Verition Fund Management LLC Sells 13,919 Shares of NextNav Inc. (NASDAQ:NN)

Verition Fund Management LLC reduced its position in NextNav Inc. (NASDAQ:NN) by 31.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,681 shares of the company’s stock after selling 13,919 shares during the period. Verition Fund Management LLC’s holdings in NextNav were worth $222,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. nVerses Capital LLC purchased a new position in NextNav in the second quarter valued at $50,000. Principal Financial Group Inc. acquired a new stake in shares of NextNav during the 2nd quarter valued at about $82,000. Quest Partners LLC purchased a new position in shares of NextNav in the 2nd quarter valued at about $88,000. King Luther Capital Management Corp acquired a new position in NextNav in the 3rd quarter worth about $90,000. Finally, Wolverine Asset Management LLC boosted its position in NextNav by 323.6% during the second quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company’s stock worth $98,000 after purchasing an additional 9,248 shares in the last quarter. 79.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, B. Riley boosted their price objective on NextNav from $12.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, November 14th.

Insider Activity at NextNav

In other NextNav news, CEO Mariam Sorond sold 200,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $16.40, for a total value of $3,280,000.00. Following the completion of the sale, the chief executive officer now owns 1,574,117 shares in the company, valued at approximately $25,815,518.80. This represents a 11.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 201,459 shares of company stock valued at $3,300,854. 15.70% of the stock is owned by corporate insiders.

NextNav Stock Performance

NN opened at $16.79 on Monday. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -22.39 and a beta of 1.13. The firm’s fifty day simple moving average is $13.18 and its two-hundred day simple moving average is $9.64. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81. NextNav Inc. has a 52-week low of $3.55 and a 52-week high of $18.10.

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.