Jennison Associates LLC Expands Investment in NextDecade Co., Exemplifying Confidence in Future Prospects
Publication Date: July 16, 2023
In a recent disclosure with the Securities and Exchange Commission (SEC), renowned institutional investor Jennison Associates LLC revealed its acquisition of a significant stake in NextDecade Co. (NASDAQ:NEXT). This move underscores Jennison Associates’ confidence in the company’s potential for growth and market performance. The purchased shares, valued at approximately $6,004,000, account for 0.80% of NextDecade’s outstanding stock.
A Stellar Addition to its Portfolio:
Jennison Associates LLC’s foray into NextDecade Co., with its acquisition of 1,208,125 shares during the first quarter of this year, symbolizes an astute investment decision. As an established financial institution, Jennison Associates demonstrates a shrewd understanding of the market and recognizes NextDecade as a promising player within its industry.
Missing Quarterly Earnings Expectations:
During the company’s latest quarterly earnings report released on May 11th, NextDecade reported an EPS (earnings per share) of ($0.23). This figure fell short of analysts’ consensus estimate by $0.11. Should this deviation persist throughout the fiscal year, analysts project that NextDecade Co.’s EPS will be -0.63.
Evaluating Hedge Fund Holdings:
Curious about other hedge funds investing in NEXT? Investors interested in gaining insights into fund holdings and insider trades regarding NextDecade Co can visit HoldingsChannel.com. The website provides access to comprehensive information regarding these aspects which is invaluable to making informed investment decisions.
Conclusion:
Jennison Associates LLC’s recent purchase of over one million shares indicates their unwavering confidence in NextDecade Co.’s future outlook amidst challenges faced during the previous quarter. Despite falling short of earnings expectations, analysts are optimistic about NextDecade’s prospects for the current year. The growing interest by institutional investors, as exemplified by Jennison Associates LLC, reinforces the company’s position as an attractive investment opportunity. As we navigate through 2023, it will be fascinating to observe NextDecade Co.’s strategic moves and their subsequent impact on its market value and growth trajectory.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice or a recommendation towards investing in NextDecade Co. Investors are advised to conduct thorough research and consult with a qualified financial advisor before making any investment decisions.
[bs_slider_forecast ticker=”NEXT”]
The Impact of Hedge Funds on NextDecade Co.: A Perplexing and Bustling Market Landscape
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”NEXT” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]The perplexing and bustling world of hedge funds is frequently in motion, with investors constantly buying and selling shares of various companies. NextDecade Co. is no exception to this tumultuous environment, as several hedge funds have recently made moves with its stock.
One notable player in the market is SL Advisors LLC, whose holdings in NextDecade experienced a significant boost of 72.8% during the first quarter of this year. This increase resulted in SL Advisors now owning an impressive 770,493 shares of NextDecade’s stock, valued at $3,829,000. In order to acquire this substantial amount, SL Advisors purchased an additional 324,552 shares during the specified period.
Raymond James Financial Services Advisors Inc., another prominent hedge fund, also increased its holdings in NextDecade by 20.2% during the first quarter. Their current ownership stands at 20,265 shares of the company’s stock with a value of $101,000. Utilizing their astute investment strategies, they acquired an extra 3,407 shares in the last quarter alone.
Alliancebernstein L.P., yet another key player in the hedge fund world, saw a notable rise in their ownership of NextDecade as well. With a 12.6% increase during the fourth quarter of last year, Alliancebernstein now possesses an impressive sum of 43,700 shares valued at $216,000 after acquiring an additional 4,900 shares.
SIR Capital Management L.P., known for its shrewd investment choices within the hedge fund realm, entered into the picture by purchasing a new stake in NextDecade during the fourth quarter of last year valued at $2,479,000.
Millennium Management LLC exhibited their belief in NextDecade’s potential by increasing their holdings by 14.2%. Consequently, they now own an impressive total of 1,126,824 shares, worth $5,567,000. The acquisition of an additional 140,190 shares during the last quarter showcased their continued enthusiasm for the company’s prospects.
It is important to note that these institutional investors account for around 92.84% of NextDecade’s stock ownership, illustrating the significant impact they have on the company’s market movements.
NextDecade Co., denoted by the ticker symbol NEXT, commenced trading at $6.07 on Friday. Over the past year, the company’s stock has fluctuated between a low of $3.92 and a high of $8.95. Currently, it boasts a fifty-day simple moving average of $6.81, as well as a two-hundred-day simple moving average of $6.08.
With a market capitalization of approximately $913.96 million and a P/E ratio of -8.31, NextDecade certainly stands as an intriguing investment opportunity in today’s bustling market landscape. Additionally, its beta value sits at 1.09, indicating that the stock may be slightly more volatile than average.
For those interested in further exploring the hedge funds’ involvement with NextDecade Co., detailed information can be found on HoldingsChannel.com. This platform provides updated 13F filings and insider trades related to the company, ensuring investors are equipped with accurate and current data to make informed decisions about their portfolios.
In a separate development report released just recently, Stifel Nicolaus announced their price target increase for NextDecade shares from $4.50 to $7.50—a positive reinforcement that strengthens confidence in the company’s potential growth.
NextDecade Corp., identified primarily as a development company, offers investors exciting possibilities in terms of investment opportunities within an ever-changing market landscape filled with numerous perplexing factors affecting their net worths and profits.
