Voya Investment Management LLC Sells 1,683 Shares of NextNav Inc. $NN

Voya Investment Management LLC reduced its holdings in NextNav Inc. (NASDAQ:NN) by 7.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,257 shares of the company’s stock after selling 1,683 shares during the quarter. Voya Investment Management LLC’s holdings in NextNav were worth $259,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in NextNav by 17.8% during the first quarter. Vanguard Group Inc. now owns 4,732,231 shares of the company’s stock valued at $57,591,000 after purchasing an additional 715,171 shares during the last quarter. Ancora Advisors LLC lifted its position in shares of NextNav by 11.0% in the first quarter. Ancora Advisors LLC now owns 2,237,736 shares of the company’s stock valued at $27,233,000 after buying an additional 221,486 shares during the last quarter. Empyrean Capital Partners LP lifted its position in shares of NextNav by 21.7% in the first quarter. Empyrean Capital Partners LP now owns 1,685,000 shares of the company’s stock valued at $20,506,000 after buying an additional 300,000 shares during the last quarter. General American Investors Co. Inc. lifted its position in shares of NextNav by 31.0% in the first quarter. General American Investors Co. Inc. now owns 1,120,227 shares of the company’s stock valued at $13,633,000 after buying an additional 265,227 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of NextNav by 32.0% in the first quarter. Invesco Ltd. now owns 940,335 shares of the company’s stock valued at $11,444,000 after buying an additional 227,950 shares during the last quarter. 79.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

NextNav Trading Down 6.0%

Shares of NN opened at $14.78 on Tuesday. NextNav Inc. has a 52-week low of $7.20 and a 52-week high of $18.54. The business’s fifty day moving average is $15.88 and its 200-day moving average is $14.14. The company has a debt-to-equity ratio of 32.42, a quick ratio of 14.97 and a current ratio of 14.97. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -11.46 and a beta of 1.05.

NextNav (NASDAQ:NN) last released its quarterly earnings data 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). NextNav had a negative net margin of 2,678.59% and a negative return on equity of 556.83%. The firm had revenue of $1.20 million for the quarter, compared to analyst estimates of $1.59 million. Equities analysts anticipate that NextNav Inc. will post -0.74 EPS for the current fiscal year.

NextNav Company 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.