Vertex Stock: Why One Fund Lifted Its $94.3 Million Position Even as Shares Sank

On November 14, California-based Tensile Capital Management disclosed a buy of 160,559 shares of Vertex (NASDAQ:VERX) in the third quarter. Despite the expanded stake, the market value of the position decreased by approximately $34.4 million, according to an SEC filing.According to a Securities and Exchange Commission (SEC) filing dated November 14, Tensile Capital Management LP increased its stake in Vertex by acquiring 160,559 additional shares during the third quarter. The post-trade holding reached 3.8 million shares valued at $94.3 million as of September 30.Vertex makes up about 11.8% of Tensile’s 13F AUM, making it the fund’s largest position as of September 30.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool