Bridger Aerospace Group (NASDAQ:BAER) Major Shareholder Holdings L.P. Blackstone Sells 2,778,124 Shares of Stock

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) major shareholder Holdings L.P. Blackstone sold 2,778,124 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $1.04, for a total transaction of $2,889,248.96. Following the transaction, the insider directly owned 37,272 shares of the company’s stock, valued at $38,762.88. This represents a 98.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Bridger Aerospace Group Stock Up 4.2%

NASDAQ BAER opened at $1.25 on Friday. The firm’s 50 day moving average is $1.82 and its 200-day moving average is $2.09. The company has a market capitalization of $69.90 million, a PE ratio of -1.47 and a beta of 0.35. Bridger Aerospace Group Holdings, Inc. has a 12-month low of $1.12 and a 12-month high of $3.44.

Bridger Aerospace Group (NASDAQ:BAER) last released its earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). Bridger Aerospace Group had a negative net margin of 10.77% and a negative return on equity of 1.21%. The business had revenue of $30.49 million during the quarter, compared to the consensus estimate of $37.04 million. As a group, sell-side analysts expect that Bridger Aerospace Group Holdings, Inc. will post -0.58 EPS for the current year.

Hedge Funds Weigh In On Bridger Aerospace Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BAER. HB Wealth Management LLC acquired a new position in shares of Bridger Aerospace Group in the first quarter valued at $26,000. XTX Topco Ltd acquired a new stake in shares of Bridger Aerospace Group during the 2nd quarter worth about $26,000. Vise Technologies Inc. acquired a new stake in shares of Bridger Aerospace Group during the 2nd quarter worth about $28,000. Janney Montgomery Scott LLC bought a new stake in shares of Bridger Aerospace Group during the 1st quarter worth about $30,000. Finally, Stifel Financial Corp boosted its holdings in shares of Bridger Aerospace Group by 23.6% during the 4th quarter. Stifel Financial Corp now owns 21,860 shares of the company’s stock worth $40,000 after buying an additional 4,180 shares during the period. 48.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

About Bridger Aerospace Group

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.