Vertex (NASDAQ:VERX) Trading Down 7.3% - Here's What Happened

Key Points

• Vertex (VERX) shares fell 7.3% to about $12.11 on Tuesday, with 1.51 million shares traded (a 33% drop versus average) after a prior close of $13.06.
• Analysts have been mixed, with recent price-target cuts (Citigroup to $15, Piper Sandler to $14) but a consensus rating of "Hold" and an average target price of $23.07.
• Significant insider buying occurred recently: Director Eric C. Andersen bought 40,000 shares at $12.91 and Jeffrey Westphal bought 247,740 shares at $13.08, bringing insiders' purchases to 437,740 shares (~$5.64M) and insider ownership to 43.25%.

Vertex, Inc. (NASDAQ:VERX - Get Free Report)'s share price traded down 7.3% on Tuesday . The stock traded as low as $12.00 and last traded at $12.1080. 1,514,553 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 2,246,478 shares. The stock had previously closed at $13.06.

Analyst Ratings Changes

A number of research firms recently issued reports on VERX. DA Davidson set a $13.00 price target on Vertex in a research note on Thursday, February 12th. Weiss Ratings reiterated a "sell (d)" rating on shares of Vertex in a research note on Wednesday, January 21st. Citigroup decreased their price objective on Vertex from $22.00 to $15.00 and set a "neutral" rating for the company in a report on Thursday, February 12th. Morgan Stanley set a $20.00 target price on shares of Vertex in a research report on Thursday, February 12th. Finally, Piper Sandler cut their target price 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. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Vertex currently has a consensus rating of "Hold" and an average target price of $23.07.

Vertex Stock Performance

The stock has a market cap of $1.92 billion, a PE ratio of 300.25, a price-to-earnings-growth ratio of 1.53 and a beta of 0.64. The stock has a fifty day moving average of $15.47 and a 200-day moving average of $19.74. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.30.

Vertex (NASDAQ:VERX - Get Free Report) last posted 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 return on equity of 24.70% and a net margin of 0.96%.The firm had revenue of $194.71 million during the quarter, compared to the consensus estimate of $194.33 million. During the same period in the prior year, the business earned $0.15 EPS. The firm's revenue was up 9.1% compared to the same quarter last year. On average, equities analysts forecast that Vertex, Inc. will post 0.38 EPS for the current year.

Insider Transactions at Vertex

In other news, Director Eric C. Andersen acquired 40,000 shares of Vertex stock in a transaction that occurred on Friday, February 20th. The stock was purchased 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey Westphal acquired 247,740 shares of the stock in a transaction on Friday, February 13th. The stock was acquired at an average cost of $13.08 per share, for a total transaction of $3,240,439.20. Following the acquisition, the insider directly owned 247,740 shares in the company, valued at $3,240,439.20. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 437,740 shares of company stock worth $5,636,339. Company insiders own 43.25% of the company's stock.

Institutional Trading of Vertex

Hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. boosted its stake in shares of 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 buying an additional 395 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted 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 valued at $3,456,000 after acquiring an additional 564 shares during the period. Verdence Capital Advisors LLC lifted 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 valued at $296,000 after acquiring an additional 600 shares during the period. Victory Capital Management Inc. boosted its position in shares of Vertex by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 8,354 shares of the company's stock worth $207,000 after purchasing an additional 753 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position 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 worth $235,000 after purchasing an additional 965 shares in the last quarter. 70.32% of the stock is owned by institutional investors and hedge funds.

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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