NextNav Inc. (NASDAQ:NN) is Fleming James B JR's Largest Position

Fleming James B JR decreased its holdings 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 fund owned 5,066,118 shares of the company's stock after selling 115,000 shares during the period. NextNav makes up approximately 97.7% of Fleming James B JR's investment portfolio, making the stock its largest position. Fleming James B JR owned about 3.83% of NextNav worth $61,655,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. General American Investors Co. Inc. raised its holdings in NextNav by 31.0% in the 1st quarter. General American Investors Co. Inc. now owns 1,120,227 shares of the company's stock valued at $13,633,000 after acquiring an additional 265,227 shares during the last quarter. Arizona State Retirement System raised its holdings in NextNav by 27.8% in the 1st quarter. Arizona State Retirement System now owns 18,709 shares of the company's stock valued at $228,000 after acquiring an additional 4,064 shares during the last quarter. Fairway Wealth LLC acquired a new stake in shares of NextNav during the 1st quarter worth approximately $1,217,000. Bank of New York Mellon Corp increased its holdings in shares of NextNav by 5.6% during the 1st quarter. Bank of New York Mellon Corp now owns 219,024 shares of the company's stock worth $2,666,000 after buying an additional 11,565 shares during the last quarter. Finally, Perigon Wealth Management LLC increased its holdings in shares of NextNav by 5.6% during the 1st quarter. Perigon Wealth Management LLC now owns 38,000 shares of the company's stock worth $462,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 79.16% of the company's stock.

Insider Buying and Selling

In other NextNav 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 value of $1,004,486.14. Following the completion of the transaction, the chief executive officer owned 1,480,505 shares of the company's stock, valued at $21,289,661.90. This trade represents a 4.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 7.70% of the stock is owned by corporate insiders.

NextNav Trading Down 1.2%

Shares of NASDAQ NN traded down $0.17 during midday trading on Friday, reaching $14.41. 1,600,411 shares of the stock were exchanged, compared to its average volume of 1,181,334. The company has a 50 day simple moving average of $13.96 and a 200 day simple moving average of $12.76. The stock has a market capitalization of $1.91 billion, a P/E ratio of -14.13 and a beta of 1.05. 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 Inc. has a twelve month low of $6.47 and a twelve month high of $18.54.

NextNav (NASDAQ:NN - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). The company had revenue of $1.54 million for the quarter, compared to analysts' expectations of $1.87 million. NextNav had a negative return on equity of 193.20% and a negative net margin of 2,091.01%. As a group, equities analysts expect that NextNav Inc. will post -0.74 earnings per share for the current 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.