Goldman Sachs Group Inc. Sells 428,791 Shares of 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. trimmed its position in NextDecade Corporation (NASDAQ:NEXT - Free Report) by 30.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,001,770 shares of the company's stock after selling 428,791 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.38% of NextDecade worth $7,794,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NEXT. Neo Ivy Capital Management acquired a new stake in NextDecade in the first quarter valued at approximately $411,000. Teacher Retirement System of Texas acquired a new position in NextDecade during the 1st quarter worth about $163,000. Westwood Holdings Group Inc. lifted its position in NextDecade by 9.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,179,636 shares of the company's stock valued at $9,178,000 after purchasing an additional 104,104 shares during the period. Catalyst Capital Advisors LLC boosted its stake in NextDecade by 22.6% during the 1st quarter. Catalyst Capital Advisors LLC now owns 4,597,423 shares of the company's stock worth $35,768,000 after acquiring an additional 846,937 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in NextDecade during the 1st quarter worth approximately $1,945,000. 66.74% of the stock is currently owned by institutional investors and hedge funds.

NextDecade Trading Up 2.9%

NextDecade stock traded up $0.19 during trading hours on Friday, reaching $6.64. The company had a trading volume of 2,958,689 shares, compared to its average volume of 2,485,389. 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 company has a 50-day moving average price of $10.23 and a 200 day moving average price of $8.70. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -8.49 and a beta of 1.35. NextDecade Corporation has a 12-month low of $4.59 and a 12-month high of $12.12.

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

Insider Transactions at NextDecade

In other news, CEO Matthew K. Schatzman purchased 281,500 shares of the company's stock in a transaction that occurred on Friday, September 12th. The shares were bought at an average cost of $7.14 per share, for a total transaction of $2,009,910.00. Following the completion of the transaction, the chief executive officer directly owned 5,246,316 shares of the company's stock, valued at $37,458,696.24. This trade represents a 5.67% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Edward Andrew Jr. Scoggins purchased 15,000 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The shares were purchased at an average price of $6.46 per share, for a total transaction of $96,900.00. Following the completion of the transaction, the director directly owned 200,070 shares of the company's stock, valued at $1,292,452.20. This represents a 8.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 653,521 shares of company stock worth $4,598,817. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Zacks Research raised shares of NextDecade from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. TD Cowen reaffirmed a "hold" rating and set a $8.00 target price (down from $11.00) on shares of NextDecade in a research report on Monday. Cowen lowered NextDecade from a "buy" rating to a "hold" rating in a research report on Monday. Morgan Stanley reaffirmed an "equal weight" rating and set a $10.00 target price (down from $15.00) on shares of NextDecade in a research report on Friday, September 12th. Finally, Seaport Res Ptn raised NextDecade to a "strong-buy" rating in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, NextDecade presently has an average rating of "Hold" and an average target price of $9.00.

NextDecade Profile

NextDecade Corp. is a development company.