Fleming James B JR Decreases Holdings in NextNav Inc. (NASDAQ:NN)

Fleming James B JR cut its stake in NextNav Inc. (NASDAQ:NN - Free Report) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,066,118 shares of the company's stock after selling 115,000 shares during the period. NextNav makes up 97.7% of Fleming James B JR's holdings, making the stock its largest position. Fleming James B JR owned approximately 3.83% of NextNav worth $61,655,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. US Bancorp DE acquired a new position in shares of NextNav during the 4th quarter worth about $28,000. Russell Investments Group Ltd. boosted its stake in shares of NextNav by 112.5% during the 4th 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. Harbor Investment Advisory LLC boosted its stake in shares of NextNav by 331.0% during the 1st quarter. Harbor Investment Advisory LLC now owns 2,155 shares of the company's stock worth $26,000 after buying an additional 1,655 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of NextNav during the 1st quarter worth about $73,000. Finally, Golden State Wealth Management LLC boosted its stake in shares of NextNav by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 10,000 shares of the company's stock worth $122,000 after buying an additional 5,000 shares during the last quarter. 79.16% of the stock is currently owned by institutional investors and hedge funds.

NextNav Stock Performance

NASDAQ:NN traded down $0.17 during mid-day trading on Friday, hitting $14.41. The stock had a trading volume of 1,600,411 shares, compared to its average volume of 1,176,547. NextNav Inc. has a twelve month low of $6.47 and a twelve month high of $18.54. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -14.13 and a beta of 1.05. The company's 50 day simple moving average is $13.94 and its 200 day simple moving average is $12.81. The company has a debt-to-equity ratio of 32.42, a quick ratio of 16.75 and a current ratio of 16.75.

NextNav (NASDAQ:NN - Get Free Report) last released its quarterly earnings results 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). The company had revenue of $1.54 million during the quarter, compared to the consensus estimate of $1.87 million. NextNav had a negative net margin of 2,091.01% and a negative return on equity of 193.20%. On average, equities research analysts forecast that NextNav Inc. will post -0.74 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Mariam Sorond sold 69,853 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were 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 approximately $21,289,661.90. This trade 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 can be accessed through this hyperlink. 7.70% of the stock is currently owned by corporate insiders.

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.