Cannell & Spears LLC Boosts Stock Position in NextNav Inc. (NASDAQ:NN)

Cannell & Spears LLC lifted its stake in NextNav Inc. (NASDAQ:NN) by 6.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 157,048 shares of the company’s stock after purchasing an additional 9,000 shares during the quarter. Cannell & Spears LLC owned about 0.12% of NextNav worth $2,444,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of NextNav by 11.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 546,806 shares of the company’s stock valued at $4,096,000 after buying an additional 57,780 shares during the period. Geode Capital Management LLC grew its position in NextNav by 10.3% in the third quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company’s stock worth $12,672,000 after acquiring an additional 158,455 shares during the period. Paloma Partners Management Co acquired a new stake in NextNav during the third quarter worth $1,060,000. Oppenheimer & Co. Inc. raised its position in NextNav by 170.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 27,000 shares of the company’s stock valued at $420,000 after purchasing an additional 17,000 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of NextNav by 3.2% in the 4th quarter. Rhumbline Advisers now owns 99,516 shares of the company’s stock valued at $1,548,000 after purchasing an additional 3,075 shares during the last quarter. Hedge funds and other institutional investors own 79.16% of the company’s stock.

Insider Activity at NextNav

In other news, CAO Sammaad Shams sold 4,005 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $11.21, for a total transaction of $44,896.05. Following the sale, the chief accounting officer now owns 81,100 shares of the company’s stock, valued at approximately $909,131. This represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mariam Sorond sold 62,868 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $11.23, for a total transaction of $706,007.64. Following the completion of the transaction, the chief executive officer now directly owns 1,550,358 shares of the company’s stock, valued at approximately $17,410,520.34. The trade was a 3.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,705 shares of company stock worth $816,495. Insiders own 15.70% of the company’s stock.

NextNav Stock Down 5.7 %

Shares of NASDAQ:NN opened at $12.17 on Tuesday. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -16.23 and a beta of 1.17. NextNav Inc. has a 12-month low of $6.47 and a 12-month high of $18.54. The business has a 50-day moving average price of $11.77 and a 200 day moving average price of $12.34. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81.

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

About NextNav

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.