Brightline Capital Management LLC Invests $7.78 Million in NextDecade Corporation $NEXT

Brightline Capital Management LLC purchased a new position in shares of NextDecade Corporation (NASDAQ:NEXT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,000,000 shares of the company’s stock, valued at approximately $7,780,000. NextDecade makes up approximately 6.7% of Brightline Capital Management LLC’s portfolio, making the stock its 7th biggest position. Brightline Capital Management LLC owned 0.38% of NextDecade at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Lasry Marc boosted its stake in shares of NextDecade by 3.4% during the 1st quarter. Lasry Marc now owns 254,270 shares of the company’s stock worth $1,978,000 after acquiring an additional 8,259 shares in the last quarter. Algert Global LLC lifted its stake in NextDecade by 75.9% in the 1st quarter. Algert Global LLC now owns 561,200 shares of the company’s stock valued at $4,366,000 after buying an additional 242,093 shares in the last quarter. American Century Companies Inc. lifted its stake in NextDecade by 440.5% in the 1st quarter. American Century Companies Inc. now owns 223,354 shares of the company’s stock valued at $1,738,000 after buying an additional 182,032 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in NextDecade by 932.0% in the 1st quarter. Russell Investments Group Ltd. now owns 45,491 shares of the company’s stock valued at $354,000 after buying an additional 41,083 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in NextDecade in the 1st quarter valued at approximately $8,147,000. Hedge funds and other institutional investors own 66.74% of the company’s stock.

NextDecade Trading Down 0.7%

Shares of NEXT opened at $10.24 on Friday. The stock has a fifty day moving average of $10.06 and a two-hundred day moving average of $8.52. The company has a debt-to-equity ratio of 2.77, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $2.68 billion, a PE ratio of -13.13 and a beta of 1.22. NextDecade Corporation has a fifty-two week low of $4.27 and a fifty-two week high of $12.12.

NextDecade (NASDAQ:NEXT) last issued its quarterly earnings results on Thursday, July 31st. The company reported ($0.23) earnings per share for the quarter, meeting the consensus estimate of ($0.23). As a group, analysts forecast that NextDecade Corporation will post -0.61 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on NEXT. TD Cowen raised NextDecade from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Tuesday, June 24th. Seaport Res Ptn raised NextDecade to a “strong-buy” rating in a research note on Friday, July 25th. Cowen raised NextDecade from a “hold” rating to a “buy” rating in a research note on Tuesday, June 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $15.00 target price (up previously from $10.00) on shares of NextDecade in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $13.00.

NextDecade Company Profile

NextDecade Corp. is a development company.