Fleming James B JR Makes New Investment in NextNav Inc. (NASDAQ:NN)

Fleming James B JR purchased a new stake in NextNav Inc. (NASDAQ:NN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,181,118 shares of the company’s stock, valued at approximately $80,618,000. NextNav comprises approximately 96.5% of Fleming James B JR’s holdings, making the stock its largest position. Fleming James B JR owned about 3.97% of NextNav as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. US Bancorp DE bought a new position in NextNav during the fourth quarter worth $28,000. Golden State Wealth Management LLC bought a new position in shares of NextNav in the 4th quarter worth about $78,000. King Luther Capital Management Corp acquired a new position in shares of NextNav in the 3rd quarter valued at about $90,000. FMR LLC boosted its position in shares of NextNav by 354.3% during the 3rd quarter. FMR LLC now owns 16,418 shares of the company’s stock valued at $123,000 after purchasing an additional 12,804 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in NextNav during the third quarter worth approximately $125,000. 79.16% of the stock is currently owned by institutional investors.

NextNav Trading Up 6.6 %

Shares of NN stock opened at $12.76 on Tuesday. NextNav Inc. has a fifty-two week low of $6.19 and a fifty-two week high of $18.54. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.01 and a current ratio of 5.01. The stock has a 50 day simple moving average of $11.77 and a two-hundred day simple moving average of $12.15. The company has a market cap of $1.68 billion, a P/E ratio of -17.01 and a beta of 1.17.

NextNav (NASDAQ:NN) last released its quarterly earnings data on Wednesday, March 12th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.10). The company had revenue of $1.91 million during the quarter, compared to the consensus estimate of $1.73 million. NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. Research analysts forecast that NextNav Inc. will post -0.74 earnings per share for the current year.

Insider Activity

In related news, CAO Sammaad Shams sold 4,005 shares of NextNav stock in a transaction on Monday, March 17th. The shares were sold at an average price of $11.21, for a total value of $44,896.05. Following the completion of the sale, the chief accounting officer now owns 81,100 shares of the company’s stock, valued at approximately $909,131. This trade represents a 4.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Christian D. Gates sold 5,730 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $11.24, for a total transaction of $64,405.20. Following the sale, the chief financial officer now owns 857,206 shares of the company’s stock, valued at $9,634,995.44. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,705 shares of company stock worth $816,495. Company insiders own 15.70% of the company’s stock.

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.