Vertex Energy, Inc. (NASDAQ:VTNR) Shares Sold by Citigroup Inc.

Citigroup Inc. trimmed its stake in Vertex Energy, Inc. (NASDAQ:VTNR – Get Rating) by 4.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 529,870 shares of the industrial products company’s stock after selling 22,322 shares during the quarter. Citigroup Inc.’s holdings in Vertex Energy were worth $3,285,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Legal & General Group Plc acquired a new position in shares of Vertex Energy in the 2nd quarter worth $60,000. Advisor Group Holdings Inc. boosted its position in shares of 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 buying an additional 3,180 shares during the period. Bank of America Corp DE acquired a new stake in shares of Vertex Energy in the first quarter worth $85,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Vertex Energy in the fourth quarter worth $61,000. Finally, CI Investments Inc. boosted its position in shares of Vertex Energy by 100.0% in the third quarter. CI Investments Inc. now owns 10,000 shares of the industrial products company’s stock worth $62,000 after buying an additional 5,000 shares during the period. 63.44% of the stock is currently owned by institutional investors and hedge funds.

Vertex Energy Trading Up 1.2 %

Shares of NASDAQ:VTNR opened at $7.00 on Tuesday. Vertex Energy, Inc. has a fifty-two week low of $5.42 and a fifty-two week high of $18.10. The business has a 50-day moving average of $8.02 and a two-hundred day moving average of $7.70. The company has a quick ratio of 0.77, a current ratio of 1.47 and a debt-to-equity ratio of 1.00.

Analyst Ratings Changes

Several brokerages have recently commented on VTNR. Craig Hallum raised their target price on Vertex Energy from $12.00 to $15.00 in a research report on Tuesday, February 28th. StockNews.com cut Vertex Energy from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Oppenheimer raised Vertex Energy from a “market perform” rating to an “outperform” rating and set a $14.00 price objective for the company in a research report on Wednesday, March 1st. Northland Securities started coverage on Vertex Energy in a research report on Wednesday, February 8th. They set an “outperform” rating and a $15.00 price objective for the company. Finally, TD Cowen started coverage on Vertex Energy in a research report on Friday, March 10th. They set a “market perform” rating and a $8.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Vertex Energy currently has a consensus rating of “Hold” and an average target price of $14.43.

Insiders Place Their Bets

In other Vertex Energy news, CEO Benjamin P. Cowart sold 66,667 shares of the business’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $10.05, for a total value of $670,003.35. Following the completion of the sale, the chief executive officer now owns 5,583,941 shares of the company’s stock, valued at $56,118,607.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Benjamin P. Cowart sold 66,666 shares of Vertex Energy stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $8.10, for a total value of $539,994.60. Following the transaction, the chief executive officer now directly owns 5,650,608 shares in the company, valued at $45,769,924.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Benjamin P. Cowart sold 66,667 shares of Vertex Energy stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $10.05, for a total value of $670,003.35. Following the completion of the transaction, the chief executive officer now owns 5,583,941 shares in the company, valued at $56,118,607.05. The disclosure for this sale can be found here. Insiders sold 291,666 shares of company stock valued at $2,547,995 over the last quarter. Insiders own 16.30% of the company’s stock.

About Vertex Energy

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Vertex Energy, Inc engages in the recycle of industrial waste streams and off-specification commercial chemical products. The firm focuses on the recycle of used motor oil and other petroleum by-products. It operates through the following segments: Black Oil, Refining and Marketing and Recovery. The Black Oil segment collects and purchases used motor oil from third-party generators, established network of local and regional collectors and sells used motor oil to customers for use as a feedstock or replacement fuel for industrial burners.