Charles Schwab Investment Management Inc. Trims Holdings in NextDecade Corporation $NEXT

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in NextDecade Corporation by 2.5%, owning 1,073,930 shares valued at approximately $8.35 million after the sale.
• Several institutional investors have recently increased their positions in NextDecade, notably Millennium Management LLC with a 262.2% increase, bringing their total holdings to 1,276,202 shares.
• Research analysts have a generally positive outlook on NextDecade, with an average rating of "Buy" and a consensus price target of $13.00 per share.

Charles Schwab Investment Management Inc. trimmed its position in NextDecade Corporation (NASDAQ:NEXT - Free Report) by 2.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,073,930 shares of the company's stock after selling 27,845 shares during the period. Charles Schwab Investment Management Inc. owned about 0.41% of NextDecade worth $8,355,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEXT. Millennium Management LLC lifted its holdings in NextDecade by 262.2% in the 4th quarter. Millennium Management LLC now owns 1,276,202 shares of the company's stock valued at $9,840,000 after purchasing an additional 923,898 shares in the last quarter. Riposte Capital LLC purchased a new position in NextDecade in the 1st quarter valued at about $6,613,000. Catalyst Capital Advisors LLC lifted 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 in the last quarter. Moore Capital Management LP purchased a new position in shares of NextDecade during the 4th quarter worth about $2,815,000. Finally, Westwood Holdings Group Inc. lifted its holdings in shares of NextDecade by 47.3% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,075,532 shares of the company's stock worth $8,292,000 after acquiring an additional 345,489 shares during the period. 66.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

NextDecade Stock Up 1.9%

NEXT opened at $10.43 on Tuesday. The firm has a 50 day moving average price of $10.11 and a 200 day moving average price of $8.54. The company has a market cap of $2.73 billion, a PE ratio of -13.37 and a beta of 1.22. NextDecade Corporation has a 1 year low of $4.27 and a 1 year high of $12.12. The company has a debt-to-equity ratio of 2.77, a quick ratio of 0.70 and a current ratio of 0.70.

NextDecade (NASDAQ:NEXT - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported ($0.23) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.23). Sell-side analysts expect that NextDecade Corporation will post -0.61 earnings per share for the current year.

NextDecade Profile

NextDecade Corp. is a development company.

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