NextNav Inc. (NASDAQ:NN) Stock Position Raised by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its holdings in shares of NextNav Inc. (NASDAQ:NN) by 39.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,857 shares of the company’s stock after buying an additional 8,466 shares during the period. The Manufacturers Life Insurance Company’s holdings in NextNav were worth $242,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NN. Perigon Wealth Management LLC boosted its stake in NextNav by 9.4% during the 1st quarter. Perigon Wealth Management LLC now owns 35,000 shares of the company’s stock valued at $230,000 after purchasing an additional 3,000 shares during the period. Blair William & Co. IL boosted its stake in NextNav by 25.0% during the 1st quarter. Blair William & Co. IL now owns 50,000 shares of the company’s stock valued at $329,000 after purchasing an additional 10,000 shares during the period. Vanguard Group Inc. boosted its stake in NextNav by 37.7% during the 1st quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock valued at $21,307,000 after purchasing an additional 887,075 shares during the period. Wolf Hill Capital Management LP acquired a new position in NextNav during the 1st quarter valued at about $12,195,000. Finally, PEAK6 Investments LLC boosted its stake in NextNav by 31.0% during the 1st quarter. PEAK6 Investments LLC now owns 42,131 shares of the company’s stock valued at $277,000 after purchasing an additional 9,976 shares during the period. Institutional investors own 79.16% of the company’s stock.

NextNav Trading Up 6.1 %

NextNav stock opened at $8.75 on Friday. 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 50-day moving average price of $7.48 and a two-hundred day moving average price of $7.82. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -10.29 and a beta of 1.06. NextNav Inc. has a 52-week low of $3.55 and a 52-week high of $9.50.

NextNav (NASDAQ:NN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The company had revenue of $1.11 million during the quarter, compared to analyst estimates of $1.63 million. NextNav had a negative return on equity of 134.05% and a negative net margin of 2,181.52%. During the same period in the prior year, the company posted ($0.15) earnings per share. Sell-side analysts expect that NextNav Inc. will post -0.81 earnings per share for the current year.

Insider Transactions at NextNav

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