Principal Financial Group Inc. Invests $82,000 in NextNav Inc. (NASDAQ:NN)

Principal Financial Group Inc. acquired a new stake in NextNav Inc. (NASDAQ:NN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 10,134 shares of the company’s stock, valued at approximately $82,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NN. Raymond James & Associates increased its position in shares of NextNav by 1.0% during the 2nd quarter. Raymond James & Associates now owns 156,000 shares of the company’s stock worth $1,265,000 after purchasing an additional 1,500 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in shares of NextNav by 9.4% in the 1st quarter. Perigon Wealth Management LLC now owns 35,000 shares of the company’s stock valued at $230,000 after purchasing an additional 3,000 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in NextNav by 34.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,025 shares of the company’s stock valued at $113,000 after purchasing an additional 4,405 shares during the last quarter. PEAK6 Investments LLC grew its holdings in NextNav by 31.0% during the first quarter. PEAK6 Investments LLC now owns 42,131 shares of the company’s stock worth $277,000 after purchasing an additional 9,976 shares during the period. Finally, Blair William & Co. IL increased its position in NextNav by 25.0% during the first quarter. Blair William & Co. IL now owns 50,000 shares of the company’s stock worth $329,000 after buying an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 79.16% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Joseph D. Samberg purchased 181,000 shares of the stock in a transaction on Thursday, June 20th. The shares were purchased at an average cost of $7.30 per share, with a total value of $1,321,300.00. Following the acquisition, the insider now directly owns 9,881,450 shares in the company, valued at $72,134,585. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other NextNav news, major shareholder Joseph D. Samberg purchased 81,200 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were acquired at an average cost of $7.83 per share, with a total value of $635,796.00. Following the completion of the transaction, the insider now owns 10,000,200 shares in the company, valued at $78,301,566. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Joseph D. Samberg acquired 181,000 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was acquired at an average price of $7.30 per share, with a total value of $1,321,300.00. Following the purchase, the insider now directly owns 9,881,450 shares in the company, valued at $72,134,585. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 487,200 shares of company stock valued at $3,515,346. Company insiders own 15.70% of the company’s stock.

NextNav Stock Performance

NN opened at $7.74 on Tuesday. The company has a quick ratio of 5.93, a current ratio of 5.93 and a debt-to-equity ratio of 0.80. NextNav Inc. has a 12-month low of $3.55 and a 12-month high of $9.50. The business has a 50 day moving average of $7.73 and a 200-day moving average of $7.43. The stock has a market cap of $947.63 million, a price-to-earnings ratio of -9.80 and a beta of 1.06.

NextNav (NASDAQ:NN) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.07). NextNav had a negative net margin of 2,181.52% and a negative return on equity of 134.05%. The business had revenue of $1.11 million for the quarter, compared to analyst estimates of $1.63 million. During the same period in the prior year, the business earned ($0.15) EPS. On average, equities research analysts expect that NextNav Inc. will post -0.81 earnings per share for the current year.

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.