Fleming James B JR Has $59.63 Million Stock Holdings in NextNav Inc. $NN

Key Points

• Fleming James B JR reduced its stake in NextNav Inc. by 22.6% during Q2, now holding approximately 3.92 million shares, valued at $59.63 million.
• 79.16% of NextNav's stock is held by institutional investors, indicating significant interest from larger financial entities.
• NextNav reported a loss of ($0.30) EPS for the quarter, missing analyst estimates and showing a negative net margin of 2,678.59%.

Fleming James B JR lowered its holdings in shares of NextNav Inc. (NASDAQ:NN - Free Report) by 22.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,923,143 shares of the company's stock after selling 1,142,975 shares during the quarter. NextNav accounts for about 97.4% of Fleming James B JR's portfolio, making the stock its biggest position. Fleming James B JR owned about 2.96% of NextNav worth $59,632,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NN. Interval Partners LP bought a new position in NextNav in the first quarter valued at approximately $9,827,000. Vanguard Group Inc. lifted its position in NextNav by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 4,732,231 shares of the company's stock valued at $57,591,000 after acquiring an additional 715,171 shares in the last quarter. Troluce Capital Advisors LLC bought a new stake in NextNav in the 1st quarter valued at $5,132,000. Epoch Investment Partners Inc. boosted its stake in NextNav by 220.7% in the 1st quarter. Epoch Investment Partners Inc. now owns 449,272 shares of the company's stock worth $5,468,000 after purchasing an additional 309,175 shares during the period. Finally, Empyrean Capital Partners LP increased its holdings in NextNav by 21.7% during the 1st quarter. Empyrean Capital Partners LP now owns 1,685,000 shares of the company's stock worth $20,506,000 after purchasing an additional 300,000 shares in the last quarter. 79.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded NextNav to a "strong sell" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $20.00.

NextNav Trading Down 0.2%

Shares of NASDAQ:NN opened at $14.27 on Thursday. The company's 50-day moving average price is $15.84 and its two-hundred day moving average price is $14.15. NextNav Inc. has a one year low of $7.41 and a one year high of $18.54. The company has a debt-to-equity ratio of 32.42, a current ratio of 14.97 and a quick ratio of 14.97. The stock has a market capitalization of $1.92 billion, a PE ratio of -11.06 and a beta of 1.00.

NextNav (NASDAQ:NN - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.16). NextNav had a negative net margin of 2,678.59% and a negative return on equity of 556.83%. The company had revenue of $1.20 million during the quarter, compared to analyst estimates of $1.59 million. On average, equities analysts forecast that NextNav Inc. will post -0.74 EPS for the current fiscal year.

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.

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