Wharton Business Group LLC Invests $156,000 in NextNav Inc. (NASDAQ:NN)

Wharton Business Group LLC acquired a new position in shares of NextNav Inc. (NASDAQ:NN) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $156,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of NextNav by 1.1% during the third quarter. State Street Corp now owns 2,010,131 shares of the company’s stock worth $15,056,000 after purchasing an additional 22,152 shares during the last quarter. Geode Capital Management LLC grew its stake in NextNav by 10.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company’s stock worth $12,672,000 after buying an additional 158,455 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in NextNav by 11.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 546,806 shares of the company’s stock worth $4,096,000 after buying an additional 57,780 shares during the period. Ingalls & Snyder LLC lifted its stake in NextNav by 1.5% in the fourth quarter. Ingalls & Snyder LLC now owns 301,400 shares of the company’s stock valued at $4,690,000 after buying an additional 4,500 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of NextNav by 29.2% in the third quarter. Barclays PLC now owns 291,964 shares of the company’s stock valued at $2,187,000 after acquiring an additional 66,039 shares during the period. 79.16% of the stock is currently owned by hedge funds and other institutional investors.

NextNav Stock Down 5.2 %

Shares of NASDAQ:NN opened at $11.80 on Monday. NextNav Inc. has a 1-year low of $3.55 and a 1-year high of $18.54. The stock has a market cap of $1.54 billion, a P/E ratio of -15.73 and a beta of 1.13. The firm has a fifty day moving average price of $13.58 and a 200 day moving average price of $11.60. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01.

Analyst Upgrades and Downgrades

Separately, B. Riley increased their price objective on NextNav from $12.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, November 14th.

Insider Transactions at NextNav

In other news, SVP Arun Raghupathy sold 3,332 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $18.32, for a total value of $61,042.24. Following the completion of the sale, the senior vice president now owns 1,087,019 shares in the company, valued at approximately $19,914,188.08. This trade represents a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mariam Sorond sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $16.40, for a total transaction of $3,280,000.00. Following the completion of the sale, the chief executive officer now owns 1,574,117 shares of the company’s stock, valued at approximately $25,815,518.80. The trade was a 11.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 207,908 shares of company stock worth $3,421,851. Company insiders own 15.70% of the company’s stock.

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.