NextNav Inc. $NN Stock Position Lifted by Leelyn Smith LLC

Leelyn Smith LLC increased its position in NextNav Inc. (NASDAQ:NN) by 1,047.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 233,555 shares of the company’s stock after buying an additional 213,197 shares during the quarter. Leelyn Smith LLC owned 0.14% of NextNav worth $3,359,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CenterBook Partners LP boosted its position in NextNav by 309.1% during the 3rd quarter. CenterBook Partners LP now owns 124,630 shares of the company’s stock valued at $1,792,000 after buying an additional 94,169 shares during the period. General American Investors Co. Inc. purchased a new position in shares of NextNav in the third quarter valued at about $10,063,000. Commonwealth Equity Services LLC purchased a new position in shares of NextNav in the third quarter valued at about $5,319,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of NextNav in the third quarter valued at about $111,000. Finally, ProShare Advisors LLC bought a new position in shares of NextNav during the third quarter valued at about $183,000. 79.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NextNav

In other news, General Counsel James S. Black sold 1,878 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $15.34, for a total value of $28,808.52. Following the completion of the transaction, the general counsel owned 89,810 shares in the company, valued at $1,377,685.40. This trade represents a 2.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mariam Sorond sold 2,831 shares of NextNav stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $14.72, for a total value of $41,672.32. Following the sale, the chief executive officer owned 1,168,961 shares in the company, valued at $17,207,105.92. This represents a 0.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 87,667 shares of company stock valued at $1,331,153. 7.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Odeon Capital Group started coverage on shares of NextNav in a report on Monday, July 20th. They set a “buy” rating and a $22.00 target price for the company. Wells Fargo & Company restated a “buy” rating on shares of NextNav in a report on Monday, September 21st. Wall Street Zen downgraded NextNav from a “hold” rating to a “sell” rating in a report on Sunday, September 27th. Clear Str raised NextNav to a “strong-buy” rating in a research report on Monday, September 21st. Finally, Zacks Research cut NextNav from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, NextNav has a consensus rating of “Moderate Buy” and an average price target of $32.33.

NextNav Trading Up 7.2%

NASDAQ:NN opened at $8.61 on Friday. The company has a 50-day moving average price of $12.83 and a 200-day moving average price of $16.25. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -8.88 and a beta of 1.20. NextNav Inc. has a 12 month low of $7.60 and a 12 month high of $24.42.

NextNav (NASDAQ:NN) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.08). NextNav had a negative net margin of 3,232.19% and a negative return on equity of 211.25%. The company had revenue of $1.15 million for the quarter, compared to analysts’ expectations of $0.92 million. Equities analysts forecast that NextNav Inc. will post -0.46 EPS for the current fiscal year.

NextNav Company Profile

NextNav Inc (NASDAQ:NN) develops positioning, navigation and timing technologies designed to provide reliable location information in environments where traditional GPS and satellite-based systems may be unavailable, inaccurate or vulnerable to disruption. The company’s services are intended for applications in communications, public safety, transportation, logistics, mapping and other industries that rely on precise location and timing data.

NextNav’s primary products include Pinnacle, a terrestrial network that provides three-dimensional positioning, including accurate altitude information, and TerraPoiNT, a terrestrial positioning, navigation and timing system designed to complement or serve as an alternative to GPS.