Insider Buying: NextNav Inc. (NASDAQ:NN) Major Shareholder Acquires $635,796.00 in Stock

NextNav Inc. (NASDAQ:NN) major shareholder Joseph D. Samberg bought 81,200 shares of NextNav stock in a transaction that occurred on Monday, June 24th. The stock was bought at an average price of $7.83 per share, for a total transaction of $635,796.00. Following the completion of the acquisition, the insider now directly owns 10,000,200 shares of the company’s stock, valued at $78,301,566. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

NextNav Stock Performance

Shares of NASDAQ NN opened at $7.90 on Thursday. The company’s 50 day moving average price is $7.99 and its 200-day moving average price is $5.95. The company has a debt-to-equity ratio of 0.87, a quick ratio of 4.01 and a current ratio of 4.01. NextNav Inc. has a 52-week low of $2.77 and a 52-week high of $9.50.

NextNav (NASDAQ:NN) last released its earnings results on Wednesday, May 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.14). NextNav had a negative net margin of 2,133.30% and a negative return on equity of 109.93%. The firm had revenue of $1.05 million during the quarter, compared to analyst estimates of $1.23 million. Research analysts forecast that NextNav Inc. will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in NextNav by 37.7% during the first quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock worth $21,307,000 after acquiring an additional 887,075 shares in the last quarter. Wolf Hill Capital Management LP acquired a new position in shares of NextNav during the first quarter valued at about $12,195,000. General American Investors Co. Inc. boosted its position in shares of NextNav by 33.2% during the 4th quarter. General American Investors Co. Inc. now owns 1,666,915 shares of the company’s stock worth $7,418,000 after purchasing an additional 415,554 shares in the last quarter. Ancora Advisors LLC grew its stake in shares of NextNav by 4.7% in the 1st quarter. Ancora Advisors LLC now owns 265,797 shares of the company’s stock valued at $1,749,000 after buying an additional 12,000 shares during the period. Finally, Swiss National Bank bought a new stake in NextNav in the 4th quarter valued at about $335,000. 79.16% of the stock is owned by institutional investors and hedge funds.

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.