CenterBook Partners LP Reduces Position in NextNav Inc. (NASDAQ:NN)

CenterBook Partners LP cut its stake in NextNav Inc. (NASDAQ:NN - Free Report) by 69.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,451 shares of the company's stock after selling 226,199 shares during the quarter. CenterBook Partners LP owned about 0.08% of NextNav worth $1,532,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in NextNav during the 4th quarter valued at $231,000. Legal & General Group Plc raised its holdings in shares of NextNav by 15.5% during the fourth quarter. Legal & General Group Plc now owns 46,961 shares of the company's stock worth $731,000 after acquiring an additional 6,292 shares in the last quarter. Invesco Ltd. boosted its holdings in NextNav by 2,461.2% in the fourth quarter. Invesco Ltd. now owns 712,385 shares of the company's stock worth $11,085,000 after purchasing an additional 684,571 shares in the last quarter. Federated Hermes Inc. acquired a new position in NextNav in the 4th quarter valued at $3,742,000. Finally, Russell Investments Group Ltd. lifted 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 worth $30,000 after buying an additional 1,018 shares during the last quarter. Institutional investors and hedge funds own 79.16% of the company's stock.

NextNav Price Performance

Shares of NN traded down $0.08 during mid-day trading on Wednesday, reaching $11.98. The company had a trading volume of 316,334 shares, compared to its average volume of 1,049,375. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01. The company has a market capitalization of $1.57 billion, a P/E ratio of -15.97 and a beta of 1.03. The company's 50-day moving average is $11.71 and its 200-day moving average is $12.69. NextNav Inc. has a twelve month low of $6.47 and a twelve month high of $18.54.

NextNav (NASDAQ:NN - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The company reported ($0.25) earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $1.73 million. On average, equities analysts anticipate that NextNav Inc. will post -0.74 EPS for the current year.

Insiders Place Their Bets

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

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.