NextNav Inc. (NASDAQ:NN) Shares Sold by DigitalBridge Group Inc.

DigitalBridge Group Inc. reduced its holdings in shares of NextNav Inc. (NASDAQ:NN - Free Report) by 40.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,498 shares of the company's stock after selling 79,995 shares during the period. DigitalBridge Group Inc. owned 0.09% of NextNav worth $1,813,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. US Bancorp DE purchased a new position in NextNav in the fourth quarter worth about $28,000. Russell Investments Group Ltd. raised its holdings in 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. Golden State Wealth Management LLC purchased a new position in NextNav in the fourth quarter worth about $78,000. Mission Wealth Management LP purchased a new position in NextNav in the fourth quarter worth about $156,000. Finally, Wharton Business Group LLC purchased a new position in NextNav in the fourth quarter worth about $156,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

NextNav Stock Up 6.2%

NextNav stock traded up $0.77 during trading hours on Tuesday, hitting $13.21. The stock had a trading volume of 897,703 shares, compared to its average volume of 1,069,749. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $1.75 billion, a P/E ratio of -17.61 and a beta of 1.03. NextNav Inc. has a 12-month low of $6.47 and a 12-month high of $18.54. The stock's 50-day moving average price is $12.51 and its 200-day moving average price is $13.28.

NextNav (NASDAQ:NN - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. The company had revenue of $1.54 million for the quarter, compared to analysts' expectations of $1.87 million. Equities research analysts anticipate that NextNav Inc. will post -0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Christian D. Gates sold 5,730 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $11.24, for a total value of $64,405.20. Following the completion of the sale, the chief financial officer now owns 857,206 shares in the company, valued at approximately $9,634,995.44. This trade represents a 0.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mariam Sorond sold 62,868 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $11.23, for a total transaction of $706,007.64. Following the completion of the sale, the chief executive officer now 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 position. The disclosure for this sale can be found here. Insiders sold a total of 72,705 shares of company stock worth $816,495 over the last three months. 7.70% of the stock is currently owned by company insiders.

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.