Quest Partners LLC Makes New $88,000 Investment in NextNav Inc. (NASDAQ:NN)

Quest Partners LLC bought a new position in shares of NextNav Inc. (NASDAQ:NN) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,855 shares of the company’s stock, valued at approximately $88,000.

Several other hedge funds have also modified their holdings of NN. Vanguard Group Inc. increased its position in NextNav by 37.7% in the first quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock worth $21,307,000 after purchasing an additional 887,075 shares during the period. Wolf Hill Capital Management LP bought a new position in shares of NextNav in the 1st quarter valued at about $12,195,000. General American Investors Co. Inc. grew 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 buying an additional 415,554 shares during the period. Ingalls & Snyder LLC raised its stake in shares of NextNav by 20.7% during the second quarter. Ingalls & Snyder LLC now owns 296,900 shares of the company’s stock worth $2,408,000 after buying an additional 51,000 shares during the last quarter. Finally, Ancora Advisors LLC lifted its holdings in NextNav by 4.7% in the first 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. 79.16% of the stock is owned by institutional investors.

Insider Transactions at NextNav

In other news, major shareholder Joseph D. Samberg bought 81,200 shares of the stock in a transaction on Monday, June 24th. The stock was purchased at an average price of $7.83 per share, with a total value of $635,796.00. Following the completion of the purchase, the insider now owns 10,000,200 shares of the company’s stock, valued at $78,301,566. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other NextNav news, major shareholder Joseph D. Samberg purchased 81,200 shares of the stock in a transaction on Monday, June 24th. The stock was bought at an average cost 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Joseph D. Samberg purchased 181,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were acquired at an average cost of $7.30 per share, for a total transaction of $1,321,300.00. Following the transaction, the insider now owns 9,881,450 shares of the company’s stock, valued at $72,134,585. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 487,200 shares of company stock worth $3,515,346. 15.70% of the stock is currently owned by company insiders.

NextNav Price Performance

Shares of NN stock opened at $7.60 on Wednesday. The firm’s 50 day moving average price is $7.72 and its two-hundred day moving average price is $7.46. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.93 and a current ratio of 5.93. NextNav Inc. has a 52-week low of $3.55 and a 52-week high of $9.50. The stock has a market cap of $929.88 million, a PE ratio of -9.61 and a beta of 1.06.

NextNav (NASDAQ:NN) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). NextNav had a negative return on equity of 134.05% and a negative net margin of 2,181.52%. The company had revenue of $1.11 million for the quarter, compared to analyst estimates of $1.63 million. During the same period last year, the firm earned ($0.15) earnings per share. As a group, analysts forecast that NextNav Inc. will post -0.81 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.