Insider Selling: Bridger Aerospace Group (NASDAQ:BAER) Major Shareholder Sells $2,889,248.96 in Stock

Key Points

• Blackstone sold 2.78 million Bridger Aerospace shares for approximately $2.89 million at an average price of $1.04, reducing its position by 98.68% to 37,272 shares.
• Bridger Aerospace’s latest quarterly results missed expectations, with a loss of $0.13 per share versus an expected loss of $0.03 and revenue of $30.49 million versus estimates of $37.04 million.
• The stock recently traded at $1.25, while analysts maintain a consensus “Hold” rating with an average price target of $3.67; institutional investors own 48.94% of the company.

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER - Get Free Report) major shareholder Holdings L.P. Blackstone sold 2,778,124 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $1.04, for a total value of $2,889,248.96. Following the completion of the transaction, the insider directly owned 37,272 shares in the company, valued at approximately $38,762.88. This trade represents a 98.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Bridger Aerospace Group Trading Up 4.2%

Shares of NASDAQ:BAER traded up $0.05 during midday trading on Thursday, hitting $1.25. The company had a trading volume of 1,071,852 shares, compared to its average volume of 812,581. Bridger Aerospace Group Holdings, Inc. has a 12 month low of $1.12 and a 12 month high of $3.44. The stock has a market cap of $69.90 million, a price-to-earnings ratio of -1.47 and a beta of 0.35. The firm has a fifty day simple moving average of $1.83 and a 200 day simple moving average of $2.10.

Bridger Aerospace Group (NASDAQ:BAER - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.10). The company had revenue of $30.49 million during the quarter, compared to the consensus estimate of $37.04 million. Bridger Aerospace Group had a negative net margin of 10.77% and a negative return on equity of 1.21%. Equities analysts forecast that Bridger Aerospace Group Holdings, Inc. will post -0.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Lake Street Capital reissued a "buy" rating and issued a $4.00 price target on shares of Bridger Aerospace Group in a report on Friday, August 7th. Weiss Ratings lowered Bridger Aerospace Group from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, July 28th. Wall Street Zen cut Bridger Aerospace Group from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 16th. Canaccord Genuity Group lowered their price target on Bridger Aerospace Group from $4.50 to $4.00 and set a "buy" rating for the company in a report on Monday. Finally, Stifel Nicolaus set a $3.00 price target on Bridger Aerospace Group in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $3.67.

Institutional Trading of Bridger Aerospace Group

A number of institutional investors have recently modified their holdings of the company. First Manhattan CO. LLC. lifted its stake in Bridger Aerospace Group by 43.5% in the 4th quarter. First Manhattan CO. LLC. now owns 5,513,555 shares of the company's stock valued at $10,090,000 after acquiring an additional 1,671,375 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Bridger Aerospace Group by 530.0% during the 4th quarter. Marshall Wace LLP now owns 965,091 shares of the company's stock worth $1,766,000 after acquiring an additional 811,899 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Bridger Aerospace Group by 7.9% in the third quarter. Vanguard Group Inc. now owns 809,615 shares of the company's stock valued at $1,498,000 after purchasing an additional 59,482 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Bridger Aerospace Group by 50.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 332,042 shares of the company's stock valued at $608,000 after purchasing an additional 110,788 shares during the last quarter. Finally, BlackRock Inc. bought a new stake in shares of Bridger Aerospace Group in the second quarter worth $560,000. 48.94% of the stock is currently owned by institutional investors.

Bridger Aerospace Group Company Profile

Bridger Aerospace Group, Inc operates as an aerial services company specializing in wildfire management and aviation support. The company's core business activities include aerial wildfire suppression, providing rapid-response water and fire-retardant drops from fixed-wing air tankers. In addition to firefighting, Bridger Aerospace offers aviation services such as cloud seeding for weather modification, aerial inspection and mapping, environmental monitoring, and logistics support for remote sites.

Founded in 2014 and headquartered in Heber City, Utah, Bridger Aerospace Group deploys a fleet of both fixed-wing and rotary-wing aircraft under contract to federal, state and local government agencies as well as commercial customers.

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