Jennison Associates LLC Has $19.81 Million Stock Holdings in Vertex, Inc. $VERX

Jennison Associates LLC boosted its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 21.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 991,820 shares of the company’s stock after buying an additional 172,692 shares during the quarter. Jennison Associates LLC’s holdings in Vertex were worth $19,807,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of VERX. Wasatch Advisors LP acquired a new stake in Vertex during the 2nd quarter worth $88,293,000. Massachusetts Financial Services Co. MA grew its holdings in Vertex by 231.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,567,902 shares of the company’s stock worth $88,448,000 after acquiring an additional 2,490,097 shares during the period. Legacy Advisors LLC grew its holdings in Vertex by 2,730.1% during the 3rd quarter. Legacy Advisors LLC now owns 1,343,779 shares of the company’s stock worth $33,312,000 after acquiring an additional 1,296,297 shares during the period. Park West Asset Management LLC acquired a new stake in Vertex during the 3rd quarter worth $30,988,000. Finally, Wellington Management Group LLP grew its holdings in Vertex by 76.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,161,501 shares of the company’s stock worth $53,584,000 after acquiring an additional 937,905 shares during the period. Institutional investors and hedge funds own 70.32% of the company’s stock.

Insider Transactions at Vertex

In other news, insider Jeffrey Westphal bought 150,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were bought at an average cost of $12.53 per share, with a total value of $1,879,500.00. Following the acquisition, the insider owned 397,740 shares in the company, valued at $4,983,682.20. This trade represents a 60.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric C. Andersen bought 40,000 shares of the company’s stock in a transaction dated Friday, February 20th. The stock was purchased at an average cost of $12.91 per share, for a total transaction of $516,400.00. Following the completion of the acquisition, the director owned 150,341 shares in the company, valued at $1,940,902.31. This trade represents a 36.25% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 437,740 shares of company stock worth $5,636,339. 43.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

VERX has been the subject of a number of analyst reports. Piper Sandler lowered their target price on shares of Vertex from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. DA Davidson set a $13.00 price target on shares of Vertex in a research report on Thursday, February 12th. BMO Capital Markets reduced 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. Citizens Jmp reduced their price target on shares of Vertex from $37.00 to $25.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 12th. Finally, UBS Group set a $25.00 price target on shares of Vertex in a research report on Thursday, February 12th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.71.

Vertex Trading Up 6.6%

VERX opened at $13.19 on Friday. The stock has a market capitalization of $2.11 billion, a P/E ratio of 329.83 and a beta of 0.81. Vertex, Inc. has a 12 month low of $10.59 and a 12 month high of $42.44. The firm’s fifty day simple moving average is $12.80 and its 200 day simple moving average is $17.25. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.30.

Vertex (NASDAQ:VERX) 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. The business had revenue of $194.71 million for the quarter, compared to analysts’ expectations of $194.33 million. Vertex had a net margin of 0.96% and a return on equity of 24.70%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 EPS. As a group, research analysts anticipate that Vertex, Inc. will post 0.47 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.