272 Capital LP Makes New Investment in NextNav Inc. (NASDAQ:NN)

272 Capital LP acquired a new stake in NextNav Inc. (NASDAQ:NN - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 100,961 shares of the company's stock, valued at approximately $756,000. 272 Capital LP owned 0.08% of NextNav as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Paloma Partners Management Co bought a new stake in shares of NextNav during the 3rd quarter valued at $1,060,000. Wittenberg Investment Management Inc. purchased a new position in NextNav during the 3rd quarter valued at about $366,000. Wolf Hill Capital Management LP increased its position in shares of NextNav by 14.6% during the second quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company's stock valued at $17,218,000 after buying an additional 269,754 shares during the period. Marshall Wace LLP bought a new stake in shares of NextNav during the second quarter valued at about $1,571,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of NextNav by 47.9% in the second quarter. Bank of New York Mellon Corp now owns 217,143 shares of the company's stock worth $1,761,000 after buying an additional 70,343 shares in the last quarter. 79.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, B. Riley raised their price target on NextNav from $12.00 to $20.00 and gave the company a "buy" rating in a report on Thursday, November 14th.

Insider Activity

In other NextNav news, CEO Mariam Sorond sold 200,000 shares of the firm's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $16.40, for a total transaction of $3,280,000.00. Following the completion of the transaction, the chief executive officer now owns 1,574,117 shares of the company's stock, valued at approximately $25,815,518.80. This trade represents a 11.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 201,459 shares of company stock valued at $3,300,854. Corporate insiders own 15.70% of the company's stock.

NextNav Trading Down 2.3 %

NN traded down $0.40 during midday trading on Friday, reaching $16.79. 792,634 shares of the company's stock traded hands, compared to its average volume of 877,961. NextNav Inc. has a 52 week low of $3.55 and a 52 week high of $18.10. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01. The firm has a fifty day moving average of $13.18 and a two-hundred day moving average of $9.61. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of -22.39 and a beta of 1.13.

About NextNav

NextNav Inc provides next generation positioning, navigation, and timing (PNT) solutions in the United States. It offers Pinnacle, a dedicated vertical positioning network to cover entire metropolitan areas including devices equipped with a barometric pressure sensor with the highest quality wide-area altitude service.