BigBear.ai (NYSE:BBAI) Shares Down 4.7% Following Insider Selling

BigBear.ai Holdings, Inc. (NYSE:BBAI) shares were down 4.7% during trading on Friday after an insider sold shares in the company. The stock traded as low as $2.04 and last traded at $2.05. Approximately 6,681,986 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 25,900,046 shares. The stock had previously closed at $2.15.

Specifically, Director Bbai Ultimate Holdings, Llc sold 5,557,343 shares of the company’s stock in a transaction that occurred on 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Bbai Ultimate Holdings, Llc sold 5,557,343 shares of the stock in a transaction that occurred on 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 transaction, 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 SEC, which is accessible through this link. Also, CAO Sean Raymond Ricker sold 36,250 shares of the stock in a transaction that occurred on 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 a total of 5,838,420 shares of company stock valued at $15,635,973 in the last ninety days. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald restated an “overweight” rating and issued a $3.00 price target on shares of BigBear.ai in a report on Monday, March 4th.

BigBear.ai Stock Performance

The business has a fifty day simple moving average of $2.28 and a 200 day simple moving average of $1.87. The stock has a market cap of $497.39 million, a price-to-earnings ratio of -4.88 and a beta of 3.86.

BigBear.ai (NYSE:BBAI) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.07). The firm had revenue of $40.56 million during the quarter, compared to analyst estimates of $42.75 million. During the same quarter last year, the business earned ($0.23) EPS. The firm’s revenue was up .5% on a year-over-year basis. On average, equities research analysts anticipate that BigBear.ai Holdings, Inc. will post -0.21 EPS for the current fiscal year.

Institutional Investors Weigh In On BigBear.ai

Several hedge funds have recently made changes to their positions in BBAI. Invesco Ltd. acquired a new stake in shares of BigBear.ai during the first quarter worth $2,953,000. Goldman Sachs Group Inc. purchased a new position in shares of BigBear.ai in the 1st quarter worth $142,000. Credit Suisse AG purchased a new position in shares of BigBear.ai in the 2nd quarter worth $55,000. UBS Group AG raised its position in shares of BigBear.ai by 344.9% in the 3rd quarter. UBS Group AG now owns 58,364 shares of the company’s stock worth $92,000 after buying an additional 45,247 shares during the period. Finally, Bank of America Corp DE purchased a new position in shares of BigBear.ai in the 1st quarter worth $5,390,000. Institutional investors and hedge funds own 7.55% of the company’s stock.

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.