New Fortress Energy LLC $NFE Shares Sold by Philadelphia Financial Management of San Francisco LLC

Key Points

• Philadelphia Financial Management of San Francisco LLC significantly reduced its stake in New Fortress Energy LLC by 93.6%, selling 1,386,137 shares and leaving it with only 95,277 shares valued at $792,000.
• Other institutional investors, including Vanguard Group Inc. and American Assets Investment Management LLC, increased their holdings in New Fortress Energy, with Vanguard raising its stake by 22.6% during the same period.
• New Fortress Energy has a market cap of $671.79 million and is currently trading around $2.45, with analysts giving it an average rating of "Hold" and a consensus price target of $7.88.

Philadelphia Financial Management of San Francisco LLC lowered its holdings in shares of New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 93.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,277 shares of the company's stock after selling 1,386,137 shares during the quarter. Philadelphia Financial Management of San Francisco LLC's holdings in New Fortress Energy were worth $792,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. US Bancorp DE grew its position in shares of New Fortress Energy by 81.7% during the first quarter. US Bancorp DE now owns 8,534 shares of the company's stock worth $71,000 after purchasing an additional 3,838 shares in the last quarter. CWM LLC boosted its holdings in shares of New Fortress Energy by 46.9% in the 1st quarter. CWM LLC now owns 9,065 shares of the company's stock worth $75,000 after purchasing an additional 2,895 shares during the period. Hardin Capital Partners LLC purchased a new position in shares of New Fortress Energy in the 1st quarter worth approximately $83,000. Chicago Partners Investment Group LLC bought a new stake in shares of New Fortress Energy during the 1st quarter worth approximately $84,000. Finally, Forum Financial Management LP bought a new stake in shares of New Fortress Energy during the 1st quarter worth approximately $87,000. Hedge funds and other institutional investors own 58.61% of the company's stock.

New Fortress Energy Price Performance

Shares of NASDAQ:NFE traded up $0.05 during midday trading on Thursday, hitting $1.37. The company had a trading volume of 4,936,725 shares, compared to its average volume of 9,349,622. New Fortress Energy LLC has a twelve month low of $1.26 and a twelve month high of $16.66. The company has a debt-to-equity ratio of 5.77, a current ratio of 0.67 and a quick ratio of 0.95. The stock has a market cap of $374.28 million, a price-to-earnings ratio of -0.36 and a beta of 0.99. The business's 50-day simple moving average is $3.03 and its 200-day simple moving average is $4.89.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last posted its quarterly earnings results on Friday, September 5th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.55). New Fortress Energy had a negative net margin of 48.94% and a negative return on equity of 22.72%. The company had revenue of $432.29 million during the quarter, compared to analyst estimates of $480.47 million. During the same period in the prior year, the business posted ($0.41) EPS. New Fortress Energy's revenue for the quarter was down 29.5% compared to the same quarter last year. On average, research analysts predict that New Fortress Energy LLC will post 0.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NFE shares. Compass Point started coverage on New Fortress Energy in a research note on Tuesday, July 1st. They set a "buy" rating and a $8.50 price target for the company. Morgan Stanley set a $4.00 price target on New Fortress Energy and gave the stock an "equal weight" rating in a research note on Tuesday, May 27th. BTIG Research lowered New Fortress Energy from a "buy" rating to a "neutral" rating in a research report on Thursday, June 26th. Zacks Research raised New Fortress Energy to a "hold" rating in a research report on Monday, August 11th. Finally, Capital One Financial reaffirmed an "underweight" rating on shares of New Fortress Energy in a research report on Monday. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $7.88.

New Fortress Energy Profile

New Fortress Energy Inc operates as an integrated gas-to-power energy infrastructure company that provides energy and development services to end-users worldwide. The company operates in two segments, Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment engages in the natural gas procurement and liquefaction; and shipping, logistics, facilities and conversion, or development of natural gas-fired power generation.