Holdings L.P. Blackstone II Sells 1,900,000 Shares of Bridger Aerospace Group (NASDAQ:BAER) 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 transaction of $3,230,000.00. Following the completion of the sale, the insider owned 58,205 shares of the company’s stock, valued at $98,948.50. This represents a 97.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Bridger Aerospace Group Trading Down 5.1%

NASDAQ BAER traded down $0.09 during trading on Thursday, hitting $1.69. 2,938,055 shares of the company traded hands, compared to its average volume of 739,104. The company has a market capitalization of $94.50 million, a P/E ratio of -2.01 and a beta of 0.35. The business has a fifty day simple moving average of $1.92 and a 200 day simple moving average of $2.15. Bridger Aerospace Group Holdings, Inc. has a 12 month low of $1.47 and a 12 month high of $3.44.

Bridger Aerospace Group (NASDAQ:BAER) last issued its quarterly earnings data 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 10.05% and a negative return on equity of 1.21%. The company had revenue of $30.49 million for the quarter, compared to analyst estimates of $37.04 million. Equities research analysts predict that Bridger Aerospace Group Holdings, Inc. will post -0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BAER. XTX Topco Ltd acquired a new stake in Bridger Aerospace Group during the second quarter worth about $26,000. HB Wealth Management LLC acquired a new position in Bridger Aerospace Group in the 1st quarter valued at approximately $26,000. Janney Montgomery Scott LLC acquired a new position in Bridger Aerospace Group in the 1st quarter valued at approximately $30,000. Stifel Financial Corp lifted its position in shares of Bridger Aerospace Group by 23.6% in the 4th quarter. Stifel Financial Corp now owns 21,860 shares of the company’s stock worth $40,000 after acquiring an additional 4,180 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Bridger Aerospace Group during the 1st quarter worth approximately $41,000. Institutional investors and hedge funds own 48.94% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Bridger Aerospace Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Canaccord Genuity Group set a $4.50 price target on shares of Bridger Aerospace Group in a report on Friday, May 8th. Weiss Ratings downgraded Bridger Aerospace Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 28th. Finally, Lake Street Capital initiated coverage on Bridger Aerospace Group in a research note on Wednesday, May 20th. They issued a “buy” rating and a $4.50 price objective on the stock. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.12.

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.