Raymond James & Associates Trims Stake in BigBear.ai Holdings, Inc. (NYSE:BBAI)

Raymond James & Associates cut its holdings in shares of BigBear.ai Holdings, Inc. (NYSE:BBAI) by 51.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 359,998 shares of the company’s stock after selling 388,951 shares during the quarter. Raymond James & Associates owned about 0.23% of BigBear.ai worth $770,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in BigBear.ai in the third quarter valued at approximately $48,000. Cambridge Investment Research Advisors Inc. raised its holdings in shares of BigBear.ai by 221.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 34,000 shares of the company’s stock valued at $51,000 after buying an additional 23,425 shares during the period. Vontobel Holding Ltd. purchased a new stake in shares of BigBear.ai in the 3rd quarter valued at $54,000. Finally, Koshinski Asset Management Inc. acquired a new position in BigBear.ai during the 3rd quarter worth about $91,000. 7.55% of the stock is owned by institutional investors and hedge funds.

BigBear.ai Trading Up 9.3 %

BigBear.ai stock opened at $1.71 on Wednesday. The firm has a market capitalization of $413.68 million, a P/E ratio of -4.06 and a beta of 3.69. BigBear.ai Holdings, Inc. has a twelve month low of $1.16 and a twelve month high of $4.80. The stock’s fifty day simple moving average is $2.27 and its 200-day simple moving average is $1.91.

BigBear.ai (NYSE:BBAI) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.07). The business had revenue of $40.56 million during the quarter, compared to the consensus estimate of $42.75 million. During the same quarter in the prior year, the company earned ($0.23) earnings per share. BigBear.ai’s quarterly revenue was up .5% compared to the same quarter last year. Sell-side analysts predict that BigBear.ai Holdings, Inc. will post -0.21 earnings per share for the current year.

Insider Buying and Selling

In other BigBear.ai news, Director Bbai Ultimate Holdings, Llc sold 5,557,343 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $2.69, for a total value of $14,949,252.67. Following the sale, the director now directly owns 159,186,896 shares of the company’s stock, valued at approximately $428,212,750.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other BigBear.ai news, Director Bbai Ultimate Holdings, Llc sold 5,557,343 shares of BigBear.ai stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $2.69, for a total transaction of $14,949,252.67. Following the completion of the sale, the director now directly owns 159,186,896 shares of the company’s stock, valued at approximately $428,212,750.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sean Raymond Ricker sold 36,250 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $2.07, for a total value of $75,037.50. Following the transaction, the chief accounting officer now directly owns 99,428 shares of the company’s stock, valued at $205,815.96. The disclosure for this sale can be found here. Insiders sold 5,838,420 shares of company stock worth $15,635,973 over the last 90 days. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reiterated an “overweight” rating and set a $3.00 price target on shares of BigBear.ai in a research note on Monday, March 4th.

BigBear.ai Company Profile

BigBear.ai Holdings, Inc provides artificial intelligence-powered decision intelligence solutions. It offers national security, supply chain management, and digital identity and biometrics solutions. The company also provides data ingestion, data enrichment, data processing, artificial intelligence, machine learning, predictive analytics, and predictive visualization solutions and services.