General American Investors Co. Inc. Purchases 265,227 Shares of NextNav Inc. (NASDAQ:NN)

General American Investors Co. Inc. raised its position in shares of NextNav Inc. (NASDAQ:NN - Free Report) by 31.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,120,227 shares of the company's stock after purchasing an additional 265,227 shares during the period. General American Investors Co. Inc. owned approximately 0.85% of NextNav worth $13,633,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. US Bancorp DE purchased a new position in shares of NextNav in the fourth quarter worth about $28,000. Russell Investments Group Ltd. increased its holdings in NextNav by 112.5% during the 4th quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company's stock valued at $30,000 after purchasing an additional 1,018 shares during the period. Harbor Investment Advisory LLC increased its holdings in NextNav by 331.0% during the 1st quarter. Harbor Investment Advisory LLC now owns 2,155 shares of the company's stock valued at $26,000 after purchasing an additional 1,655 shares during the period. Harbor Capital Advisors Inc. purchased a new position in NextNav during the 1st quarter valued at about $73,000. Finally, Golden State Wealth Management LLC increased its holdings in NextNav by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 10,000 shares of the company's stock valued at $122,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 79.16% of the company's stock.

Insider Activity at NextNav

In related news, CEO Mariam Sorond sold 69,853 shares of the business'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 directly owned 1,480,505 shares in the company, valued at $21,289,661.90. The trade was a 4.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.70% of the stock is currently owned by corporate insiders.

NextNav Stock Down 1.2%

NextNav stock traded down $0.17 during trading hours on Friday, hitting $14.41. 1,600,411 shares of the stock traded hands, compared to its average volume of 1,176,547. The firm's 50-day moving average price is $13.94 and its two-hundred day moving average price is $12.81. The company has a current ratio of 16.75, a quick ratio of 16.75 and a debt-to-equity ratio of 32.42. The company has a market cap of $1.91 billion, a PE ratio of -14.13 and a beta of 1.05. NextNav Inc. has a one year low of $6.47 and a one year high of $18.54.

NextNav (NASDAQ:NN - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). NextNav had a negative return on equity of 193.20% and a negative net margin of 2,091.01%. The company had revenue of $1.54 million during the quarter, compared to the consensus estimate of $1.87 million. On average, research 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.