Man Group plc Acquires New Holdings in NextDecade Corporation $NEXT

Key Points

• Man Group acquired 383,988 shares of NextDecade in the second quarter, valued at approximately $2.9 million, giving it a 0.14% stake. Institutional investors collectively own 66.74% of the company.
• Analyst sentiment is mixed, with ratings ranging from Strong Buy to Sell; the consensus rating is Hold with an $8.10 price target. Citigroup set the highest cited target at $11.00.
• NextDecade shares recently traded at $7.54, while the company reported a quarterly loss of $0.25 per share, beating the expected loss of $0.66. Its flagship Rio Grande LNG project focuses on large-scale LNG exports and carbon-capture technologies.

Man Group plc bought a new stake in shares of NextDecade Corporation (NASDAQ:NEXT - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 383,988 shares of the company's stock, valued at approximately $2,895,000. Man Group plc owned 0.14% of NextDecade as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. US Bancorp DE increased its stake in shares of NextDecade by 22,782.4% in the third quarter. US Bancorp DE now owns 3,890 shares of the company's stock valued at $26,000 after purchasing an additional 3,873 shares during the period. Raymond James Financial Inc. acquired a new position in shares of NextDecade during the second quarter worth approximately $36,000. Comerica Bank grew its holdings in NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company's stock worth $32,000 after buying an additional 1,900 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in NextDecade by 302.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company's stock worth $32,000 after buying an additional 3,161 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in NextDecade by 153.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,602 shares of the company's stock valued at $43,000 after acquiring an additional 3,396 shares during the period. Institutional investors own 66.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NEXT shares. Citigroup assumed coverage on NextDecade in a research note on Wednesday, May 13th. They set a "buy" rating and a $11.00 target price on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of NextDecade in a research note on Friday, July 24th. Finally, The Goldman Sachs Group started coverage on NextDecade in a report on Wednesday, July 15th. They set a "neutral" rating and a $8.50 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $8.10.

NextDecade Trading Up 2.6%

NextDecade stock opened at $7.54 on Tuesday. The firm has a 50 day simple moving average of $7.26 and a 200-day simple moving average of $7.25. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a market capitalization of $2.01 billion, a PE ratio of -5.54 and a beta of 1.55. NextDecade Corporation has a 12-month low of $4.75 and a 12-month high of $11.27.

NextDecade (NASDAQ:NEXT - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.25) EPS for the quarter, beating analysts' consensus estimates of ($0.66) by $0.41. As a group, equities research analysts expect that NextDecade Corporation will post -2.94 EPS for the current fiscal year.

About NextDecade

NextDecade Corporation is a Houston‐based liquefied natural gas (LNG) and decarbonization company focused on the development, engineering, construction and operation of large‐scale LNG export facilities. The company's core mission is to deliver cleaner energy solutions to global customers while integrating carbon capture and sequestration technologies to reduce greenhouse gas emissions. NextDecade's projects are designed to leverage abundant U.S. natural gas supplies to meet growing worldwide demand for low‐carbon fuel.

NextDecade's flagship project, Rio Grande LNG, is located at the Port of Brownsville in southern Texas.

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