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

Rhumbline Advisers raised its holdings in shares of NextNav Inc. (NASDAQ:NN) by 27.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,536 shares of the company’s stock after buying an additional 20,796 shares during the period. Rhumbline Advisers owned about 0.08% of NextNav worth $775,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NN. Vanguard Group Inc. lifted its position in shares of 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 lifted its holdings in 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. boosted its stake in NextNav by 33.2% in the 4th quarter. General American Investors Co. Inc. now owns 1,666,915 shares of the company’s stock worth $7,418,000 after purchasing an additional 415,554 shares during the period. Jump Financial LLC purchased a new stake in NextNav during the 4th quarter valued at approximately $73,000. Finally, PEAK6 Investments LLC raised its position in shares of NextNav by 31.0% during the first quarter. PEAK6 Investments LLC now owns 42,131 shares of the company’s stock valued at $277,000 after buying an additional 9,976 shares during the last quarter. 79.16% of the stock is owned by hedge funds and other institutional investors.

NextNav Price Performance

NN stock opened at $6.99 on Tuesday. The company has a market capitalization of $855.81 million, a PE ratio of -8.85 and a beta of 1.06. The company’s fifty day moving average price is $7.62 and its 200-day moving average price is $7.56. NextNav Inc. has a one year low of $3.55 and a one year high of $9.50. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.93 and a current ratio of 5.93.

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

Insider Activity

In other news, Director Neil S. Subin acquired 125,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was purchased at an average price of $6.93 per share, for a total transaction of $866,250.00. Following the completion of the transaction, the director now directly owns 2,490,213 shares in the company, valued at approximately $17,257,176.09. The acquisition was disclosed in a filing with the SEC, which is available through this link. In related news, Director Neil S. Subin purchased 125,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was bought at an average price of $6.93 per share, for a total transaction of $866,250.00. Following the completion of the transaction, the director now owns 2,490,213 shares in the company, valued at approximately $17,257,176.09. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Neil S. Subin purchased 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $6.92 per share, with a total value of $692,000.00. Following the transaction, the director now owns 2,365,213 shares of the company’s stock, valued at approximately $16,367,273.96. The disclosure for this purchase can be found here. Company insiders own 15.70% of the company’s stock.

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.