Valinor Management L.P. Has $90.04 Million Position in NextDecade Corporation $NEXT

Key Points

• Valinor Management L.P. reduced its stake in NextDecade Corporation by 15.8%, now holding approximately $90 million worth of shares, which constitutes 100% of its portfolio.
• Analysts have recently upgraded NextDecade's rating, with Morgan Stanley setting a new target price of $15.00, raising previous estimates significantly.
• NextDecade Corp. reported a quarterly earnings per share of ($0.23), aligning with market expectations, while analysts predict a full-year EPS of (-0.61).

Valinor Management L.P. lessened its stake in shares of NextDecade Corporation (NASDAQ:NEXT - Free Report) by 15.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,573,812 shares of the company's stock after selling 2,177,948 shares during the quarter. NextDecade accounts for about 100.0% of Valinor Management L.P.'s investment portfolio, making the stock its largest position. Valinor Management L.P. owned 4.44% of NextDecade worth $90,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Neo Ivy Capital Management bought a new position in shares of NextDecade during the 1st quarter worth approximately $411,000. Teacher Retirement System of Texas bought a new position in shares of NextDecade during the 1st quarter worth approximately $163,000. Westwood Holdings Group Inc. lifted its position in shares of NextDecade by 9.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,179,636 shares of the company's stock worth $9,178,000 after buying an additional 104,104 shares during the period. Catalyst Capital Advisors LLC lifted its position in shares of 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 buying an additional 846,937 shares during the period. Finally, Barclays PLC lifted its position in shares of NextDecade by 38.8% during the 4th quarter. Barclays PLC now owns 533,995 shares of the company's stock worth $4,117,000 after buying an additional 149,159 shares during the period. Institutional investors own 66.74% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Cowen raised NextDecade from a "hold" rating to a "buy" rating in a report on Tuesday, June 24th. TD Cowen raised NextDecade from a "hold" rating to a "buy" rating and set a $11.00 price target for the company in a report on Tuesday, June 24th. Seaport Res Ptn raised NextDecade to a "strong-buy" rating in a report on Friday, July 25th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $15.00 price target (up from $10.00) on shares of NextDecade in a report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $13.00.

NextDecade Trading Up 2.5%

Shares of NEXT stock traded up $0.26 on Wednesday, reaching $10.61. 4,061,653 shares of the stock were exchanged, compared to its average volume of 2,190,000. The stock has a market cap of $2.78 billion, a PE ratio of -13.60 and a beta of 1.22. NextDecade Corporation has a one year low of $4.27 and a one year 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 moving average price of $10.15 and a 200 day moving average price of $8.56.

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

About NextDecade

NextDecade Corp. is a development company.