UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stock Position in New Fortress Energy Inc. (NASDAQ:NFE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,667 shares of the company’s stock after selling 4,927 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in New Fortress Energy were worth $1,279,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Nicolet Advisory Services LLC bought a new position in shares of New Fortress Energy during the 3rd quarter valued at $104,000. Primecap Management Co. CA boosted its position in New Fortress Energy by 43.7% during the third quarter. Primecap Management Co. CA now owns 11,532,105 shares of the company’s stock valued at $104,827,000 after buying an additional 3,505,975 shares during the period. Quest Partners LLC grew its stake in shares of New Fortress Energy by 209.9% during the third quarter. Quest Partners LLC now owns 35,421 shares of the company’s stock valued at $322,000 after buying an additional 23,993 shares during the last quarter. KBC Group NV increased its holdings in shares of New Fortress Energy by 116.9% in the third quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after buying an additional 1,852 shares during the period. Finally, American Assets Investment Management LLC lifted its stake in shares of New Fortress Energy by 101.6% in the 3rd quarter. American Assets Investment Management LLC now owns 114,065 shares of the company’s stock valued at $1,037,000 after acquiring an additional 57,479 shares during the last quarter. 58.61% of the stock is owned by hedge funds and other institutional investors.

New Fortress Energy Trading Up 0.5 %

NASDAQ NFE opened at $11.94 on Wednesday. The stock has a market cap of $3.00 billion, a P/E ratio of 13.25 and a beta of 1.60. New Fortress Energy Inc. has a fifty-two week low of $7.82 and a fifty-two week high of $39.26. The stock has a 50 day simple moving average of $9.83 and a two-hundred day simple moving average of $14.28. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NFE shares. Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target on the stock in a research report on Wednesday, December 4th. Morgan Stanley cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $35.00 to $15.00 in a report on Thursday, October 3rd. Finally, BTIG Research lowered their price target on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.33.

Insider Buying and Selling

In related news, CEO Wesley R. Edens purchased 5,793,742 shares of New Fortress Energy stock in a transaction that occurred on Tuesday, October 1st. The shares were bought at an average price of $8.63 per share, for a total transaction of $49,999,993.46. Following the completion of the transaction, the chief executive officer now directly owns 35,721,915 shares of the company’s stock, valued at $308,280,126.45. This represents a 19.36 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 37.10% of the stock is currently owned by insiders.

About New Fortress Energy

New Fortress Energy Inc operates as an integrated gas-to-power energy infrastructure company that provides energy and development services to end-users worldwide. The company operates in two segments, Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment engages in the natural gas procurement and liquefaction; and shipping, logistics, facilities and conversion, or development of natural gas-fired power generation.