Wolf Hill Capital Management LP Acquires 269,754 Shares of NextNav Inc. (NASDAQ:NN)

Wolf Hill Capital Management LP raised its stake in shares of NextNav Inc. (NASDAQ:NN) by 14.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,123,062 shares of the company’s stock after acquiring an additional 269,754 shares during the quarter. NextNav makes up about 1.7% of Wolf Hill Capital Management LP’s portfolio, making the stock its 14th biggest position. Wolf Hill Capital Management LP owned approximately 1.68% of NextNav worth $17,218,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in NextNav by 37.7% in the first quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock valued at $21,307,000 after acquiring an additional 887,075 shares in the last quarter. Bank of New York Mellon Corp boosted its position 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 in the last quarter. General American Investors Co. Inc. grew its stake in NextNav by 33.2% during the 4th quarter. General American Investors Co. Inc. now owns 1,666,915 shares of the company’s stock worth $7,418,000 after buying an additional 415,554 shares during the last quarter. Jump Financial LLC acquired a new position in NextNav during the 4th quarter valued at about $73,000. Finally, Swiss National Bank purchased a new stake in NextNav in the fourth quarter valued at about $335,000. 79.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NextNav

In other news, major shareholder Joseph D. Samberg acquired 81,200 shares of NextNav stock in a transaction dated Monday, June 24th. The stock was purchased at an average cost of $7.83 per share, for a total transaction of $635,796.00. Following the completion of the purchase, the insider now directly owns 10,000,200 shares in the company, valued at approximately $78,301,566. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other NextNav news, major shareholder Joseph D. Samberg acquired 81,200 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were purchased at an average price of $7.83 per share, for a total transaction of $635,796.00. Following the completion of the purchase, the insider now directly owns 10,000,200 shares of the company’s stock, valued at $78,301,566. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Neil S. Subin bought 125,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average price of $6.93 per share, with a total value of $866,250.00. Following the completion of the transaction, the director now directly owns 2,490,213 shares of the company’s stock, valued at $17,257,176.09. The disclosure for this purchase can be found here. Insiders have bought a total of 306,200 shares of company stock valued at $2,194,046 in the last ninety days. Company insiders own 15.70% of the company’s stock.

NextNav Price Performance

Shares of NASDAQ NN opened at $7.69 on Friday. NextNav Inc. has a fifty-two week low of $3.55 and a fifty-two week high of $9.50. The company has a market cap of $941.51 million, a PE ratio of -9.73 and a beta of 1.06. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.93 and a current ratio of 5.93. The business has a 50-day simple moving average of $7.67 and a two-hundred day simple moving average of $7.48.

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