Insider Buying: NextNav Inc. (NASDAQ:NN) Major Shareholder Purchases 200,000 Shares of Stock

NextNav Inc. (NASDAQ:NN – Get Rating) major shareholder Timothy M. Presutti acquired 200,000 shares of the stock in a transaction dated Monday, June 13th. The stock was bought at an average cost of $2.32 per share, with a total value of $464,000.00. Following the completion of the purchase, the insider now owns 11,266,004 shares of the company’s stock, valued at $26,137,129.28. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of NextNav stock opened at $2.57 on Thursday. The business’s fifty day simple moving average is $5.11 and its 200 day simple moving average is $6.71. NextNav Inc. has a 12 month low of $2.13 and a 12 month high of $15.32.

NextNav (NASDAQ:NN – Get Rating) last announced its earnings results on Wednesday, March 23rd. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.50). The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $1.23 million. Research analysts anticipate that NextNav Inc. will post -0.46 EPS for the current year.

Several large investors have recently bought and sold shares of NN. Goldman Sachs Group Inc. purchased a new stake in NextNav in the 4th quarter worth about $78,415,000. Oak Management Corp bought a new position in NextNav in the 4th quarter worth approximately $50,728,000. B. Riley Financial Inc. grew its stake in NextNav by 5,981.3% in the 1st quarter. B. Riley Financial Inc. now owns 608,125 shares of the company’s stock valued at $4,555,000 after buying an additional 598,125 shares in the last quarter. American Financial Group Inc. bought a new stake in NextNav during the 4th quarter valued at $4,380,000. Finally, Geode Capital Management LLC purchased a new stake in shares of NextNav during the fourth quarter worth $1,735,000. 66.47% of the stock is currently owned by institutional investors.

NN has been the subject of a number of analyst reports. R. F. Lafferty lowered their price target on NextNav from $16.00 to $15.00 in a research report on Monday, May 16th. B. Riley dropped their price target on shares of NextNav from $17.00 to $14.25 in a research report on Friday, May 13th.

About NextNav (Get Rating)

NextNav Inc provides next generation global positioning system (GPS) and 3D geolocation services. The company delivers next generation positioning, navigation, and timing solutions through its network-based Pinnacle and TerraPoiNT solutions. Its Pinnacle 3D geolocation service is commercially available in approximately 4,400 cities and towns in the United States; and its TerraPoiNT terrestrial-based encrypted network has deployments in 51 total markets nationally.

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