Algert Global LLC Buys 242,093 Shares of NextDecade Corporation $NEXT

Key Points

• Algert Global LLC raised its stock position in NextDecade Corporation by 75.9%, acquiring a total of 561,200 shares now valued at $4.37 million.
• Other institutional investors also increased their stakes, with Wolf Hill Capital Management boosting its position by 330.1% during the fourth quarter.
• NextDecade's current stock rating is 'overweight' with price targets raised by several analysts; Morgan Stanley set a target of $15.00, up from $10.00.

Algert Global LLC raised its holdings in NextDecade Corporation (NASDAQ:NEXT - Free Report) by 75.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 561,200 shares of the company's stock after buying an additional 242,093 shares during the quarter. Algert Global LLC owned about 0.22% of NextDecade worth $4,366,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. American Century Companies Inc. grew its position in shares of NextDecade by 440.5% in the 1st quarter. American Century Companies Inc. now owns 223,354 shares of the company's stock worth $1,738,000 after buying an additional 182,032 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of NextDecade by 932.0% in the 1st quarter. Russell Investments Group Ltd. now owns 45,491 shares of the company's stock worth $354,000 after buying an additional 41,083 shares during the last quarter. Nuveen LLC bought a new stake in shares of NextDecade in the 1st quarter worth approximately $8,147,000. Virtu Financial LLC bought a new stake in shares of NextDecade during the first quarter valued at approximately $374,000. Finally, Invesco Ltd. boosted its position in shares of NextDecade by 162.3% during the first quarter. Invesco Ltd. now owns 444,473 shares of the company's stock valued at $3,458,000 after purchasing an additional 275,048 shares in the last quarter. 66.74% of the stock is currently owned by institutional investors.

NextDecade Stock Down 0.7%

NextDecade stock traded down $0.07 during mid-day trading on Friday, hitting $10.24. The company had a trading volume of 2,502,064 shares, compared to its average volume of 2,490,247. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 2.77. The stock's 50 day moving average price is $10.06 and its two-hundred day moving average price is $8.52. NextDecade Corporation has a 12 month low of $4.27 and a 12 month high of $12.12. The company has a market capitalization of $2.68 billion, a PE ratio of -13.13 and a beta of 1.22.

NextDecade (NASDAQ:NEXT - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported ($0.23) EPS for the quarter, hitting the consensus estimate of ($0.23). As a group, sell-side analysts anticipate that NextDecade Corporation will post -0.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Seaport Res Ptn upgraded NextDecade to a "strong-buy" rating in a research report on Friday, July 25th. Cowen upgraded NextDecade from a "hold" rating to a "buy" rating in a research report on Tuesday, June 24th. Morgan Stanley restated an "overweight" rating and set a $15.00 price target (up from $10.00) on shares of NextDecade in a research report on Friday, July 11th. Finally, TD Cowen upgraded NextDecade from a "hold" rating to a "buy" rating and set a $11.00 price target on the stock in a research report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $13.00.

NextDecade Company Profile

NextDecade Corp. is a development company.