Man Group plc Takes $359,000 Position in New Fortress Energy Inc. (NASDAQ:NFE)

Man Group plc acquired a new stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 23,754 shares of the company’s stock, valued at approximately $359,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cetera Investment Advisers grew its holdings in shares of New Fortress Energy by 552.2% during the 4th quarter. Cetera Investment Advisers now owns 130,650 shares of the company’s stock valued at $1,975,000 after purchasing an additional 110,617 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of New Fortress Energy by 32.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,470,832 shares of the company’s stock valued at $22,239,000 after purchasing an additional 359,421 shares during the last quarter. Mork Capital Management LLC bought a new position in shares of New Fortress Energy during the 4th quarter valued at $1,046,000. Brandywine Global Investment Management LLC bought a new position in shares of New Fortress Energy during the 4th quarter valued at $19,618,000. Finally, Raymond James Financial Inc. bought a new position in shares of New Fortress Energy during the 4th quarter valued at $787,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.

Insider Activity

In related news, CFO Christopher S. Guinta bought 5,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $8.57 per share, with a total value of $42,850.00. Following the purchase, the chief financial officer now owns 206,653 shares of the company’s stock, valued at approximately $1,771,016.21. This trade represents a 2.48% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 29.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on NFE shares. BTIG Research set a $8.00 target price on shares of New Fortress Energy and gave the company a “buy” rating in a report on Thursday, May 15th. Stifel Nicolaus reduced their target price on shares of New Fortress Energy from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley reduced their target price on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 4th. Citigroup reduced their target price on shares of New Fortress Energy from $34.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a report on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, New Fortress Energy has a consensus rating of “Moderate Buy” and a consensus target price of $11.83.

New Fortress Energy Price Performance

Shares of New Fortress Energy stock opened at $2.78 on Tuesday. The firm has a market cap of $761.09 million, a PE ratio of 3.05 and a beta of 1.45. New Fortress Energy Inc. has a 12-month low of $2.26 and a 12-month high of $26.22. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The company’s fifty day simple moving average is $6.18 and its two-hundred day simple moving average is $10.14.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. The firm had revenue of $679.00 million for the quarter, compared to analyst estimates of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. As a group, equities analysts expect that New Fortress Energy Inc. will post 0.36 EPS for the current year.

About New Fortress Energy

New Fortress Energy Inc operates as an integrated gas-to-power energy infrastructure company that provides energy and development services to end-users worldwide. The company operates in two segments, Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment engages in the natural gas procurement and liquefaction; and shipping, logistics, facilities and conversion, or development of natural gas-fired power generation.