Barclays PLC Buys 66,039 Shares of NextNav Inc. (NASDAQ:NN)

Barclays PLC boosted its stake in NextNav Inc. (NASDAQ:NN) by 29.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 291,964 shares of the company’s stock after purchasing an additional 66,039 shares during the period. Barclays PLC owned approximately 0.23% of NextNav worth $2,187,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James & Associates grew its stake in shares of NextNav by 1.0% during the 2nd quarter. Raymond James & Associates now owns 156,000 shares of the company’s stock valued at $1,265,000 after purchasing an additional 1,500 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of NextNav by 47.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 217,143 shares of the company’s stock worth $1,761,000 after purchasing an additional 70,343 shares during the period. Principal Financial Group Inc. purchased a new position in shares of NextNav in the second quarter worth approximately $82,000. Ingalls & Snyder LLC grew its position in NextNav by 20.7% during the second quarter. Ingalls & Snyder LLC now owns 296,900 shares of the company’s stock valued at $2,408,000 after buying an additional 51,000 shares during the period. Finally, nVerses Capital LLC purchased a new stake in NextNav during the second quarter valued at approximately $50,000. 79.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, B. Riley lifted their price target on shares of NextNav from $12.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th.

Insider Activity at NextNav

In related news, CFO Christian D. Gates sold 3,918 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $17.65, for a total transaction of $69,152.70. Following the completion of the sale, the chief financial officer now owns 815,722 shares in the company, valued at approximately $14,397,493.30. This trade represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mariam Sorond sold 200,000 shares of NextNav stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 1,574,117 shares in the company, valued at $25,815,518.80. This trade represents a 11.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,367 shares of company stock worth $3,442,705. 15.70% of the stock is owned by company insiders.

NextNav Stock Performance

Shares of NN opened at $14.92 on Thursday. The business has a 50-day simple moving average of $14.37 and a two-hundred day simple moving average of $10.06. 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 $18.54. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -19.89 and a beta of 1.13.

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.