Sovereign Financial Group Inc. Trims Stake in BigBear.ai Holdings, Inc. (NYSE:BBAI)

Sovereign Financial Group Inc. lowered its stake in shares of BigBear.ai Holdings, Inc. (NYSE:BBAI) by 76.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,865 shares of the company’s stock after selling 152,950 shares during the quarter. Sovereign Financial Group Inc.’s holdings in BigBear.ai were worth $134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cape Investment Advisory Inc. purchased a new stake in shares of BigBear.ai in the 4th quarter worth about $40,000. Captrust Financial Advisors purchased a new stake in BigBear.ai in the fourth quarter worth about $45,000. Retirement Income Solutions Inc purchased a new stake in BigBear.ai in the fourth quarter worth about $47,000. Jones Financial Companies Lllp grew its holdings in BigBear.ai by 4,202.3% in the fourth quarter. Jones Financial Companies Lllp now owns 12,907 shares of the company’s stock worth $57,000 after purchasing an additional 12,607 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in BigBear.ai in the fourth quarter worth about $57,000. Hedge funds and other institutional investors own 7.55% of the company’s stock.

BigBear.ai Price Performance

NYSE BBAI opened at $3.84 on Friday. The company has a market capitalization of $1.12 billion, a PE ratio of -4.22 and a beta of 3.29. The company has a debt-to-equity ratio of 2.08, a quick ratio of 2.06 and a current ratio of 2.06. The business’s fifty day moving average is $3.31 and its 200 day moving average is $3.91. BigBear.ai Holdings, Inc. has a fifty-two week low of $1.17 and a fifty-two week high of $10.36.

BigBear.ai (NYSE:BBAI) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.04). BigBear.ai had a negative net margin of 109.90% and a negative return on equity of 138.35%. The firm had revenue of $34.76 million for the quarter, compared to analysts’ expectations of $36.26 million. During the same period in the prior year, the firm earned ($0.67) EPS. BigBear.ai’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts predict that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Sean Raymond Ricker sold 14,063 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $3.05, for a total transaction of $42,892.15. Following the sale, the chief accounting officer now directly owns 270,061 shares in the company, valued at approximately $823,686.05. This represents a 4.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dorothy D. Hayes sold 26,000 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $3.60, for a total value of $93,600.00. Following the sale, the director now owns 255,239 shares in the company, valued at approximately $918,860.40. This trade represents a 9.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 204,219 shares of company stock worth $752,605 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Cantor Fitzgerald cut their price target on BigBear.ai from $8.00 to $6.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. HC Wainwright cut their target price on BigBear.ai from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Northland Capmk cut BigBear.ai from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Northland Securities downgraded shares of BigBear.ai from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $2.50 to $4.00 in a research report on Friday, March 7th.

BigBear.ai Profile

BigBear.ai Holdings, Inc provides artificial intelligence-powered decision intelligence solutions. It offers national security, supply chain management, and digital identity and biometrics solutions. The company also provides data ingestion, data enrichment, data processing, artificial intelligence, machine learning, predictive analytics, and predictive visualization solutions and services.