NextNav Inc. $NN Stake Decreased by General American Investors Co. Inc.

General American Investors Co. Inc. lessened its holdings in shares of NextNav Inc. (NASDAQ:NN) by 18.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 800,210 shares of the company’s stock after selling 176,765 shares during the quarter. General American Investors Co. Inc.’s holdings in NextNav were worth $13,315,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NN. Caitong International Asset Management Co. Ltd raised its holdings in shares of NextNav by 347.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock valued at $37,000 after buying an additional 1,721 shares during the last quarter. Clearstead Advisors LLC bought a new stake in shares of NextNav during the third quarter valued at approximately $52,000. Kestra Advisory Services LLC bought a new stake in shares of NextNav during the fourth quarter valued at approximately $116,000. BNP Paribas Financial Markets raised its holdings in shares of NextNav by 64.4% during the second quarter. BNP Paribas Financial Markets now owns 8,918 shares of the company’s stock valued at $136,000 after buying an additional 3,493 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of NextNav by 451.2% during the third quarter. Russell Investments Group Ltd. now owns 10,275 shares of the company’s stock valued at $147,000 after buying an additional 8,411 shares during the last quarter. Institutional investors own 79.16% of the company’s stock.

NextNav Stock Performance

NextNav stock opened at $21.50 on Friday. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of -17.77 and a beta of 1.04. NextNav Inc. has a 1 year low of $10.87 and a 1 year high of $24.42. The firm’s 50 day moving average price is $19.78 and its two-hundred day moving average price is $17.37.

NextNav (NASDAQ:NN) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.03. The business had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.94 million. As a group, equities analysts predict that NextNav Inc. will post -0.5 EPS for the current fiscal year.

Insider Buying and Selling at NextNav

In other NextNav news, General Counsel James S. Black sold 9,429 shares of NextNav stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $17.97, for a total value of $169,439.13. Following the transaction, the general counsel owned 93,566 shares in the company, valued at approximately $1,681,381.02. The trade was a 9.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Gray sold 1,405 shares of NextNav stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $18.11, for a total transaction of $25,444.55. Following the completion of the transaction, the chief financial officer owned 131,786 shares in the company, valued at approximately $2,386,644.46. This trade represents a 1.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 101,133 shares of company stock worth $1,943,851. 7.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on NN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a report on Tuesday, April 21st. Wall Street Zen upgraded NextNav from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. B. Riley Financial restated a “buy” rating on shares of NextNav in a research report on Thursday, April 23rd. UBS Group set a $25.00 target price on NextNav in a research report on Thursday, April 16th. Finally, Oppenheimer upped their target price on NextNav from $25.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, NextNav presently has an average rating of “Hold” and a consensus price target of $37.50.

About NextNav

NextNav, Inc is a provider of advanced 3D geolocation infrastructure and positioning services in the United States. The company operates a nationwide network designed to deliver real-time horizontal and vertical location data for consumer, enterprise and public safety applications. By leveraging spectrum holdings in the 900 MHz band, NextNav’s network offers precise altitude and position information that complements GPS and other satellite systems, particularly in urban canyons, indoors or underground environments where traditional signals struggle.

At the core of NextNav’s offering is its TerraPoiNT platform, which enables developers, carriers and emergency response centers to integrate high-accuracy vertical location into their applications and workflows.