CenterBook Partners LP Sells 226,199 Shares of NextNav Inc. (NASDAQ:NN)

CenterBook Partners LP lowered its position in shares of NextNav Inc. (NASDAQ:NN - Free Report) by 69.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,451 shares of the company's stock after selling 226,199 shares during the quarter. CenterBook Partners LP owned 0.08% of NextNav worth $1,532,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. US Bancorp DE purchased a new stake in shares of NextNav during the fourth quarter worth $28,000. Russell Investments Group Ltd. grew its holdings in NextNav by 112.5% in the 4th quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company's stock valued at $30,000 after buying an additional 1,018 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of NextNav in the fourth quarter worth $78,000. FMR LLC grew its position in NextNav by 354.3% in the 3rd quarter. FMR LLC now owns 16,418 shares of the company's stock worth $123,000 after purchasing an additional 12,804 shares during the last quarter. Finally, Wharton Business Group LLC bought a new position in NextNav during the fourth quarter valued at about $156,000. Hedge funds and other institutional investors own 79.16% of the company's stock.

Insider Activity

In other NextNav news, CAO Sammaad Shams sold 4,005 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $11.21, for a total value of $44,896.05. Following the completion of the transaction, the chief accounting officer now directly owns 81,100 shares of the company's stock, valued at approximately $909,131. The trade was a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Christian D. Gates sold 5,730 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $11.24, for a total transaction of $64,405.20. Following the sale, the chief financial officer now directly owns 857,206 shares in the company, valued at $9,634,995.44. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,705 shares of company stock worth $816,495. Corporate insiders own 15.70% of the company's stock.

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NextNav Stock Performance

Shares of NN stock traded down $0.28 during mid-day trading on Tuesday, reaching $12.06. The stock had a trading volume of 871,595 shares, compared to its average volume of 1,050,196. NextNav Inc. has a one year low of $6.47 and a one year high of $18.54. The firm has a market cap of $1.59 billion, a PE ratio of -16.08 and a beta of 1.03. The firm's 50 day simple moving average is $11.71 and its 200 day simple moving average is $12.69. 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 (NASDAQ:NN - Get Free Report) last issued its earnings results on Wednesday, March 12th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.10). The firm had revenue of $1.91 million during the quarter, compared to the consensus estimate of $1.73 million. NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. On average, analysts forecast that NextNav Inc. will post -0.74 EPS for the current year.

NextNav 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.