Vertex, Inc. $VERX Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors reduced its Vertex position by 28.8%, selling 235,818 shares and retaining 582,427 shares worth approximately $6.9 million. Institutional investors and hedge funds collectively own 70.32% of the company.
• Analyst sentiment is mixed: seven analysts rate Vertex a Buy, seven a Hold and one a Sell. The stock has an average rating of “Hold” and a consensus price target of $17.43.
• Vertex reported quarterly EPS of $0.20, beating expectations by $0.01, while revenue rose 10.5% year over year to $203.97 million. Shares opened at $12.14, near the lower end of their 12-month range of $10.21 to $26.63.

Dimensional Fund Advisors LP decreased its position in Vertex, Inc. (NASDAQ:VERX - Free Report) by 28.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 582,427 shares of the company's stock after selling 235,818 shares during the period. Dimensional Fund Advisors LP owned approximately 0.36% of Vertex worth $6,924,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Wasatch Advisors LP acquired a new position in shares of Vertex during the second quarter worth approximately $88,293,000. Legacy Advisors LLC increased its holdings in shares of Vertex by 2,730.1% during the third quarter. Legacy Advisors LLC now owns 1,343,779 shares of the company's stock valued at $33,312,000 after purchasing an additional 1,296,297 shares during the period. Park West Asset Management LLC bought a new position in Vertex in the 3rd quarter valued at about $30,988,000. Wellington Management Group LLP grew its position in Vertex by 76.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,161,501 shares of the company's stock valued at $53,584,000 after buying an additional 937,905 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new position in Vertex during the 4th quarter valued at about $14,072,000. Institutional investors and hedge funds own 70.32% of the company's stock.

Wall Street Analyst Weigh In

VERX has been the subject of several recent analyst reports. TD Cowen initiated coverage on shares of Vertex in a report on Monday, June 29th. They issued a "buy" rating and a $14.00 price objective for the company. Morgan Stanley reissued an "equal weight" rating and set a $15.00 target price (down from $19.00) on shares of Vertex in a report on Tuesday, July 21st. The Goldman Sachs Group restated a "buy" rating and issued a $21.00 target price on shares of Vertex in a research report on Thursday, May 7th. Needham & Company LLC reaffirmed a "buy" rating on shares of Vertex in a research note on Monday, June 8th. Finally, Wall Street Zen upgraded Vertex from a "hold" rating to a "buy" rating in a research report on Saturday. Seven analysts have rated the stock with a Buy rating, seven have given 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 a consensus target price of $17.43.

Vertex Price Performance

Shares of NASDAQ VERX opened at $12.14 on Tuesday. Vertex, Inc. has a twelve month low of $10.21 and a twelve month high of $26.63. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.40. The firm has a 50-day moving average of $12.29 and a two-hundred day moving average of $13.21. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 607.30 and a beta of 0.83.

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

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