Fairway Wealth LLC Takes Position in NextNav Inc. (NASDAQ:NN)

Fairway Wealth LLC bought a new position in shares of NextNav Inc. (NASDAQ:NN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 100,000 shares of the company's stock, valued at approximately $1,217,000. Fairway Wealth LLC owned approximately 0.08% of NextNav at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of NN. Russell Investments Group Ltd. increased its stake 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 valued at $30,000 after buying an additional 1,018 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in NextNav by 5.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 30,753 shares of the company's stock valued at $479,000 after acquiring an additional 1,563 shares during 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 during the last quarter. US Bancorp DE bought a new stake in NextNav in the fourth quarter valued at approximately $28,000. Finally, Perigon Wealth Management LLC boosted its holdings in NextNav by 5.6% in the first quarter. Perigon Wealth Management LLC now owns 38,000 shares of the company's stock valued at $462,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 79.16% of the company's stock.

Insider Buying and Selling 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 stock was sold at an average price of $14.38, for a total transaction of $1,004,486.14. Following the transaction, the chief executive officer directly owned 1,480,505 shares of the company's stock, valued at $21,289,661.90. This represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.70% of the stock is owned by insiders.

NextNav Trading Up 2.0%

NN stock traded up $0.32 during trading on Monday, hitting $16.25. The company had a trading volume of 2,034,383 shares, compared to its average volume of 1,141,714. The business has a 50-day moving average of $13.42 and a 200-day moving average of $12.76. NextNav Inc. has a one year low of $6.47 and a one year high of $18.54. The stock has a market cap of $2.15 billion, a PE ratio of -15.93 and a beta of 1.05. The company has a current ratio of 16.75, a quick ratio of 16.75 and a debt-to-equity ratio of 32.42.

NextNav (NASDAQ:NN - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). The business had revenue of $1.54 million for the quarter, compared to the consensus estimate of $1.87 million. NextNav had a negative return on equity of 193.20% and a negative net margin of 2,091.01%. Research analysts predict that NextNav Inc. will post -0.74 earnings per share for the current fiscal year.

NextNav 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.