Gamco Investors INC. ET AL Acquires New Shares in NextNav Inc. $NN

Key Points

• Gamco Investors INC. ET AL has invested approximately $913,000 in NextNav Inc., acquiring 75,000 shares in the first quarter, representing a small ownership of 0.06% in the company.
• Other significant institutional investors, including Vanguard Group Inc. and Voloridge Investment Management LLC, have also increased their holdings in NextNav, indicating strong interest from large investment firms.
• NextNav's recent quarterly earnings report showed a miss on expected earnings per share, with the company posting a net margin of -2,678.59% and a forecasted EPS of -0.74 for the current fiscal year.

Gamco Investors INC. ET AL bought a new position in shares of NextNav Inc. (NASDAQ:NN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 75,000 shares of the company's stock, valued at approximately $913,000. Gamco Investors INC. ET AL owned approximately 0.06% of NextNav as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Harbor Investment Advisory LLC lifted its position 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 in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of NextNav during the 1st quarter worth approximately $73,000. Golden State Wealth Management LLC lifted its position 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 in the last quarter. GAMMA Investing LLC lifted its position in shares of NextNav by 1,754.6% during the 1st quarter. GAMMA Investing LLC now owns 10,052 shares of the company's stock worth $122,000 after buying an additional 9,510 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of NextNav during the 4th quarter worth approximately $164,000. Institutional investors own 79.16% of the company's stock.

Insider Activity

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 completion of the sale, the chief executive officer owned 1,480,505 shares in the company, valued at $21,289,661.90. This trade represents a 4.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of NextNav to a "strong sell" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $20.00.

NextNav Stock Performance

Shares of NN stock traded down $0.46 during trading hours on Thursday, hitting $15.87. 3,050,507 shares of the company were exchanged, compared to its average volume of 1,244,693. The firm has a fifty day simple moving average of $15.55 and a 200 day simple moving average of $13.43. The company has a current ratio of 14.97, a quick ratio of 14.97 and a debt-to-equity ratio of 32.42. NextNav Inc. has a 52-week low of $6.75 and a 52-week high of $18.54. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -12.30 and a beta of 1.05.

NextNav (NASDAQ:NN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.16). NextNav had a negative return on equity of 556.83% and a negative net margin of 2,678.59%.The company had revenue of $1.20 million for the quarter, compared to analysts' expectations of $1.59 million. Research analysts predict that NextNav Inc. will post -0.74 earnings per share 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.