421,721 Shares in NextNav Inc. $NN Purchased by Troluce Capital Advisors LLC

Key Points

• Troluce Capital Advisors LLC acquired 421,721 shares of NextNav Inc. for approximately $5.1 million, making it the firm’s 13th largest position.
• CEO Mariam Sorond sold 69,853 shares at an average price of $14.38, reducing her ownership by 4.51% to approximately $21.3 million.
• NextNav's stock has experienced volatility, currently trading at $17.81, with a twelve-month low of $6.75 and a high of $18.54.

Troluce Capital Advisors LLC purchased a new position in shares of NextNav Inc. (NASDAQ:NN - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 421,721 shares of the company's stock, valued at approximately $5,132,000. NextNav makes up about 1.5% of Troluce Capital Advisors LLC's investment portfolio, making the stock its 13th largest position. Troluce Capital Advisors LLC owned 0.32% of NextNav at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Cambridge Investment Research Advisors Inc. lifted its stake in shares of NextNav by 94.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 70,971 shares of the company's stock worth $864,000 after buying an additional 34,481 shares during the period. SG Americas Securities LLC lifted its stake in shares of NextNav by 52.2% during the first quarter. SG Americas Securities LLC now owns 54,218 shares of the company's stock worth $660,000 after buying an additional 18,606 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of NextNav during the first quarter worth $73,000. Millennium Management LLC lifted its stake in shares of NextNav by 43.5% during the fourth quarter. Millennium Management LLC now owns 235,987 shares of the company's stock worth $3,672,000 after buying an additional 71,559 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of NextNav by 23.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,130 shares of the company's stock worth $469,000 after buying an additional 5,807 shares during the period. 79.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other NextNav news, CEO Mariam Sorond sold 69,853 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $14.38, for a total value of $1,004,486.14. Following the transaction, the chief executive officer owned 1,480,505 shares in the company, valued at approximately $21,289,661.90. This trade represents a 4.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 7.70% of the company's stock.

NextNav Price Performance

Shares of NN stock traded down $0.46 on Thursday, reaching $15.87. 3,050,507 shares of the company were exchanged, compared to its average volume of 1,340,707. 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 business has a 50-day moving average price of $15.53 and a 200 day moving average price of $13.41. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -12.30 and a beta of 1.05. NextNav Inc. has a 1 year low of $6.75 and a 1 year high of $18.54.

NextNav (NASDAQ:NN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.16). The firm had revenue of $1.20 million for the quarter, compared to analysts' expectations of $1.59 million. NextNav had a negative return on equity of 556.83% and a negative net margin of 2,678.59%. Equities research analysts forecast that NextNav Inc. will post -0.74 earnings per share 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.