TimesSquare Capital Management LLC Sells 325,040 Shares of Vertex, Inc. $VERX

TimesSquare Capital Management LLC reduced its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 29.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 766,222 shares of the company’s stock after selling 325,040 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Vertex were worth $15,301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Advisors Asset Management Inc. lifted its stake in shares of Vertex by 25.7% during the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock worth $68,000 after acquiring an additional 395 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Vertex by 0.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 137,913 shares of the company’s stock worth $3,456,000 after acquiring an additional 564 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Vertex by 5.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 11,538 shares of the company’s stock worth $296,000 after acquiring an additional 600 shares during the last quarter. Victory Capital Management Inc. lifted its stake 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 acquiring an additional 753 shares during the last quarter. Finally, AlphaQuest LLC lifted its stake in shares of Vertex by 10.4% during the 3rd quarter. AlphaQuest LLC now owns 10,732 shares of the company’s stock worth $266,000 after acquiring an additional 1,014 shares during the last quarter. 70.32% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Eric C. Andersen purchased 40,000 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were acquired at an average cost of $12.91 per share, for a total transaction of $516,400.00. Following the acquisition, the director owned 150,341 shares of the company’s stock, valued at $1,940,902.31. The trade was a 36.25% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 43.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on VERX shares. Citigroup lifted their target price on Vertex from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. UBS Group set a $25.00 target price on Vertex in a research report on Thursday, February 12th. Wall Street Zen raised Vertex from a “hold” rating to a “buy” rating in a research report on Saturday. Morgan Stanley reaffirmed an “overweight” rating and set a $19.00 target price on shares of Vertex in a research report on Friday, May 8th. Finally, Citizens Jmp decreased their target price on Vertex from $37.00 to $25.00 and set a “market outperform” rating for the company in a research report on Thursday, February 12th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Vertex has an average rating of “Hold” and an average target price of $20.93.

Vertex Trading Down 0.7%

Shares of NASDAQ VERX opened at $13.17 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.37. The business has a fifty day simple moving average of $12.64 and a two-hundred day simple moving average of $16.30. The firm has a market cap of $2.13 billion, a PE ratio of -263.40 and a beta of 0.81. Vertex, Inc. has a twelve month low of $10.59 and a twelve month high of $42.44.

Vertex (NASDAQ:VERX) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating 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 business had revenue of $196.65 million for the quarter, compared to the consensus estimate of $194.82 million. During the same period last year, the business posted $0.15 EPS. The business’s revenue was up 11.1% compared to the same quarter last year. Analysts expect that Vertex, Inc. will post 0.48 earnings per share 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.