M&T Bank Corp Takes Position in NextNav Inc. (NASDAQ:NN)

M&T Bank Corp acquired a new stake in NextNav Inc. (NASDAQ:NN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,222 shares of the company’s stock, valued at approximately $159,000.

Several other hedge funds also recently bought and sold shares of NN. US Bancorp DE bought a new position in NextNav in the 4th quarter valued at $28,000. Golden State Wealth Management LLC bought a new position in NextNav in the 4th quarter valued at $78,000. King Luther Capital Management Corp bought a new position in NextNav in the 3rd quarter valued at $90,000. FMR LLC grew its position in NextNav by 354.3% in the 3rd quarter. FMR LLC now owns 16,418 shares of the company’s stock valued at $123,000 after acquiring an additional 12,804 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in NextNav in the 3rd quarter valued at $125,000. Institutional investors own 79.16% of the company’s stock.

NextNav Stock Performance

Shares of NextNav stock opened at $11.04 on Friday. The stock’s fifty day moving average is $11.90 and its two-hundred day moving average is $11.92. The company has a market capitalization of $1.44 billion, a PE ratio of -14.72 and a beta of 1.17. 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 $3.95 and a 52 week high of $18.54.

NextNav (NASDAQ:NN) last issued its earnings results on Wednesday, March 12th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.10). NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. The firm had revenue of $1.91 million during the quarter, compared to analysts’ expectations of $1.73 million. As a group, analysts expect that NextNav Inc. will post -0.74 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Arun Raghupathy sold 3,332 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $18.32, for a total transaction of $61,042.24. Following the completion of the sale, the senior vice president now directly owns 1,087,019 shares in the company, valued at $19,914,188.08. This represents a 0.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Christian D. Gates sold 3,918 shares of the company’s stock in a transaction on 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 owns 815,722 shares of the company’s stock, valued at $14,397,493.30. This trade represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,908 shares of company stock worth $141,851. 11.30% of the stock is currently owned by company insiders.

NextNav 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.