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 Bridger Aerospace Group 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 sale, the insider owned 58,205 shares in the company, valued at $98,948.50. This represents a 97.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Bridger Aerospace Group Stock Down 5.1%

Bridger Aerospace Group stock traded down $0.09 on Thursday, hitting $1.69. The company’s stock had a trading volume of 2,938,055 shares, compared to its average volume of 739,104. Bridger Aerospace Group Holdings, Inc. has a one year low of $1.47 and a one year high of $3.44. The firm has a market cap of $94.50 million, a P/E ratio of -2.01 and a beta of 0.35. The company has a fifty day moving average price of $1.92 and a 200-day moving average price of $2.15.

Bridger Aerospace Group (NASDAQ:BAER) last issued its earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $30.49 million for the quarter, compared to analyst estimates of $37.04 million. Analysts anticipate that Bridger Aerospace Group Holdings, Inc. will post -0.49 EPS for the current year.

Institutional Trading of Bridger Aerospace Group

A number of institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Bridger Aerospace Group in the 1st quarter valued at approximately $41,000. XTX Topco Ltd acquired a new position in shares of Bridger Aerospace Group in the 2nd quarter valued at $26,000. Jane Street Group LLC bought a new stake in shares of Bridger Aerospace Group in the 2nd quarter valued at $73,000. Bridgeway Capital Management LLC raised its position in shares of Bridger Aerospace Group by 555.6% during the second quarter. Bridgeway Capital Management LLC now owns 76,700 shares of the company’s stock worth $148,000 after purchasing an additional 65,000 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of 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. Institutional investors and hedge funds own 48.94% of the company’s stock.

Analyst Ratings Changes

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