Fort Washington Investment Advisors Inc. OH Acquires 49,695 Shares of NextDecade Corporation $NEXT

Key Points

• Fort Washington Investment Advisors Inc. has increased its holdings in NextDecade Corporation by 6.2%, acquiring an additional 49,695 shares, bringing their total ownership to approximately 852,422 shares valued at $7.6 million.
• Insider transactions reveal a significant purchase, with CEO Matthew K. Schatzman acquiring 281,500 shares at an average price of $7.14, indicating strong management confidence in the company.
• Current analyst ratings for NextDecade include a mix of upgrades and downgrades, with an average target price of $9.00, reflecting differing market sentiments about the stock's future performance.

Fort Washington Investment Advisors Inc. OH increased its holdings in shares of NextDecade Corporation (NASDAQ:NEXT - Free Report) by 6.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 852,422 shares of the company's stock after acquiring an additional 49,695 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 0.33% of NextDecade worth $7,595,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new position in NextDecade during the first quarter worth about $411,000. Teacher Retirement System of Texas acquired a new position in NextDecade during the first quarter worth $163,000. Westwood Holdings Group Inc. lifted its holdings in shares of NextDecade by 9.7% during the first quarter. Westwood Holdings Group Inc. now owns 1,179,636 shares of the company's stock valued at $9,178,000 after acquiring an additional 104,104 shares during the period. Catalyst Capital Advisors LLC boosted its stake in shares of 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. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of NextDecade in the 1st quarter worth about $1,945,000. Institutional investors and hedge funds own 66.74% of the company's stock.

Insider Transactions at NextDecade

In other NextDecade news, Director Edward Andrew Jr. Scoggins bought 15,000 shares of the business's stock in a transaction on Thursday, September 18th. The shares were bought at an average cost of $6.46 per share, for a total transaction of $96,900.00. Following the transaction, the director owned 200,070 shares in the company, valued at approximately $1,292,452.20. This trade represents a 8.11% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew K. Schatzman purchased 281,500 shares of the stock in a transaction dated Friday, September 12th. The shares were acquired at an average price of $7.14 per share, with a total value of $2,009,910.00. Following the transaction, the chief executive officer owned 5,246,316 shares in the company, valued at $37,458,696.24. This trade represents a 5.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 1,654,850 shares of company stock worth $11,611,592 in the last ninety days. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on NEXT. Seaport Res Ptn upgraded shares of NextDecade to a "strong-buy" rating in a research report on Friday, July 25th. TD Cowen reissued a "hold" rating and issued a $8.00 target price (down from $11.00) on shares of NextDecade in a report on Monday, September 15th. Zacks Research upgraded NextDecade from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. Cowen downgraded NextDecade from a "buy" rating to a "hold" rating in a research report on Monday, September 15th. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $10.00 price objective (down previously from $15.00) on shares of NextDecade in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, NextDecade currently has an average rating of "Hold" and an average target price of $9.00.

NextDecade Stock Performance

Shares of NextDecade stock opened at $7.04 on Monday. The company has a debt-to-equity ratio of 2.77, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a 50 day simple moving average of $9.69 and a 200 day simple moving average of $8.71. NextDecade Corporation has a fifty-two week low of $4.59 and a fifty-two week high of $12.12. The firm has a market cap of $1.84 billion, a P/E ratio of -9.03 and a beta of 1.35.

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

NextDecade Profile

NextDecade Corp. is a development company.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.