Brightline Capital Management LLC Purchases Shares of 1,000,000 NextDecade Corporation $NEXT

Key Points

• Brightline Capital Management LLC invested approximately $7.78 million in NextDecade Corporation, acquiring 1,000,000 shares, which constitutes about 6.7% of its portfolio.
• Multiple other institutional investors have increased their stakes in NextDecade, with some like American Century Companies raising their holdings by 440.5% during the same quarter.
• NextDecade recently reported earnings of ($0.23) per share, aligning with analyst estimates, while several research firms have upgraded their ratings and target prices for the stock.

Brightline Capital Management LLC purchased a new position in shares of NextDecade Corporation (NASDAQ:NEXT - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,000,000 shares of the company's stock, valued at approximately $7,780,000. NextDecade accounts for 6.7% of Brightline Capital Management LLC's holdings, making the stock its 7th biggest position. Brightline Capital Management LLC owned about 0.38% of NextDecade at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in NextDecade in the first quarter worth $8,147,000. Millennium Management LLC grew its holdings in NextDecade by 262.2% during the 4th quarter. Millennium Management LLC now owns 1,276,202 shares of the company's stock valued at $9,840,000 after buying an additional 923,898 shares in the last quarter. Riposte Capital LLC purchased a new stake in NextDecade in the 1st quarter worth approximately $6,613,000. Catalyst Capital Advisors LLC boosted its holdings in NextDecade by 22.6% in the 1st quarter. Catalyst Capital Advisors LLC now owns 4,597,423 shares of the company's stock valued at $35,768,000 after purchasing an additional 846,937 shares during the period. Finally, Moore Capital Management LP purchased a new position in shares of NextDecade during the 4th quarter valued at $2,815,000. 66.74% of the stock is owned by institutional investors.

NextDecade Trading Up 2.5%

Shares of NEXT stock traded up $0.26 on Wednesday, hitting $10.61. 4,061,632 shares of the company's stock traded hands, compared to its average volume of 2,189,855. The company has a debt-to-equity ratio of 2.77, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of -13.60 and a beta of 1.22. The company's fifty day simple moving average is $10.15 and its 200 day simple moving average is $8.56. NextDecade Corporation has a one year low of $4.27 and a one year high of $12.12.

NextDecade (NASDAQ:NEXT - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.23). Equities analysts forecast that NextDecade Corporation will post -0.61 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on NEXT. Seaport Res Ptn upgraded NextDecade to a "strong-buy" rating in a research report on Friday, July 25th. Cowen upgraded shares of NextDecade from a "hold" rating to a "buy" rating in a research report on Tuesday, June 24th. TD Cowen raised shares of NextDecade from a "hold" rating to a "buy" rating and set a $11.00 price target for the company in a research note on Tuesday, June 24th. Finally, Morgan Stanley restated an "overweight" rating and set a $15.00 price objective (up previously from $10.00) on shares of NextDecade in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $13.00.

NextDecade Company Profile

NextDecade Corp. is a development company.