Federated Hermes Inc. Makes New $3.74 Million Investment in NextNav Inc. (NASDAQ:NN)

Federated Hermes Inc. acquired a new stake in shares of NextNav Inc. (NASDAQ:NN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 240,484 shares of the company's stock, valued at approximately $3,742,000. Federated Hermes Inc. owned approximately 0.18% of NextNav as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE acquired a new stake in NextNav during the fourth quarter valued at approximately $28,000. Russell Investments Group Ltd. boosted its stake in shares of NextNav by 112.5% during 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 period. Golden State Wealth Management LLC purchased a new position in NextNav in the fourth quarter valued at about $78,000. Wharton Business Group LLC bought a new stake in shares of NextNav in the 4th quarter valued at approximately $156,000. Finally, Mission Wealth Management LP bought a new stake in NextNav in the fourth quarter worth approximately $156,000. 79.16% of the stock is currently owned by institutional investors.

NextNav Stock Down 2.3 %

NASDAQ NN traded down $0.28 during trading on Tuesday, hitting $12.06. 873,624 shares of the company traded hands, compared to its average volume of 1,052,120. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $1.59 billion, a P/E ratio of -16.08 and a beta of 1.03. The business has a fifty day simple moving average of $11.71 and a 200 day simple moving average of $12.69. NextNav Inc. has a 12 month low of $6.47 and a 12 month high of $18.54.

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NextNav (NASDAQ:NN - Get Free Report) last announced 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). NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. The firm had revenue of $1.91 million during the quarter, compared to the consensus estimate of $1.73 million. As a group, sell-side analysts predict that NextNav Inc. will post -0.74 EPS for the current year.

Insider Transactions at NextNav

In other NextNav news, CAO Sammaad Shams sold 4,005 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were 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 owns 81,100 shares in the company, valued at $909,131. This trade represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $706,007.64. Following the completion of the sale, the chief executive officer now directly owns 1,550,358 shares in the company, valued at approximately $17,410,520.34. This represents a 3.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,705 shares of company stock worth $816,495 over the last three months. 15.70% of the stock is currently owned by insiders.

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.