Y Intercept Hong Kong Ltd Raises Stock Position in Vertex, Inc. $VERX

Y Intercept Hong Kong Ltd grew its holdings in Vertex, Inc. (NASDAQ:VERX) by 35.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 256,289 shares of the company’s stock after purchasing an additional 67,270 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.16% of Vertex worth $3,047,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Advisors Asset Management Inc. boosted its position in Vertex by 25.7% in the 1st 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 during the period. Victory Capital Management Inc. raised its stake in shares of Vertex by 9.9% in the third quarter. Victory Capital Management Inc. now owns 8,354 shares of the company’s stock valued at $207,000 after acquiring an additional 753 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Vertex by 1.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,056 shares of the company’s stock valued at $2,933,000 after purchasing an additional 1,121 shares during the period. Assetmark Inc. boosted its holdings in Vertex by 49.1% in the fourth quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock valued at $83,000 after purchasing an additional 1,376 shares during the period. Finally, California State Teachers Retirement System grew its stake in Vertex by 2.2% during the 2nd quarter. California State Teachers Retirement System now owns 63,009 shares of the company’s stock worth $2,226,000 after purchasing an additional 1,383 shares in the last quarter. Institutional investors and hedge funds own 70.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Vertex from a “hold” rating to a “buy” rating in a research note on Saturday. BMO Capital Markets increased their price objective on shares of Vertex from $14.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. DA Davidson set a $15.00 price objective on shares of Vertex in a research report on Friday, May 8th. Needham & Company LLC reissued a “buy” rating on shares of Vertex in a report on Monday, June 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $19.00 price target on shares of Vertex in a report on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.47.

Vertex Stock Performance

Shares of VERX traded up $0.53 during midday trading on Tuesday, reaching $13.38. 281,060 shares of the stock were exchanged, compared to its average volume of 1,848,207. Vertex, Inc. has a twelve month low of $10.21 and a twelve month high of $36.75. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -267.20 and a beta of 0.83. The business’s 50-day moving average price is $12.64 and its 200 day moving average price is $14.50.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Vertex had a positive return on equity of 26.04% and a negative net margin of 0.84%.The firm had revenue of $196.65 million for the quarter, compared to the consensus estimate of $194.82 million. During the same quarter last year, the business posted $0.15 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts expect that Vertex, Inc. will post 0.52 EPS for the current fiscal year.

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.