Valinor Management L.P. Has $75.27 Million Stake in NextDecade Corporation $NEXT

Valinor Management L.P. decreased its holdings in NextDecade Corporation (NASDAQ:NEXT) by 27.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,448,135 shares of the company’s stock after selling 3,125,677 shares during the period. NextDecade comprises approximately 100.0% of Valinor Management L.P.’s investment portfolio, making the stock its biggest holding. Valinor Management L.P. owned approximately 3.22% of NextDecade worth $75,273,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NEXT. Nuveen LLC bought a new position in NextDecade during the first quarter worth $8,147,000. Brightline Capital Management LLC acquired a new position in NextDecade in the 1st quarter valued at $7,780,000. Scoggin Management LP bought a new stake in NextDecade during the first quarter worth about $3,890,000. Geode Capital Management LLC lifted its holdings in shares of NextDecade by 12.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,541,633 shares of the company’s stock worth $31,559,000 after acquiring an additional 386,613 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in NextDecade by 17.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,248,028 shares of the company’s stock worth $17,490,000 after purchasing an additional 338,429 shares during the last quarter. 66.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on NEXT shares. Zacks Research raised NextDecade from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. TD Cowen decreased their price target on shares of NextDecade from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, October 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of NextDecade in a research note on Monday. Cowen lowered shares of NextDecade from a “buy” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $10.00 target price (down previously from $15.00) on shares of NextDecade in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $8.50.

NextDecade Stock Down 1.3%

Shares of NASDAQ NEXT opened at $6.15 on Friday. The company has a 50 day simple moving average of $6.15 and a 200 day simple moving average of $8.18. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.64 and a quick ratio of 0.64. NextDecade Corporation has a 1 year low of $5.16 and a 1 year high of $12.12. The firm has a market cap of $1.63 billion, a PE ratio of -8.42 and a beta of 1.90.

NextDecade (NASDAQ:NEXT) last announced its quarterly earnings results on Thursday, October 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.10). On average, research analysts forecast that NextDecade Corporation will post -0.61 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Aerospace Co. Ltd. Hanwha bought 151,058 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was acquired at an average cost of $6.21 per share, with a total value of $938,070.18. Following the transaction, the insider directly owned 23,835,653 shares in the company, valued at approximately $148,019,405.13. This trade represents a 0.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 6,248,142 shares of company stock valued at $38,864,471 in the last three months. Corporate insiders own 1.80% of the company’s stock.

NextDecade Profile

NextDecade Corp. is a development company.