DigitalBridge Group Inc. Sells 79,995 Shares of NextNav Inc. (NASDAQ:NN)

DigitalBridge Group Inc. cut its holdings in shares of NextNav Inc. (NASDAQ:NN - Free Report) by 40.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 116,498 shares of the company's stock after selling 79,995 shares during the period. DigitalBridge Group Inc. owned approximately 0.09% of NextNav worth $1,813,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of NextNav by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 32,588 shares of the company's stock worth $244,000 after purchasing an additional 616 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of NextNav by 112.5% in 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. The Manufacturers Life Insurance Company boosted its stake in shares of NextNav by 5.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 30,753 shares of the company's stock worth $479,000 after acquiring an additional 1,563 shares in the last quarter. US Bancorp DE acquired a new position in NextNav during the fourth quarter valued at approximately $28,000. Finally, Alliancebernstein L.P. lifted its stake in shares of NextNav by 2.3% in the fourth quarter. Alliancebernstein L.P. now owns 87,760 shares of the company's stock worth $1,366,000 after buying an additional 2,010 shares during the last quarter. 79.16% of the stock is owned by institutional investors.

NextNav Stock Performance

NASDAQ:NN traded down $0.55 during midday trading on Monday, reaching $12.58. The stock had a trading volume of 802,494 shares, compared to its average volume of 1,055,117. 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 firm's fifty day simple moving average is $12.03 and its 200-day simple moving average is $13.23. The stock has a market capitalization of $1.66 billion, a P/E ratio of -16.79 and a beta of 1.03. NextNav Inc. has a 1-year low of $6.47 and a 1-year high of $18.54.

NextNav (NASDAQ:NN - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The firm had revenue of $1.54 million during the quarter, compared to analyst estimates of $1.87 million. NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. On average, equities research analysts forecast that NextNav Inc. will post -0.74 EPS for the current fiscal year.

Insider Transactions at NextNav

In related news, CEO Mariam Sorond sold 62,868 shares of NextNav stock in a transaction that occurred 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 sale, the chief executive officer now owns 1,550,358 shares of the company's stock, valued at approximately $17,410,520.34. This trade represents a 3.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christian D. Gates sold 5,730 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $11.24, for a total value of $64,405.20. Following the transaction, the chief financial officer now directly owns 857,206 shares in the company, valued at $9,634,995.44. This trade represents a 0.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,705 shares of company stock worth $816,495. 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.