Oppenheimer & Co. Inc. Boosts Stake in NextNav Inc. (NASDAQ:NN)

Oppenheimer & Co. Inc. raised its holdings in shares of NextNav Inc. (NASDAQ:NN) by 170.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,000 shares of the company’s stock after buying an additional 17,000 shares during the period. Oppenheimer & Co. Inc.’s holdings in NextNav were worth $420,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in NextNav by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 32,588 shares of the company’s stock valued at $244,000 after purchasing an additional 616 shares during the period. Van ECK Associates Corp boosted its stake in shares of NextNav by 10.0% during the third quarter. Van ECK Associates Corp now owns 21,412 shares of the company’s stock valued at $160,000 after purchasing an additional 1,948 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of NextNav by 3.2% during the fourth quarter. Rhumbline Advisers now owns 99,516 shares of the company’s stock valued at $1,548,000 after purchasing an additional 3,075 shares in the last quarter. Ingalls & Snyder LLC increased its holdings in NextNav by 1.5% during the fourth quarter. Ingalls & Snyder LLC now owns 301,400 shares of the company’s stock valued at $4,690,000 after buying an additional 4,500 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in NextNav in the fourth quarter worth approximately $78,000. Institutional investors own 79.16% of the company’s stock.

Insider Buying and Selling

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 firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $17.65, for a total value of $69,152.70. Following the sale, the chief financial officer now directly owns 815,722 shares of the company’s stock, valued at $14,397,493.30. The trade was a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,908 shares of company stock worth $141,851. 15.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

NextNav Stock Performance

Shares of NASDAQ NN opened at $10.76 on Friday. The company has a market capitalization of $1.40 billion, a PE ratio of -14.35 and a beta of 1.17. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.01 and a current ratio of 5.01. The company’s fifty day moving average price is $12.44 and its 200 day moving average price is $11.76. NextNav Inc. has a 1 year low of $3.62 and a 1 year high of $18.54.

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.