Sovereign Financial Group Inc. Sells 152,950 Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI)

Sovereign Financial Group Inc. cut its stake in shares of BigBear.ai Holdings, Inc. (NYSE:BBAI - Free Report) by 76.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,865 shares of the company's stock after selling 152,950 shares during the quarter. Sovereign Financial Group Inc.'s holdings in BigBear.ai were worth $134,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Choreo LLC bought a new stake in BigBear.ai during the 4th quarter worth $67,000. Apollon Wealth Management LLC bought a new stake in shares of BigBear.ai during the fourth quarter worth about $65,000. Vontobel Holding Ltd. bought a new stake in shares of BigBear.ai during the fourth quarter worth about $238,000. Rhumbline Advisers grew its holdings in shares of BigBear.ai by 41.6% during the fourth quarter. Rhumbline Advisers now owns 111,825 shares of the company's stock worth $498,000 after purchasing an additional 32,829 shares during the last quarter. Finally, Retirement Income Solutions Inc bought a new stake in shares of BigBear.ai during the fourth quarter worth about $47,000. 7.55% of the stock is owned by institutional investors.

BigBear.ai Stock Up 1.9%

BBAI stock opened at $3.84 on Friday. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 2.08. The stock's 50 day moving average is $3.31 and its 200-day moving average is $3.91. BigBear.ai Holdings, Inc. has a twelve month low of $1.17 and a twelve month high of $10.36. The firm has a market capitalization of $1.12 billion, a PE ratio of -4.22 and a beta of 3.29.

BigBear.ai (NYSE:BBAI - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.04). The business had revenue of $34.76 million during the quarter, compared to analysts' expectations of $36.26 million. BigBear.ai had a negative return on equity of 138.35% and a negative net margin of 109.90%. BigBear.ai's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.67) EPS. Sell-side analysts expect that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BBAI has been the topic of a number of research reports. HC Wainwright reduced their target price on shares of BigBear.ai from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Friday, March 7th. Northland Capmk cut shares of BigBear.ai from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 7th. Cantor Fitzgerald reduced their price target on BigBear.ai from $8.00 to $6.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th. Finally, Northland Securities lowered BigBear.ai from an "outperform" rating to a "market perform" rating and upped their price target for the company from $2.50 to $4.00 in a research report on Friday, March 7th.

Insider Activity at BigBear.ai

In related news, CAO Sean Raymond Ricker sold 10,000 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $3.33, for a total transaction of $33,300.00. Following the sale, the chief accounting officer now owns 293,639 shares of the company's stock, valued at approximately $977,817.87. This represents a 3.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Julie Peffer sold 50,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $4.40, for a total transaction of $220,000.00. Following the sale, the chief financial officer now owns 634,153 shares in the company, valued at approximately $2,790,273.20. This trade represents a 7.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 204,219 shares of company stock worth $752,605. Company insiders own 1.10% of the company's stock.

About BigBear.ai

BigBear.ai Holdings, Inc provides artificial intelligence-powered decision intelligence solutions. It offers national security, supply chain management, and digital identity and biometrics solutions. The company also provides data ingestion, data enrichment, data processing, artificial intelligence, machine learning, predictive analytics, and predictive visualization solutions and services.

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