Bank of New York Mellon Corp Increases Position in NextNav Inc. (NASDAQ:NN)

Bank of New York Mellon Corp increased its position in NextNav Inc. (NASDAQ:NN - Free Report) by 14.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,459 shares of the company's stock after buying an additional 26,412 shares during the period. Bank of New York Mellon Corp owned 0.16% of NextNav worth $3,228,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in shares of NextNav in the 4th quarter valued at about $78,000. King Luther Capital Management Corp acquired a new position in NextNav during the 3rd quarter valued at about $90,000. FMR LLC boosted its stake in NextNav by 354.3% during the 3rd quarter. FMR LLC now owns 16,418 shares of the company's stock valued at $123,000 after purchasing an additional 12,804 shares during the last quarter. GSA Capital Partners LLP acquired a new position in NextNav during the 3rd quarter valued at about $125,000. Finally, Intech Investment Management LLC acquired a new position in NextNav during the 3rd quarter valued at about $150,000. 79.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NextNav

In other NextNav news, CEO Mariam Sorond sold 62,868 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $11.23, for a total transaction of $706,007.64. Following the sale, the chief executive officer now owns 1,550,358 shares of the company's stock, valued at $17,410,520.34. The trade was a 3.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sammaad Shams sold 4,005 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $11.21, for a total transaction of $44,896.05. Following the completion of the transaction, the chief accounting officer now directly owns 81,100 shares in the company, valued at approximately $909,131. The trade was a 4.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,705 shares of company stock worth $816,495 in the last 90 days. Insiders own 15.70% of the company's stock.

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NextNav Stock Up 1.1 %

NN stock traded up $0.13 during mid-day trading on Friday, reaching $11.97. 1,672,673 shares of the company traded hands, compared to its average volume of 995,544. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -15.96 and a beta of 1.17. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81. NextNav Inc. has a fifty-two week low of $6.19 and a fifty-two week high of $18.54. The firm's 50 day moving average price is $11.78 and its 200 day moving average price is $12.07.

NextNav (NASDAQ:NN - Get Free Report) last announced its earnings results on Wednesday, March 12th. The company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.10). NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. The business had revenue of $1.91 million during the quarter, compared to analysts' expectations of $1.73 million. As a group, equities research analysts predict that NextNav Inc. will post -0.74 EPS for the current fiscal year.

NextNav Company Profile

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.