Vertex (NASDAQ:VERX) Insider Jeffrey Westphal Purchases 247,740 Shares of Stock

Vertex, Inc. (NASDAQ:VERX) insider Jeffrey Westphal purchased 247,740 shares of the stock in a transaction on Friday, February 13th. The shares were purchased at an average price of $13.08 per share, with a total value of $3,240,439.20. Following the acquisition, the insider owned 247,740 shares in the company, valued at approximately $3,240,439.20. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Jeffrey Westphal also recently made the following trade(s):

• On Tuesday, February 17th, Jeffrey Westphal acquired 150,000 shares of Vertex stock. The shares were purchased at an average price of $12.53 per share, with a total value of $1,879,500.00.

Vertex Trading Down 2.0%

VERX stock traded down $0.25 during midday trading on Wednesday, hitting $12.09. The stock had a trading volume of 4,185,751 shares, compared to its average volume of 2,517,920. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.27. The firm has a market cap of $1.93 billion, a P/E ratio of 302.33, a price-to-earnings-growth ratio of 1.44 and a beta of 0.59. The business has a fifty day moving average price of $18.47 and a two-hundred day moving average price of $21.85. Vertex, Inc. has a 1-year low of $11.96 and a 1-year high of $48.00.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The firm had revenue of $194.71 million during the quarter, compared to analyst estimates of $194.33 million. Vertex had a return on equity of 25.25% and a net margin of 0.96%.The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company posted $0.15 EPS. On average, sell-side analysts predict that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Vertex declared that its Board of Directors has initiated a stock buyback plan on Monday, November 3rd that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Vertex

Institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in Vertex in the second quarter worth $54,000. Global Retirement Partners LLC purchased a new stake in shares of Vertex in the 4th quarter worth about $32,000. Advisors Asset Management Inc. lifted its position in shares of Vertex by 25.7% in the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock worth $68,000 after purchasing an additional 395 shares during the period. Empowered Funds LLC bought a new stake in shares of Vertex during the 4th quarter valued at about $45,000. Finally, Assetmark Inc. increased its position in shares of Vertex by 49.1% during the fourth quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock valued at $83,000 after buying an additional 1,376 shares during the period. 70.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VERX has been the subject of several research analyst reports. Robert W. Baird set a $25.00 price objective on shares of Vertex in a research note on Tuesday, November 4th. UBS Group set a $25.00 price target on shares of Vertex in a research note on Thursday, February 12th. BMO Capital Markets dropped their price objective on shares of Vertex from $22.00 to $16.00 and set a “market perform” rating on the stock in a report on Thursday, February 12th. Morgan Stanley set a $20.00 target price on Vertex in a research note on Thursday, February 12th. Finally, Piper Sandler decreased their target price on Vertex from $20.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, February 12th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $23.07.

About Vertex

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.