DigitalBridge Group Inc. Trims Stock Position in NextNav Inc. (NASDAQ:NN)

DigitalBridge Group Inc. lowered its position in shares of NextNav Inc. (NASDAQ:NN - Free Report) by 40.7% in the fourth quarter, according to its most recent filing 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE purchased a new stake in NextNav in the fourth quarter valued at approximately $28,000. Russell Investments Group Ltd. grew 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 worth $30,000 after acquiring an additional 1,018 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of NextNav in the fourth quarter worth $78,000. Mission Wealth Management LP acquired a new position in shares of NextNav in the fourth quarter worth $156,000. Finally, Wharton Business Group LLC acquired a new position in shares of NextNav in the fourth quarter worth $156,000. Institutional investors and hedge funds own 79.16% of the company's stock.

Insider Buying and Selling

In related news, CEO Mariam Sorond sold 62,868 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $11.23, for a total transaction of $706,007.64. Following the completion of the transaction, the chief executive officer now owns 1,550,358 shares in the company, valued at approximately $17,410,520.34. The trade was a 3.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Sammaad Shams sold 4,005 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $11.21, for a total transaction of $44,896.05. Following the completion of the sale, the chief accounting officer now directly owns 81,100 shares of the company's stock, 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 quarter, insiders sold 72,705 shares of company stock worth $816,495. Corporate insiders own 7.70% of the company's stock.

NextNav Stock Down 3.4%

Shares of NASDAQ:NN traded down $0.45 during trading on Wednesday, hitting $12.76. The company's stock had a trading volume of 756,017 shares, compared to its average volume of 1,068,499. The business has a 50 day moving average price of $12.51 and a two-hundred day moving average price of $13.28. The company has a market capitalization of $1.69 billion, a PE ratio of -17.01 and a beta of 1.03. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.01 and a current ratio of 5.01. NextNav Inc. has a fifty-two week low of $6.47 and a fifty-two week 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 business had revenue of $1.54 million during the quarter, compared to analyst estimates of $1.87 million. NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. As a group, research analysts expect that NextNav Inc. will post -0.74 EPS 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.