Fleming James B JR Takes $80.62 Million Position in NextNav Inc. (NASDAQ:NN)

Fleming James B JR bought a new stake in NextNav Inc. (NASDAQ:NN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,181,118 shares of the company's stock, valued at approximately $80,618,000. NextNav accounts for about 96.5% of Fleming James B JR's portfolio, making the stock its largest position. Fleming James B JR owned 3.97% of NextNav as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NN. Vanguard Group Inc. lifted its stake in NextNav by 23.3% during the 4th quarter. Vanguard Group Inc. now owns 4,017,060 shares of the company's stock valued at $62,505,000 after acquiring an additional 759,775 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of NextNav by 1,580.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 216,625 shares of the company's stock worth $3,371,000 after purchasing an additional 203,734 shares during the last quarter. Geode Capital Management LLC lifted its position in NextNav by 10.3% during the third quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company's stock valued at $12,672,000 after purchasing an additional 158,455 shares during the period. Paloma Partners Management Co purchased a new stake in NextNav in the third quarter valued at $1,060,000. Finally, 272 Capital LP acquired a new stake in NextNav during the 3rd quarter worth about $756,000. Hedge funds and other institutional investors own 79.16% of the company's stock.

NextNav Stock Performance

NextNav stock traded down $0.04 during mid-day trading on Friday, hitting $12.97. The company had a trading volume of 689,499 shares, compared to its average volume of 1,014,336. 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 $1.70 billion, a price-to-earnings ratio of -17.27 and a beta of 1.17. The company's fifty day moving average is $11.79 and its 200-day moving average is $12.20. NextNav Inc. has a 12-month low of $6.42 and a 12-month high of $18.54.

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NextNav (NASDAQ:NN - Get Free Report) last released its quarterly 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 net margin of 1,732.92% and a negative return on equity of 128.95%. The firm had revenue of $1.91 million for the quarter, compared to analyst estimates of $1.73 million. Equities research analysts predict that NextNav Inc. will post -0.74 EPS for the current year.

Insider Buying and Selling

In other news, CEO Mariam Sorond sold 62,868 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $11.23, for a total transaction of $706,007.64. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Christian D. Gates sold 5,730 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $11.24, for a total transaction of $64,405.20. Following the completion of the transaction, the chief financial officer now directly owns 857,206 shares in the company, valued at $9,634,995.44. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,705 shares of company stock valued at $816,495. 15.70% of the stock is owned by company insiders.

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.