Newbridge Financial Services Group Inc. purchased a new position in Vertex Energy, Inc. (NASDAQ:VTNR – Get Rating) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,500 shares of the industrial products company's stock, valued at approximately $26,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. XTX Topco Ltd grew its stake in Vertex Energy by 9.2% in the first quarter. XTX Topco Ltd now owns 20,163 shares of the industrial products company's stock worth $200,000 after purchasing an additional 1,701 shares during the period. FNY Investment Advisers LLC purchased a new stake in Vertex Energy in the first quarter worth $25,000. Northern Trust Corp grew its stake in Vertex Energy by 3.8% in the first quarter. Northern Trust Corp now owns 79,299 shares of the industrial products company's stock worth $788,000 after purchasing an additional 2,903 shares during the period. Advisor Group Holdings Inc. grew its stake in Vertex Energy by 122.8% in the first quarter. Advisor Group Holdings Inc. now owns 5,770 shares of the industrial products company's stock worth $142,000 after purchasing an additional 3,180 shares during the period. Finally, Shepherd Kaplan Krochuk LLC grew its stake in Vertex Energy by 17.0% in the first quarter. Shepherd Kaplan Krochuk LLC now owns 31,000 shares of the industrial products company's stock worth $308,000 after purchasing an additional 4,500 shares during the period. 62.15% of the stock is owned by hedge funds and other institutional investors.
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Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. Credit Suisse Group boosted their target price on Vertex Energy to $21.50 in a report on Thursday, June 9th. StockNews.com raised Vertex Energy to a "sell" rating in a report on Thursday. HC Wainwright dropped their target price on Vertex Energy from $25.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, August 10th. Stifel Nicolaus boosted their target price on Vertex Energy from $14.00 to $20.00 in a report on Wednesday, June 8th. Finally, Oppenheimer downgraded Vertex Energy from an "outperform" rating to a "market perform" rating in a report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $18.50.
Vertex Energy Stock Down 5.4 %
Shares of NASDAQ:VTNR opened at $5.74 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.53 and a debt-to-equity ratio of 2.27. Vertex Energy, Inc. has a 1 year low of $3.30 and a 1 year high of $18.10. The stock's fifty day moving average price is $9.15 and its 200-day moving average price is $10.45.
Insider Activity
In other news, CEO Benjamin P. Cowart sold 71,133 shares of the company's stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $10.38, for a total transaction of $738,360.54. Following the transaction, the chief executive officer now directly owns 547,384 shares of the company's stock, valued at $5,681,845.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Benjamin P. Cowart sold 71,132 shares of the company's stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $11.33, for a total transaction of $805,925.56. Following the transaction, the chief executive officer now directly owns 476,252 shares of the company's stock, valued at $5,395,935.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Benjamin P. Cowart sold 71,133 shares of the company's stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $10.38, for a total value of $738,360.54. Following the sale, the chief executive officer now owns 547,384 shares of the company's stock, valued at approximately $5,681,845.92. The disclosure for this sale can be found here. Insiders have sold a total of 213,398 shares of company stock valued at $2,119,041 over the last ninety days. 16.30% of the stock is currently owned by corporate insiders.
Vertex Energy Profile
(Get Rating)
Vertex Energy, Inc, an environmental services company, provides a range of services designed to aggregate, process, and recycle industrial and commercial waste systems in the Gulf Coast and Central Midwest regions of the United States. The company operates through Black Oil, Refining and Marketing, and Recovery segments.
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