LPL Financial LLC Boosts Stock Position in NextNav Inc. $NN

LPL Financial LLC boosted its holdings in shares of NextNav Inc. (NASDAQ:NN) by 8.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 171,821 shares of the company’s stock after purchasing an additional 12,718 shares during the period. LPL Financial LLC owned about 0.13% of NextNav worth $2,091,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. raised its holdings in shares of NextNav by 112.5% during the fourth quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company’s stock valued at $30,000 after acquiring an additional 1,018 shares in the last quarter. Harbor Investment Advisory LLC boosted its holdings in NextNav by 331.0% in the first quarter. Harbor Investment Advisory LLC now owns 2,155 shares of the company’s stock valued at $26,000 after acquiring an additional 1,655 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in NextNav during the 1st quarter valued at $73,000. Golden State Wealth Management LLC raised its holdings in NextNav by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 10,000 shares of the company’s stock worth $122,000 after purchasing an additional 5,000 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of NextNav by 1,754.6% during the 1st quarter. GAMMA Investing LLC now owns 10,052 shares of the company’s stock valued at $122,000 after purchasing an additional 9,510 shares in the last quarter. Hedge funds and other institutional investors own 79.16% of the company’s stock.

NextNav Trading Down 4.5%

NextNav stock opened at $14.08 on Wednesday. NextNav Inc. has a 12 month low of $6.47 and a 12 month high of $18.54. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -10.91 and a beta of 1.04. The business’s fifty day simple moving average is $14.97 and its two-hundred day simple moving average is $13.07. The company has a current ratio of 14.97, a quick ratio of 14.97 and a debt-to-equity ratio of 32.42.

NextNav (NASDAQ:NN) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.16). The company had revenue of $1.20 million for the quarter, compared to the consensus estimate of $1.59 million. NextNav had a negative net margin of 2,678.59% and a negative return on equity of 556.83%. As a group, equities analysts predict that NextNav Inc. will post -0.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of NextNav to a “strong sell” rating in a research note on Friday, August 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, NextNav has an average rating of “Hold” and a consensus price target of $20.00.

Insider Transactions at NextNav

In other news, CEO Mariam Sorond sold 69,853 shares of the company’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $14.38, for a total value of $1,004,486.14. Following the transaction, the chief executive officer owned 1,480,505 shares in the company, valued at approximately $21,289,661.90. This represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 7.70% of the company’s stock.

About NextNav

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.