Goldman Sachs Group Inc. Reduces Position in NextDecade Corporation $NEXT

Key Points

• Goldman Sachs Group Inc. reduced its stake in NextDecade Corporation by 30% during Q1, selling 428,791 shares, leaving it with approximately 1,001,770 shares valued at $7,794,000.
• Several institutional investors, such as Catalyst Capital Advisors LLC and MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., have increased their positions significantly in NextDecade, reflecting a growing interest in the company.
• Equity analysts have varying views on NextDecade's stock, with a consensus rating of **Moderate Buy** and an average price target of **$10.50**, after recent upgrades from some analysts.

Goldman Sachs Group Inc. decreased its stake in NextDecade Corporation (NASDAQ:NEXT - Free Report) by 30.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,001,770 shares of the company's stock after selling 428,791 shares during the period. Goldman Sachs Group Inc. owned 0.38% of NextDecade worth $7,794,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC raised its stake 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 acquiring an additional 846,937 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in NextDecade by 17.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,248,028 shares of the company's stock valued at $17,490,000 after acquiring an additional 338,429 shares during the period. Millennium Management LLC raised its stake in NextDecade by 10.1% in the 1st quarter. Millennium Management LLC now owns 1,404,770 shares of the company's stock valued at $10,929,000 after acquiring an additional 128,568 shares during the period. Westwood Holdings Group Inc. raised its stake in NextDecade by 9.7% in the 1st 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. Finally, Northern Trust Corp raised its stake in NextDecade by 5.6% in the 4th quarter. Northern Trust Corp now owns 1,077,687 shares of the company's stock valued at $8,309,000 after acquiring an additional 56,895 shares during the period. Institutional investors own 66.74% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NEXT shares. Seaport Res Ptn upgraded NextDecade to a "strong-buy" rating in a research note on Friday, July 25th. Zacks Research upgraded NextDecade from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. Morgan Stanley reiterated an "equal weight" rating and set a $10.00 price target (down from $15.00) on shares of NextDecade in a research report on Friday. Cowen cut NextDecade from a "buy" rating to a "hold" rating in a research report on Monday. Finally, TD Cowen reiterated a "hold" rating and set a $8.00 price target (down from $11.00) on shares of NextDecade in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $9.00.

Insider Buying and Selling at NextDecade

In related news, CEO Matthew K. Schatzman acquired 281,500 shares of the company's stock in a transaction dated Friday, September 12th. The stock was purchased at an average price of $7.14 per share, with a total value of $2,009,910.00. Following the completion of the purchase, 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.80% of the company's stock.

NextDecade Price Performance

NASDAQ NEXT traded up $0.23 on Tuesday, reaching $6.97. 5,536,304 shares of the company's stock traded hands, compared to its average volume of 4,250,222. NextDecade Corporation has a 12 month low of $4.59 and a 12 month high of $12.12. 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 stock has a 50-day simple moving average of $10.34 and a 200 day simple moving average of $8.72. The stock has a market cap of $1.83 billion, a PE ratio of -8.94 and a beta of 1.35.

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

NextDecade Profile

NextDecade Corp. is a development company.