Rhumbline Advisers Increases Position in NextNav Inc. (NASDAQ:NN)

Rhumbline Advisers lifted its holdings in NextNav Inc. (NASDAQ:NN) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,516 shares of the company’s stock after purchasing an additional 3,075 shares during the period. Rhumbline Advisers owned about 0.08% of NextNav worth $1,548,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in NextNav by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 32,588 shares of the company’s stock worth $244,000 after buying an additional 616 shares in the last quarter. Van ECK Associates Corp increased its stake in NextNav by 10.0% during the 3rd quarter. Van ECK Associates Corp now owns 21,412 shares of the company’s stock worth $160,000 after buying an additional 1,948 shares in the last quarter. Ingalls & Snyder LLC increased its stake in NextNav by 1.5% during the 4th quarter. Ingalls & Snyder LLC now owns 301,400 shares of the company’s stock worth $4,690,000 after buying an additional 4,500 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in NextNav during the 4th quarter worth approximately $78,000. Finally, SG Americas Securities LLC increased its stake in NextNav by 30.2% during the 4th quarter. SG Americas Securities LLC now owns 35,612 shares of the company’s stock worth $554,000 after buying an additional 8,264 shares in the last quarter. Hedge funds and other institutional investors own 79.16% of the company’s stock.

Analysts Set New Price Targets

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

NextNav Trading Down 5.5 %

Shares of NextNav stock opened at $9.40 on Wednesday. The stock has a market cap of $1.23 billion, a P/E ratio of -12.53 and a beta of 1.13. The stock’s 50 day simple moving average is $12.85 and its 200-day simple moving average is $11.73. NextNav Inc. has a 1-year low of $3.55 and a 1-year high of $18.54. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01.

Insider Transactions at NextNav

In related news, SVP Arun Raghupathy sold 3,332 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $18.32, for a total value of $61,042.24. Following the transaction, the senior vice president now directly owns 1,087,019 shares in the company, valued at approximately $19,914,188.08. This represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christian D. Gates sold 3,918 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $17.65, for a total value of $69,152.70. Following the completion of the transaction, the chief financial officer now owns 815,722 shares in the company, valued at $14,397,493.30. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,908 shares of company stock worth $141,851 in the last ninety days. Insiders own 15.70% 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.