807,508 Shares in NextNav Inc. $NN Acquired by Interval Partners LP

Key Points

• Interval Partners LP has made a significant investment in NextNav Inc., purchasing approximately 807,508 shares valued at $9.83 million, which represents about 0.61% of the company.
• NextNav reported a loss of $0.30 per share for the last quarter, missing estimates, and had a negative net margin of 2,678.59%.
• The stock currently has a market cap of $2.11 billion, with a price-to-earnings ratio of -12.30, and is facing a range of analyst ratings, with Zacks Research now rating it as a "strong sell."

Interval Partners LP bought a new stake in shares of NextNav Inc. (NASDAQ:NN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 807,508 shares of the company's stock, valued at approximately $9,827,000. Interval Partners LP owned about 0.61% of NextNav as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NN. Cambridge Investment Research Advisors Inc. increased its stake in NextNav by 94.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 70,971 shares of the company's stock valued at $864,000 after purchasing an additional 34,481 shares in the last quarter. SG Americas Securities LLC increased its stake in NextNav by 52.2% during the 1st quarter. SG Americas Securities LLC now owns 54,218 shares of the company's stock valued at $660,000 after purchasing an additional 18,606 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in NextNav during the 1st quarter valued at approximately $73,000. Millennium Management LLC increased its stake in NextNav by 43.5% during the 4th quarter. Millennium Management LLC now owns 235,987 shares of the company's stock valued at $3,672,000 after purchasing an additional 71,559 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in NextNav by 23.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,130 shares of the company's stock valued at $469,000 after purchasing an additional 5,807 shares in the last quarter. Hedge funds and other institutional investors own 79.16% of the company's stock.

Insider Transactions at NextNav

In other NextNav news, CEO Mariam Sorond sold 69,853 shares of the stock in a transaction 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 $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 SEC, which is accessible through this hyperlink. 7.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

NextNav Stock Performance

NN stock traded down $0.06 during midday trading on Wednesday, hitting $16.49. 606,668 shares of the stock traded hands, compared to its average volume of 1,345,015. The firm has a market cap of $2.20 billion, a P/E ratio of -12.84 and a beta of 1.05. The company has a debt-to-equity ratio of 32.42, a current ratio of 14.97 and a quick ratio of 14.97. The stock's fifty day simple moving average is $15.60 and its 200-day simple moving average is $13.52. NextNav Inc. has a 1-year low of $6.75 and a 1-year high of $18.54.

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

NextNav 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.