Mizuho Markets Americas LLC Sells 121,000 Shares of Vertex, Inc. $VERX

Mizuho Markets Americas LLC decreased its position in Vertex, Inc. (NASDAQ:VERX) by 31.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 257,927 shares of the company’s stock after selling 121,000 shares during the period. Mizuho Markets Americas LLC’s holdings in Vertex were worth $3,067,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of VERX. Royal Bank of Canada lifted its stake in shares of Vertex by 36.3% in the 1st quarter. Royal Bank of Canada now owns 180,978 shares of the company’s stock valued at $6,336,000 after purchasing an additional 48,181 shares during the period. Advisors Asset Management Inc. grew its stake in Vertex by 25.7% during the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock worth $68,000 after purchasing an additional 395 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Vertex by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,935 shares of the company’s stock worth $2,869,000 after purchasing an additional 3,461 shares in the last quarter. Prudential Financial Inc. lifted its stake in Vertex by 92.1% in the second quarter. Prudential Financial Inc. now owns 8,105 shares of the company’s stock valued at $286,000 after buying an additional 3,885 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in Vertex by 10,910.6% in the second quarter. Russell Investments Group Ltd. now owns 13,543 shares of the company’s stock valued at $479,000 after buying an additional 13,420 shares during the period. Institutional investors own 70.32% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on VERX. BMO Capital Markets raised their price objective on shares of Vertex from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. DA Davidson set a $15.00 target price on shares of Vertex in a research report on Friday, May 8th. The Goldman Sachs Group reissued a “buy” rating and set a $21.00 target price on shares of Vertex in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of Vertex from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Finally, Citigroup lifted their price target on shares of Vertex from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Vertex has an average rating of “Hold” and an average price target of $20.20.

Vertex Price Performance

Shares of NASDAQ:VERX opened at $10.89 on Friday. Vertex, Inc. has a twelve month low of $10.21 and a twelve month high of $35.80. The stock’s 50 day moving average is $12.48 and its 200-day moving average is $13.81. 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 firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -217.80 and a beta of 0.83.

Vertex (NASDAQ:VERX) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. The business had revenue of $196.65 million during the quarter, compared to the consensus estimate of $194.82 million. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%. Vertex’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.15 EPS. Sell-side analysts forecast 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.