Corsair Capital Management L.P. Sells 52,000 Shares of NextNav Inc. (NASDAQ:NN)

Corsair Capital Management L.P. lowered its position in NextNav Inc. (NASDAQ:NN - Free Report) by 40.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,344 shares of the company's stock after selling 52,000 shares during the quarter. Corsair Capital Management L.P. owned approximately 0.06% of NextNav worth $564,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NN. Vanguard Group Inc. grew its position in shares of NextNav by 37.7% during the 1st quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company's stock valued at $21,307,000 after acquiring an additional 887,075 shares during the period. Wolf Hill Capital Management LP increased its holdings in NextNav by 14.6% in the 2nd quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company's stock valued at $17,218,000 after purchasing an additional 269,754 shares during the last quarter. Empyrean Capital Partners LP increased its holdings in NextNav by 56.6% in the 2nd quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company's stock valued at $5,359,000 after purchasing an additional 238,845 shares during the last quarter. DigitalBridge Group Inc. acquired a new stake in NextNav in the 2nd quarter valued at approximately $1,741,000. Finally, Marshall Wace LLP acquired a new position in shares of NextNav in the second quarter worth $1,571,000. Hedge funds and other institutional investors own 79.16% of the company's stock.

NextNav Trading Up 4.2 %

Shares of NN stock traded up $0.67 on Wednesday, reaching $16.73. 1,002,778 shares of the stock were exchanged, compared to its average volume of 875,023. NextNav Inc. has a one year low of $3.55 and a one year high of $17.10. The stock has a 50 day moving average price of $10.71 and a 200 day moving average price of $8.79. The stock has a market cap of $2.16 billion, a PE ratio of -22.52 and a beta of 0.94. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01.

Wall Street Analysts Forecast Growth

Separately, B. Riley upped their target price on shares of NextNav from $12.00 to $20.00 and gave the company a "buy" rating in a report on Thursday, November 14th.

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.