Bank of New York Mellon Corp Purchases 56,558 Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI)

Key Points

• Bank of New York Mellon Corp increased its stake in BigBear.ai Holdings, Inc. by 24.9%, acquiring an additional 56,558 shares to own 283,718 shares worth approximately $811,000.
• Analysts at HC Wainwright raised the price target for BigBear.ai shares from $6.00 to $9.00 and assigned a "buy" rating.
• BigBear.ai reported a revenue of $34.76 million for the last quarter, missing expectations of $36.26 million while also experiencing a 4.9% year-over-year revenue increase.

Bank of New York Mellon Corp boosted its holdings in BigBear.ai Holdings, Inc. (NYSE:BBAI - Free Report) by 24.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 283,718 shares of the company's stock after acquiring an additional 56,558 shares during the quarter. Bank of New York Mellon Corp owned 0.10% of BigBear.ai worth $811,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its stake in shares of BigBear.ai by 198.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 93,220 shares of the company's stock valued at $415,000 after buying an additional 61,998 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of BigBear.ai by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 5,790,608 shares of the company's stock worth $25,768,000 after purchasing an additional 23,994 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of BigBear.ai by 12.3% in the fourth quarter. JPMorgan Chase & Co. now owns 51,166 shares of the company's stock worth $228,000 after purchasing an additional 5,591 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of BigBear.ai by 21.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,966 shares of the company's stock worth $178,000 after purchasing an additional 7,177 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of BigBear.ai by 5.1% in the fourth quarter. Wells Fargo & Company MN now owns 78,458 shares of the company's stock worth $349,000 after purchasing an additional 3,797 shares during the last quarter. 7.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other BigBear.ai news, CAO Sean Raymond Ricker sold 14,063 shares of BigBear.ai stock in a transaction that occurred 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 of the company's stock, valued at approximately $823,686.05. The trade was a 4.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Julie Peffer sold 50,000 shares of BigBear.ai stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $4.40, for a total transaction of $220,000.00. Following the completion of the sale, the chief financial officer directly owned 634,153 shares of the company's stock, valued at approximately $2,790,273.20. This trade represents a 7.31% decrease in their position. 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 three months. Insiders own 1.10% of the company's stock.

BigBear.ai Stock Up 0.9%

Shares of BBAI stock traded up $0.06 during trading hours on Friday, hitting $6.41. 72,718,128 shares of the company's stock traded hands, compared to its average volume of 108,800,400. The stock's fifty day simple moving average is $5.72 and its two-hundred day simple moving average is $4.72. BigBear.ai Holdings, Inc. has a 12-month low of $1.16 and a 12-month high of $10.36. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of -8.22 and a beta of 3.44. 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 released 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 business had revenue of $34.76 million for the quarter, compared to analysts' expectations of $36.26 million. During the same quarter in the previous year, the business posted ($0.67) earnings per share. BigBear.ai's revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts expect that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current year.

Wall Street Analysts Forecast Growth

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

BigBear.ai Profile

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.