General American Investors Co. Inc. Increases Stock Holdings in NextNav Inc. (NASDAQ:NN)

General American Investors Co. Inc. increased its position in NextNav Inc. (NASDAQ:NN - Free Report) by 31.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,120,227 shares of the company's stock after acquiring an additional 265,227 shares during the quarter. General American Investors Co. Inc. owned about 0.85% of NextNav worth $13,633,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in NextNav by 112.5% in the 4th quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company's stock worth $30,000 after acquiring an additional 1,018 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in NextNav by 5.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 30,753 shares of the company's stock worth $479,000 after acquiring an additional 1,563 shares in the last quarter. Harbor Investment Advisory LLC increased its holdings in NextNav by 331.0% in the 1st quarter. Harbor Investment Advisory LLC now owns 2,155 shares of the company's stock worth $26,000 after acquiring an additional 1,655 shares in the last quarter. US Bancorp DE purchased a new stake in NextNav in the 4th quarter worth approximately $28,000. Finally, Perigon Wealth Management LLC grew its holdings in NextNav by 5.6% during the 1st quarter. Perigon Wealth Management LLC now owns 38,000 shares of the company's stock valued at $462,000 after buying an additional 2,000 shares in the last quarter. 79.16% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NextNav

In other news, CEO Mariam Sorond sold 69,853 shares of NextNav stock in a transaction on Friday, June 20th. The stock was 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 directly owned 1,480,505 shares in the company, valued at approximately $21,289,661.90. This trade represents a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.70% of the stock is currently owned by corporate insiders.

NextNav Price Performance

NN traded down $0.17 during trading on Friday, reaching $14.41. 1,600,411 shares of the company traded hands, compared to its average volume of 1,181,334. 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 12-month low of $6.47 and a 12-month high of $18.54. The firm has a fifty day simple moving average of $13.96 and a 200 day simple moving average of $12.76. The company has a market cap of $1.91 billion, a P/E ratio of -14.13 and a beta of 1.05.

NextNav (NASDAQ:NN - Get Free Report) last posted its earnings results 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). NextNav had a negative net margin of 2,091.01% and a negative return on equity of 193.20%. The business had revenue of $1.54 million during the quarter, compared to analysts' expectations of $1.87 million. On average, equities analysts forecast that NextNav Inc. will post -0.74 EPS 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.