Massachusetts Financial Services Co. MA Grows Stake in Vertex, Inc. $VERX

Massachusetts Financial Services Co. MA increased its position in Vertex, Inc. (NASDAQ:VERX) by 231.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,567,902 shares of the company’s stock after acquiring an additional 2,490,097 shares during the period. Massachusetts Financial Services Co. MA owned about 2.24% of Vertex worth $88,448,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Fifth Third Bancorp grew its stake in shares of Vertex by 31.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock valued at $52,000 after purchasing an additional 347 shares during the period. Advisors Asset Management Inc. grew its position in Vertex by 25.7% during 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 during the period. Blue Trust Inc. grew its position in Vertex by 44.4% during the second quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock valued at $59,000 after buying an additional 512 shares during the period. Teacher Retirement System of Texas increased its holdings in Vertex by 6.5% during the second quarter. Teacher Retirement System of Texas now owns 10,310 shares of the company’s stock valued at $364,000 after buying an additional 630 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its position in Vertex by 8.2% in the second quarter. Verdence Capital Advisors LLC now owns 10,938 shares of the company’s stock worth $386,000 after acquiring an additional 826 shares during the period. Institutional investors own 70.32% of the company’s stock.

Vertex Stock Performance

Vertex stock opened at $19.00 on Wednesday. The company’s 50-day moving average price is $19.79 and its 200-day moving average price is $24.45. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.27. The company has a market cap of $3.03 billion, a PE ratio of -54.28, a price-to-earnings-growth ratio of 2.94 and a beta of 0.60. Vertex, Inc. has a twelve month low of $18.54 and a twelve month high of $60.71.

Vertex (NASDAQ:VERX) last released its earnings results on Monday, November 3rd. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. Vertex had a positive return on equity of 26.84% and a negative net margin of 7.32%.The firm had revenue of $192.11 million for the quarter, compared to the consensus estimate of $191.62 million. During the same quarter in the previous year, the company posted $0.16 EPS. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities research analysts forecast that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Vertex announced that its board has authorized a stock buyback plan on Monday, November 3rd that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to buy up to 4.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VERX. Weiss Ratings reissued a “sell (d)” rating on shares of Vertex in a research report on Wednesday, October 8th. Stifel Nicolaus cut their price target on Vertex from $28.00 to $23.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. DA Davidson reduced their price target on Vertex from $29.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, November 4th. Citizens Jmp decreased their price objective on Vertex from $50.00 to $37.00 and set a “market outperform” rating on the stock in a research note on Tuesday, November 4th. Finally, JMP Securities set a $37.00 price objective on Vertex in a research note on Tuesday, November 4th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.40.

Vertex 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.