Bridger Aerospace Group (NASDAQ:BAER) Major Shareholder Holdings L.P. Blackstone II Sells 1,900,000 Shares of Stock

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) major shareholder Holdings L.P. Blackstone II sold 1,900,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $1.70, for a total value of $3,230,000.00. Following the sale, the insider owned 58,205 shares of the company’s stock, valued at $98,948.50. This trade represents a 97.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Bridger Aerospace Group Price Performance

Shares of BAER stock opened at $1.69 on Friday. The stock’s 50-day moving average is $1.91 and its 200 day moving average is $2.14. Bridger Aerospace Group Holdings, Inc. has a 1-year low of $1.47 and a 1-year high of $3.44. The company has a market cap of $94.51 million, a P/E ratio of -2.01 and a beta of 0.35.

Bridger Aerospace Group (NASDAQ:BAER) last announced its earnings results on Thursday, August 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). The firm had revenue of $30.49 million during the quarter, compared to the consensus estimate of $37.04 million. Bridger Aerospace Group had a negative return on equity of 1.21% and a negative net margin of 10.05%. On average, analysts anticipate that Bridger Aerospace Group Holdings, Inc. will post -0.49 EPS for the current year.

Analysts Set New Price Targets

BAER has been the subject of a number of analyst reports. Weiss Ratings cut shares of Bridger Aerospace Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 28th. Lake Street Capital started coverage on shares of Bridger Aerospace Group in a report on Wednesday, May 20th. They issued a “buy” rating and a $4.50 price target on the stock. Canaccord Genuity Group set a $4.50 price target on Bridger Aerospace Group in a research report on Friday, May 8th. Finally, Wall Street Zen lowered Bridger Aerospace Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $4.12.

Hedge Funds Weigh In On Bridger Aerospace Group

Several hedge funds have recently modified their holdings of the stock. First Manhattan CO. LLC. raised its position in shares of Bridger Aerospace Group by 43.5% in the 4th quarter. First Manhattan CO. LLC. now owns 5,513,555 shares of the company’s stock valued at $10,090,000 after purchasing an additional 1,671,375 shares during the last quarter. Marshall Wace LLP grew its position in Bridger Aerospace Group by 530.0% during the 4th quarter. Marshall Wace LLP now owns 965,091 shares of the company’s stock worth $1,766,000 after purchasing an additional 811,899 shares during the last quarter. Vanguard Group Inc. increased its stake in Bridger Aerospace Group by 7.9% during the 3rd quarter. Vanguard Group Inc. now owns 809,615 shares of the company’s stock valued at $1,498,000 after purchasing an additional 59,482 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Bridger Aerospace Group by 50.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 332,042 shares of the company’s stock valued at $608,000 after purchasing an additional 110,788 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Bridger Aerospace Group by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 284,601 shares of the company’s stock worth $521,000 after buying an additional 5,959 shares during the last quarter. Institutional investors and hedge funds own 48.94% of the company’s stock.

About Bridger Aerospace Group

Bridger Aerospace Group, Inc operates as an aerial services company specializing in wildfire management and aviation support. The company’s core business activities include aerial wildfire suppression, providing rapid-response water and fire-retardant drops from fixed-wing air tankers. In addition to firefighting, Bridger Aerospace offers aviation services such as cloud seeding for weather modification, aerial inspection and mapping, environmental monitoring, and logistics support for remote sites.

Founded in 2014 and headquartered in Heber City, Utah, Bridger Aerospace Group deploys a fleet of both fixed-wing and rotary-wing aircraft under contract to federal, state and local government agencies as well as commercial customers.