Northwestern Mutual Wealth Management Co. Boosts Stake in Vertex, Inc. $VERX

Northwestern Mutual Wealth Management Co. raised its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 5,749,066.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 172,475 shares of the company’s stock after buying an additional 172,472 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Vertex were worth $3,444,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VERX. Herald Investment Management Ltd lifted its stake in Vertex by 81.8% during the third quarter. Herald Investment Management Ltd now owns 200,000 shares of the company’s stock worth $4,958,000 after purchasing an additional 90,000 shares during the last quarter. Vanguard Group Inc. lifted its stake in Vertex by 9.0% during the third quarter. Vanguard Group Inc. now owns 8,387,126 shares of the company’s stock worth $207,917,000 after purchasing an additional 689,143 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Vertex by 44.6% during the third quarter. Principal Financial Group Inc. now owns 892,949 shares of the company’s stock worth $22,136,000 after purchasing an additional 275,520 shares during the last quarter. Gagnon Securities LLC lifted its stake in Vertex by 40.3% during the third quarter. Gagnon Securities LLC now owns 378,685 shares of the company’s stock worth $9,388,000 after purchasing an additional 108,839 shares during the last quarter. Finally, Champlain Investment Partners LLC lifted its stake in Vertex by 19.9% during the third quarter. Champlain Investment Partners LLC now owns 2,049,490 shares of the company’s stock worth $50,807,000 after purchasing an additional 340,680 shares during the last quarter. 70.32% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Stock Performance

NASDAQ VERX opened at $13.44 on Monday. Vertex, Inc. has a 1-year low of $10.59 and a 1-year high of $42.44. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The stock has a 50-day moving average of $12.58 and a 200-day moving average of $16.11. The firm has a market cap of $2.17 billion, a PE ratio of -268.80 and a beta of 0.81.

Vertex (NASDAQ:VERX) last released its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share 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 company had revenue of $196.65 million during the quarter, compared to analyst estimates of $194.82 million. During the same quarter in the previous year, the company posted $0.15 EPS. Vertex’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts forecast that Vertex, Inc. will post 0.52 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on VERX. UBS Group set a $25.00 price target on Vertex in a research note on Thursday, February 12th. Needham & Company LLC dropped their price target on Vertex from $30.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $19.00 price target on shares of Vertex in a research note on Friday, May 8th. Jefferies Financial Group set a $14.00 price target on Vertex in a research note on Saturday, May 9th. Finally, Stifel Nicolaus set a $16.00 price target on Vertex in a research note on Wednesday, February 11th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Vertex currently has an average rating of “Hold” and an average price target of $20.93.

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.