Cadence Bank Buys Shares of 41,000 NextNav Inc. (NASDAQ:NN)

Cadence Bank bought a new position in NextNav Inc. (NASDAQ:NN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 41,000 shares of the company's stock, valued at approximately $638,000.

Other large investors also recently made changes to their positions in the company. US Bancorp DE acquired a new position in NextNav during the 4th quarter valued at about $28,000. Russell Investments Group Ltd. raised its holdings in NextNav by 112.5% during the fourth quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company's stock worth $30,000 after purchasing an additional 1,018 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in NextNav in the fourth quarter worth approximately $78,000. FMR LLC boosted its stake in NextNav by 354.3% during the 3rd quarter. FMR LLC now owns 16,418 shares of the company's stock valued at $123,000 after purchasing an additional 12,804 shares in the last quarter. Finally, Wharton Business Group LLC acquired a new position in shares of NextNav during the 4th quarter valued at $156,000. Institutional investors and hedge funds own 79.16% of the company's stock.

Insiders Place Their Bets

In other NextNav news, CEO Mariam Sorond sold 62,868 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $11.23, for a total value of $706,007.64. Following the completion of the transaction, the chief executive officer now directly owns 1,550,358 shares in the company, valued at $17,410,520.34. This trade represents a 3.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Sammaad Shams sold 4,005 shares of NextNav stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $11.21, for a total transaction of $44,896.05. Following the completion of the transaction, the chief accounting officer now directly owns 81,100 shares in the company, valued at approximately $909,131. This trade represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,705 shares of company stock worth $816,495. 15.70% of the stock is owned by insiders.

NextNav Price Performance

Shares of NN traded up $0.73 during midday trading on Thursday, reaching $11.81. The stock had a trading volume of 363,767 shares, compared to its average volume of 1,367,142. The firm's 50 day moving average price is $11.63 and its 200-day moving average price is $12.81. NextNav Inc. has a 52 week low of $6.47 and a 52 week high of $18.54. The company has a market capitalization of $1.56 billion, a P/E ratio of -15.74 and a beta of 1.03. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01.

NextNav (NASDAQ:NN - Get Free Report) last posted its quarterly earnings data on Wednesday, March 12th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.10). NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. The business had revenue of $1.91 million for the quarter, compared to the consensus estimate of $1.73 million. On average, analysts forecast that NextNav Inc. will post -0.74 earnings per share for the current fiscal year.

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.