Invesco Ltd. Grows Position in NextNav Inc. (NASDAQ:NN)

Invesco Ltd. grew its stake in NextNav Inc. (NASDAQ:NN - Free Report) by 2,461.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 712,385 shares of the company's stock after acquiring an additional 684,571 shares during the quarter. Invesco Ltd. owned about 0.55% of NextNav worth $11,085,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NN. US Bancorp DE acquired a new stake in shares of NextNav in the fourth quarter worth approximately $28,000. Russell Investments Group Ltd. boosted its holdings in shares of 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 purchasing an additional 1,018 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of NextNav in the 4th quarter valued at $78,000. Wharton Business Group LLC purchased a new stake in shares of NextNav during the 4th quarter valued at $156,000. Finally, Mission Wealth Management LP acquired a new stake in shares of NextNav during the 4th quarter worth $156,000. Institutional investors and hedge funds own 79.16% of the company's stock.

NextNav Price Performance

Shares of NextNav stock opened at $10.96 on Wednesday. The stock has a market capitalization of $1.45 billion, a P/E ratio of -14.61 and a beta of 1.03. 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 business's fifty day moving average price is $11.66 and its 200 day moving average price is $12.82. NextNav Inc. has a twelve month low of $6.47 and a twelve month high of $18.54.

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

Insider Activity

In other news, CEO Mariam Sorond sold 62,868 shares of the company'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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sammaad Shams sold 4,005 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $11.21, for a total transaction of $44,896.05. Following the sale, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,705 shares of company stock valued at $816,495. Company insiders own 15.70% of the company's stock.

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.

Want to see what other hedge funds are holding NN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NextNav Inc. (NASDAQ:NN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.