Vanguard Group Inc. Buys 759,775 Shares of NextNav Inc. (NASDAQ:NN)

Vanguard Group Inc. boosted its position in NextNav Inc. (NASDAQ:NN - Free Report) by 23.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,017,060 shares of the company's stock after acquiring an additional 759,775 shares during the period. Vanguard Group Inc. owned 3.08% of NextNav worth $62,505,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in NextNav by 11.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 546,806 shares of the company's stock valued at $4,096,000 after acquiring an additional 57,780 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of NextNav by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company's stock worth $12,672,000 after purchasing an additional 158,455 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of NextNav by 170.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 27,000 shares of the company's stock valued at $420,000 after purchasing an additional 17,000 shares in the last quarter. Commonwealth Equity Services LLC increased its position 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 valued at $3,371,000 after buying an additional 203,734 shares during the period. Finally, Rhumbline Advisers raised its stake in NextNav by 3.2% in the fourth quarter. Rhumbline Advisers now owns 99,516 shares of the company's stock worth $1,548,000 after buying an additional 3,075 shares in the last quarter. Hedge funds and other institutional investors own 79.16% of the company's stock.

Remove Ads

Insider Buying and Selling at NextNav

In other news, CEO Mariam Sorond sold 62,868 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $11.23, for a total transaction of $706,007.64. Following the sale, the chief executive officer now owns 1,550,358 shares in the company, valued at $17,410,520.34. This represents a 3.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Sammaad Shams sold 4,005 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was 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 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. Over the last quarter, insiders sold 72,705 shares of company stock valued at $816,495. Corporate insiders own 15.70% of the company's stock.

NextNav Stock Down 2.3 %

Shares of NN stock traded down $0.28 during midday trading on Tuesday, reaching $12.06. 873,624 shares of the stock were exchanged, compared to its average volume of 1,050,204. NextNav Inc. has a 1 year low of $6.47 and a 1 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 company's 50 day moving average is $11.71 and its two-hundred day moving average is $12.69. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81.

NextNav (NASDAQ:NN - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $1.73 million. NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. On average, equities research analysts predict 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.