares of the company's stock after buying an additional 369,001 shares during the quarter. Vertex makes up approximately 4.0% of ShawSpring Partners LLC's holdings, making the stock its 10th largest holding. ShawSpring Partners LLC owned about 0.68% of Vertex worth $26,809,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VERX. Raymond James Financial Inc. acquired a new position in shares of Vertex in the 2nd quarter worth approximately $54,000. Advisors Asset Management Inc. grew its stake in Vertex by 25.7% in the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company's stock valued at $68,000 after purchasing an additional 395 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of Vertex during the 3rd quarter worth approximately $130,000. Osaic Holdings Inc. grew its holdings in Vertex by 108.8% during the second quarter. Osaic Holdings Inc. now owns 5,781 shares of the company's stock valued at $204,000 after purchasing an additional 3,012 shares during the period. Finally, State of Wyoming raised its position in Vertex by 37.9% during the third quarter. State of Wyoming now owns 6,466 shares of the company's stock worth $160,000 after acquiring an additional 1,777 shares in the last quarter. 70.32% of the stock is owned by institutional investors and hedge funds.

Vertex Stock Performance

Shares of VERX opened at $13.74 on Friday. The stock has a 50-day moving average of $16.40 and a two-hundred day moving average of $20.40. Vertex, Inc. has a one year low of $11.86 and a one year high of $42.44. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $2.20 billion, a P/E ratio of 343.59, a P/E/G ratio of 1.68 and a beta of 0.63.

Vertex (NASDAQ:VERX - Get Free Report) last released its earnings results on Wednesday, February 11th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.17. Vertex had a net margin of 0.96% and a return on equity of 24.70%. The company had revenue of $194.71 million for the quarter, compared to analyst estimates of $194.33 million. During the same period in the prior year, the firm earned $0.15 EPS. The firm's quarterly revenue was up 9.1% on a year-over-year basis. As a group, research analysts predict that Vertex, Inc. will post 0.38 EPS for the current year.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on VERX shares. Piper Sandler lowered their price target on shares of Vertex from $20.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, February 12th. BMO Capital Markets lowered their price target on shares of Vertex from $22.00 to $16.00 and set a "market perform" rating on the stock in a research report on Thursday, February 12th. DA Davidson set a $13.00 price target on Vertex in a report on Thursday, February 12th. Jefferies Financial Group downgraded Vertex from a "buy" rating to a "hold" rating and set a $16.00 target price for the company. in a research note on Wednesday, February 11th. Finally, UBS Group set a $25.00 price target on shares of Vertex in a report on Thursday, February 12th. Seven 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. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target 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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