Westwood Holdings Group Inc. Purchases 104,104 Shares of NextDecade Corporation (NASDAQ:NEXT)

Key Points

• Westwood Holdings Group Inc. increased its stake in NextDecade Corporation by 9.7%, now owning approximately 1.18 million shares worth about $9.18 million.
• PNC Financial Services Group and GAMMA Investing LLC have significantly boosted their holdings in NextDecade, with PNC increasing its position by 137.2% and GAMMA by 2,302.6%.
• Analysts have upgraded NextDecade's stock rating, with Morgan Stanley setting a price target of $15.00, reflecting increased optimism for the company.

Westwood Holdings Group Inc. grew its position in NextDecade Corporation (NASDAQ:NEXT - Free Report) by 9.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,179,636 shares of the company's stock after purchasing an additional 104,104 shares during the period. Westwood Holdings Group Inc. owned approximately 0.45% of NextDecade worth $9,178,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Bardin Hill Management Partners LP raised its holdings in NextDecade by 3.9% during the fourth quarter. Bardin Hill Management Partners LP now owns 8,917,873 shares of the company's stock worth $68,757,000 after acquiring an additional 334,012 shares in the last quarter. Wolf Hill Capital Management LP raised its holdings in NextDecade by 330.1% during the fourth quarter. Wolf Hill Capital Management LP now owns 8,142,024 shares of the company's stock worth $62,775,000 after acquiring an additional 6,248,757 shares in the last quarter. Catalyst Capital Advisors LLC raised its holdings in NextDecade by 22.6% during the first 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 in the last quarter. Geode Capital Management LLC raised its holdings in NextDecade by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,075,331 shares of the company's stock worth $23,717,000 after acquiring an additional 48,401 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in NextDecade by 262.2% during the fourth quarter. Millennium Management LLC now owns 1,276,202 shares of the company's stock worth $9,840,000 after acquiring an additional 923,898 shares in the last quarter. 66.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on NEXT shares. Seaport Res Ptn upgraded NextDecade to a "strong-buy" rating in a report on Friday, July 25th. Cowen upgraded NextDecade from a "hold" rating to a "buy" rating in a report on Tuesday, June 24th. Morgan Stanley reiterated an "overweight" rating and set a $15.00 target price (up previously from $10.00) on shares of NextDecade in a report on Friday, July 11th. Finally, TD Cowen raised NextDecade from a "hold" rating to a "buy" rating and set a $11.00 price target on the stock in a research report on Tuesday, June 24th.

NextDecade Stock Performance

NASDAQ NEXT traded down $0.11 during trading on Friday, reaching $10.34. 2,844,798 shares of the company's stock were exchanged, compared to its average volume of 3,194,603. The business has a 50 day moving average price of $9.70 and a 200-day moving average price of $8.40. The stock has a market capitalization of $2.71 billion, a P/E ratio of -13.26 and a beta of 1.22. The company has a debt-to-equity ratio of 2.77, a current ratio of 0.70 and a quick ratio of 0.85. NextDecade Corporation has a fifty-two week low of $4.27 and a fifty-two week high of $12.12.

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

NextDecade Profile

NextDecade Corp. is a development company.