Vertex, Inc. $VERX Stock Holdings Increased by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its Vertex stake by 1,906.8% in the first quarter, purchasing 889,042 additional shares to hold 935,668 shares worth approximately $11.1 million. Hedge funds and other institutional investors own 70.32% of the company.
• Analyst sentiment is mixed: seven analysts rate Vertex a Buy, seven rate it Hold and one rates it Sell. The stock has an average rating of Hold and an average price target of $20.20.
• Vertex reported quarterly EPS of $0.17, beating estimates by $0.01, while revenue rose 11.1% year over year to $196.65 million. Shares opened at $12.91, near their 50-day average of $12.42 and well below the 52-week high of $33.87.

Arrowstreet Capital Limited Partnership lifted its stake in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 1,906.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 935,668 shares of the company's stock after purchasing an additional 889,042 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.58% of Vertex worth $11,125,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of VERX. Wasatch Advisors LP increased its stake in Vertex by 9.2% in the 3rd quarter. Wasatch Advisors LP now owns 2,728,504 shares of the company's stock worth $67,640,000 after purchasing an additional 229,774 shares in the last quarter. Wellington Management Group LLP lifted its stake in Vertex by 76.7% during the third 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. State Street Corp lifted its stake in Vertex by 8.0% during the fourth quarter. State Street Corp now owns 1,849,171 shares of the company's stock valued at $36,928,000 after buying an additional 136,656 shares in the last quarter. Park West Asset Management LLC lifted its stake in Vertex by 46.7% during the fourth quarter. Park West Asset Management LLC now owns 1,833,428 shares of the company's stock valued at $36,614,000 after buying an additional 583,428 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Vertex by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 1,792,864 shares of the company's stock worth $35,810,000 after buying an additional 93,184 shares during the period. 70.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on VERX shares. Piper Sandler boosted their price target on shares of Vertex from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Jefferies Financial Group set a $14.00 price objective on shares of Vertex in a research note on Saturday, May 9th. DA Davidson set a $15.00 target price on Vertex in a report on Friday, May 8th. Weiss Ratings downgraded Vertex from a "sell (d)" rating to a "sell (e+)" rating in a report on Monday, May 11th. Finally, TD Cowen assumed coverage on Vertex in a research report on Monday, June 29th. They set a "buy" rating and a $14.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Vertex presently has an average rating of "Hold" and an average price target of $20.20.

Vertex Trading Up 2.5%

Shares of NASDAQ:VERX opened at $12.91 on Friday. The stock has a market capitalization of $2.09 billion, a PE ratio of -258.20 and a beta of 0.83. Vertex, Inc. has a 1 year low of $10.21 and a 1 year high of $33.87. The firm has a fifty day moving average price of $12.42 and a 200 day moving average price of $13.55. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37.

Vertex (NASDAQ:VERX - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The firm had revenue of $196.65 million for the quarter, compared to the consensus estimate of $194.82 million. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS. Analysts expect that Vertex, Inc. will post 0.52 EPS 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.

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