SIR Capital Management L.P. Sells 1,329,750 Shares of NextDecade Co. (NASDAQ:NEXT)

SIR Capital Management L.P. reduced its stake in NextDecade Co. (NASDAQ:NEXT) by 80.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 332,559 shares of the company’s stock after selling 1,329,750 shares during the quarter. SIR Capital Management L.P.’s holdings in NextDecade were worth $2,641,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers lifted its position in NextDecade by 49.4% during the 2nd quarter. Rhumbline Advisers now owns 157,612 shares of the company’s stock worth $1,251,000 after buying an additional 52,128 shares in the last quarter. nVerses Capital LLC bought a new stake in NextDecade during the 2nd quarter worth about $122,000. Principal Financial Group Inc. lifted its position in NextDecade by 49.0% during the 2nd quarter. Principal Financial Group Inc. now owns 15,619 shares of the company’s stock worth $124,000 after buying an additional 5,133 shares in the last quarter. Bank of New York Mellon Corp lifted its position in NextDecade by 108.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 441,343 shares of the company’s stock worth $3,504,000 after buying an additional 229,646 shares in the last quarter. Finally, Catalyst Capital Advisors LLC raised its holdings in shares of NextDecade by 3.4% in the 2nd quarter. Catalyst Capital Advisors LLC now owns 3,476,616 shares of the company’s stock valued at $27,604,000 after purchasing an additional 113,187 shares during the period. 66.74% of the stock is owned by institutional investors.

Insider Activity at NextDecade

In related news, Director York Capital Management Global sold 35,072,737 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $7.50, for a total value of $263,045,527.50. Following the transaction, the director now owns 4,264,298 shares in the company, valued at approximately $31,982,235. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder Hgc Next Inv Llc purchased 11,690,909 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were acquired at an average price of $7.50 per share, for a total transaction of $87,681,817.50. Following the purchase, the insider now owns 17,536,369 shares in the company, valued at $131,522,767.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director York Capital Management Global sold 35,072,737 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $7.50, for a total transaction of $263,045,527.50. Following the completion of the transaction, the director now owns 4,264,298 shares in the company, valued at approximately $31,982,235. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, TD Cowen upped their target price on shares of NextDecade from $7.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, June 6th.

NextDecade Stock Up 1.1 %

Shares of NEXT stock opened at $4.74 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 2.22. The firm’s 50-day moving average is $6.40 and its 200-day moving average is $6.42. NextDecade Co. has a 52-week low of $4.01 and a 52-week high of $8.52.

NextDecade (NASDAQ:NEXT) last issued its earnings results on Wednesday, August 14th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.28). As a group, equities research analysts forecast that NextDecade Co. will post -1.23 EPS for the current fiscal year.

NextDecade Company Profile

NextDecade Corp. is a development company.