Wolf Hill Capital Management LP Sells 2,854,939 Shares of NextDecade Corporation $NEXT

Key Points

• Wolf Hill sold 2,854,939 shares of NextDecade in Q3, cutting its position by 49.3%; it ended the quarter with 2,937,558 shares (about 1.11% of NextDecade) valued at roughly $19.95 million and the stock represents 1.8% of Wolf Hill’s portfolio.
• Several other institutions boosted stakes (notably Geode, Citigroup, Westwood and Jump Financial), and hedge funds/institutions now own about 66.74% of NextDecade’s stock.
• Analysts have a consensus "Hold" rating with an average price target of $6.67; NextDecade recently missed EPS expectations (‑$0.88 vs. ‑$0.68) and the shares traded at $5.87 (market cap ~$1.56B) in the latest session.

Wolf Hill Capital Management LP decreased its position in shares of NextDecade Corporation (NASDAQ:NEXT - Free Report) by 49.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,937,558 shares of the company's stock after selling 2,854,939 shares during the quarter. NextDecade makes up 1.8% of Wolf Hill Capital Management LP's investment portfolio, making the stock its 18th largest position. Wolf Hill Capital Management LP owned approximately 1.11% of NextDecade worth $19,946,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. lifted its holdings in NextDecade by 6.5% during the second quarter. Westwood Holdings Group Inc. now owns 1,255,874 shares of the company's stock valued at $11,190,000 after purchasing an additional 76,238 shares during the last quarter. Geode Capital Management LLC boosted its position in NextDecade by 12.3% during the second quarter. Geode Capital Management LLC now owns 3,541,633 shares of the company's stock worth $31,559,000 after purchasing an additional 386,613 shares during the period. Citigroup Inc. increased its stake in shares of NextDecade by 1,112.2% in the third quarter. Citigroup Inc. now owns 681,904 shares of the company's stock worth $4,630,000 after purchasing an additional 625,652 shares in the last quarter. Jump Financial LLC increased its stake in shares of NextDecade by 2,212.3% in the second quarter. Jump Financial LLC now owns 492,200 shares of the company's stock worth $4,386,000 after purchasing an additional 470,914 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of NextDecade in the second quarter valued at approximately $1,568,000. Hedge funds and other institutional investors own 66.74% of the company's stock.

Analyst Ratings Changes

NEXT has been the subject of several analyst reports. Capital One Financial started coverage on shares of NextDecade in a report on Friday, February 6th. They issued an "overweight" rating and a $7.00 price objective for the company. Morgan Stanley lowered their target price on shares of NextDecade from $10.00 to $7.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 24th. TD Cowen dropped their target price on NextDecade from $7.00 to $6.00 and set a "hold" rating on the stock in a research report on Thursday, March 5th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of NextDecade in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $6.67.

NextDecade Price Performance

Shares of NextDecade stock traded up $0.05 on Friday, reaching $5.87. The stock had a trading volume of 994,493 shares, compared to its average volume of 3,034,050. The business's 50 day moving average is $5.29 and its two-hundred day moving average is $6.20. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 3.70. NextDecade Corporation has a 1 year low of $4.75 and a 1 year high of $12.12. The company has a market cap of $1.56 billion, a P/E ratio of -5.01 and a beta of 2.02.

NextDecade (NASDAQ:NEXT - Get Free Report) last issued its quarterly earnings data on Friday, February 27th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.20). As a group, research analysts anticipate that NextDecade Corporation will post -0.61 EPS for the current year.

NextDecade Company Profile

NextDecade Corporation is a Houston‐based liquefied natural gas (LNG) and decarbonization company focused on the development, engineering, construction and operation of large‐scale LNG export facilities. The company's core mission is to deliver cleaner energy solutions to global customers while integrating carbon capture and sequestration technologies to reduce greenhouse gas emissions. NextDecade's projects are designed to leverage abundant U.S. natural gas supplies to meet growing worldwide demand for low‐carbon fuel.

NextDecade's flagship project, Rio Grande LNG, is located at the Port of Brownsville in southern Texas.

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