Holdings L.P. Blackstone Sells 2,778,124 Shares of Bridger Aerospace Group (NASDAQ:BAER) Stock

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) major shareholder Holdings L.P. Blackstone sold 2,778,124 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $1.04, for a total value of $2,889,248.96. Following the completion of the transaction, the insider owned 37,272 shares in the company, valued at $38,762.88. The trade was a 98.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Bridger Aerospace Group Price Performance

BAER stock opened at $1.25 on Friday. The firm has a market cap of $69.90 million, a PE ratio of -1.47 and a beta of 0.35. The business has a 50 day moving average of $1.80 and a 200-day moving average of $2.08. Bridger Aerospace Group Holdings, Inc. has a 12-month low of $1.12 and a 12-month high of $3.44.

Bridger Aerospace Group (NASDAQ:BAER) last issued its quarterly 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). Bridger Aerospace Group had a negative net margin of 10.77% and a negative return on equity of 1.21%. The business had revenue of $30.49 million for the quarter, compared to analysts’ expectations of $37.04 million. On average, research analysts expect that Bridger Aerospace Group Holdings, Inc. will post -0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BAER. Lake Street Capital reiterated a “buy” rating and set a $4.00 target price on shares of Bridger Aerospace Group in a research note on Friday, August 7th. Weiss Ratings upgraded shares of Bridger Aerospace Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Stifel Nicolaus set a $3.00 price objective on shares of Bridger Aerospace Group in a research report on Monday. Canaccord Genuity Group dropped their target price on shares of Bridger Aerospace Group from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Finally, Wall Street Zen raised shares of Bridger Aerospace Group from a “strong sell” rating to a “hold” rating in a research report on Saturday. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $3.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BAER. Dynamic Technology Lab Private Ltd purchased a new position in Bridger Aerospace Group in the 1st quarter valued at approximately $41,000. XTX Topco Ltd purchased a new stake in shares of Bridger Aerospace Group during the second quarter worth $26,000. Jane Street Group LLC bought a new position in shares of Bridger Aerospace Group in the second quarter worth $73,000. Bridgeway Capital Management LLC boosted its holdings in shares of Bridger Aerospace Group by 555.6% in the second quarter. Bridgeway Capital Management LLC now owns 76,700 shares of the company’s stock worth $148,000 after acquiring an additional 65,000 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Bridger Aerospace Group by 7.9% in the third 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. 48.94% of the stock is owned by institutional investors.

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.