Man Investment Partners US LP Acquires New Holdings in NextDecade Corporation $NEXT

Man Investment Partners US LP acquired a new stake in shares of NextDecade Corporation (NASDAQ:NEXT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,274,894 shares of the company’s stock, valued at approximately $48,879,000. NextDecade accounts for about 76.5% of Man Investment Partners US LP’s investment portfolio, making the stock its largest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NEXT. Adage Capital Partners GP L.L.C. lifted its position in NextDecade by 520.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the company’s stock valued at $13,810,000 after purchasing an additional 1,300,000 shares during the period. Wolf Hill Capital Management LP lifted its position in NextDecade by 25.9% during the fourth quarter. Wolf Hill Capital Management LP now owns 3,698,857 shares of the company’s stock valued at $19,493,000 after purchasing an additional 761,299 shares during the period. Goldman Sachs Group Inc. lifted its position in NextDecade by 77.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,676,336 shares of the company’s stock valued at $8,834,000 after purchasing an additional 732,550 shares during the period. Qube Research & Technologies Ltd bought a new position in NextDecade during the third quarter valued at approximately $4,935,000. Finally, Tudor Investment Corp ET AL lifted its position in NextDecade by 262.8% during the third quarter. Tudor Investment Corp ET AL now owns 912,589 shares of the company’s stock valued at $6,196,000 after purchasing an additional 661,028 shares during the period. Institutional investors own 66.74% of the company’s stock.

Insider Buying and Selling

In other NextDecade news, Director Pamela K.M. Beall bought 71,500 shares of NextDecade stock in a transaction on Monday, March 23rd. The stock was acquired at an average cost of $7.07 per share, with a total value of $505,505.00. Following the completion of the acquisition, the director owned 71,500 shares in the company, valued at approximately $505,505. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NEXT shares. TD Cowen lowered their price objective on shares of NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Thursday, March 5th. Morgan Stanley increased their price objective on shares of NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 21st. Weiss Ratings upgraded shares of NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, April 27th. Finally, Citigroup assumed coverage on shares of NextDecade in a report on Wednesday, May 13th. They set a “buy” rating and a $11.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.00.

NextDecade Stock Down 6.0%

Shares of NEXT stock opened at $7.27 on Wednesday. NextDecade Corporation has a 12 month low of $4.75 and a 12 month high of $12.12. The stock has a market cap of $1.93 billion, a P/E ratio of -5.43 and a beta of 1.60. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.96. The company has a 50 day simple moving average of $8.00 and a two-hundred day simple moving average of $6.53.

NextDecade (NASDAQ:NEXT) last announced its earnings results on Thursday, April 30th. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.15. On average, research analysts expect that NextDecade Corporation will post -2.16 earnings per share for the current year.

NextDecade 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.