AQR Capital Management LLC Cuts Stock Position in NextNav Inc. (NASDAQ:NN)

AQR Capital Management LLC trimmed its position in shares of NextNav Inc. (NASDAQ:NN) by 5.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,304 shares of the company’s stock after selling 1,556 shares during the period. AQR Capital Management LLC’s holdings in NextNav were worth $221,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NN. Caxton Associates LP purchased a new position in NextNav in the 2nd quarter worth $331,000. Marshall Wace LLP purchased a new position in shares of NextNav in the second quarter worth about $1,571,000. Wolf Hill Capital Management LP lifted its stake in shares of NextNav by 14.6% in the 2nd quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company’s stock valued at $17,218,000 after acquiring an additional 269,754 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in NextNav during the 2nd quarter valued at about $404,000. Finally, Main Street Financial Solutions LLC boosted its holdings in NextNav by 102.5% during the 2nd quarter. Main Street Financial Solutions LLC now owns 60,250 shares of the company’s stock valued at $489,000 after acquiring an additional 30,500 shares during the period. Institutional investors own 79.16% of the company’s stock.

NextNav Trading Up 3.1 %

Shares of NN opened at $8.25 on Friday. The stock has a market capitalization of $1.04 billion, a P/E ratio of -9.71 and a beta of 1.06. NextNav Inc. has a twelve month low of $3.55 and a twelve month high of $9.50. The company has a quick ratio of 5.93, a current ratio of 5.93 and a debt-to-equity ratio of 0.80. The firm has a fifty day simple moving average of $7.46 and a two-hundred day simple moving average of $7.80.

NextNav (NASDAQ:NN) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The business had revenue of $1.11 million for the quarter, compared to the consensus estimate of $1.63 million. NextNav had a negative net margin of 2,181.52% and a negative return on equity of 134.05%. During the same period in the previous year, the company earned ($0.15) EPS. On average, research analysts anticipate that NextNav Inc. will post -0.81 EPS for the current year.

Insider Activity at NextNav

In other news, Director Neil S. Subin bought 100,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $6.92 per share, with a total value of $692,000.00. Following the transaction, the director now owns 2,365,213 shares of the company’s stock, valued at approximately $16,367,273.96. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NextNav news, Director Neil S. Subin acquired 125,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average price of $6.93 per share, with a total value of $866,250.00. Following the completion of the purchase, the director now directly owns 2,490,213 shares of the company’s stock, valued at approximately $17,257,176.09. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Neil S. Subin acquired 100,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $6.92 per share, for a total transaction of $692,000.00. Following the acquisition, the director now owns 2,365,213 shares of the company’s stock, valued at approximately $16,367,273.96. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 11.30% of the stock is owned by corporate insiders.

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.