Arizona State Retirement System Buys New Stake in BigBear.ai Holdings, Inc. (NYSE:BBAI)

Arizona State Retirement System purchased a new position in BigBear.ai Holdings, Inc. (NYSE:BBAI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 54,115 shares of the company's stock, valued at approximately $155,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BBAI. City State Bank acquired a new stake in BigBear.ai during the first quarter valued at $29,000. Cornerstone Wealth Management LLC acquired a new stake in BigBear.ai during the first quarter valued at $29,000. Opal Wealth Advisors LLC acquired a new stake in BigBear.ai during the first quarter valued at $34,000. PFG Investments LLC acquired a new stake in BigBear.ai during the first quarter valued at $43,000. Finally, Captrust Financial Advisors acquired a new stake in BigBear.ai during the fourth quarter valued at $45,000. Hedge funds and other institutional investors own 7.55% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright lifted their target price on shares of BigBear.ai from $6.00 to $9.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st.

BigBear.ai Price Performance

Shares of BBAI opened at $7.38 on Wednesday. BigBear.ai Holdings, Inc. has a fifty-two week low of $1.17 and a fifty-two week high of $10.36. The firm's 50 day moving average price is $5.03 and its 200 day moving average price is $4.48. The company has a market cap of $2.15 billion, a P/E ratio of -9.46 and a beta of 3.46. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55.

BigBear.ai (NYSE:BBAI - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). BigBear.ai had a negative net margin of 121.31% and a negative return on equity of 57.83%. The company had revenue of $34.76 million during the quarter, compared to analyst estimates of $36.26 million. During the same quarter in the previous year, the company posted ($0.67) EPS. The company's quarterly revenue was up 4.9% on a year-over-year basis. On average, research analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Sean Raymond Ricker sold 14,063 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $3.05, for a total value of $42,892.15. Following the completion of the sale, the chief accounting officer owned 270,061 shares in the company, valued at approximately $823,686.05. This trade represents a 4.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dorothy D. Hayes sold 26,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $3.60, for a total transaction of $93,600.00. Following the transaction, the director owned 255,239 shares of the company's stock, valued at $918,860.40. This trade represents a 9.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,987 shares of company stock worth $614,608 in the last 90 days. Company insiders own 1.10% of the company's stock.

About BigBear.ai

BigBear.ai Holdings, Inc provides artificial intelligence-powered decision intelligence solutions. It offers national security, supply chain management, and digital identity and biometrics solutions. The company also provides data ingestion, data enrichment, data processing, artificial intelligence, machine learning, predictive analytics, and predictive visualization solutions and services.

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