Millennium Management LLC Purchases 71,559 Shares of NextNav Inc. (NASDAQ:NN)

Millennium Management LLC increased its stake in shares of NextNav Inc. (NASDAQ:NN - Free Report) by 43.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 235,987 shares of the company's stock after buying an additional 71,559 shares during the period. Millennium Management LLC owned 0.18% of NextNav worth $3,672,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NN. JPMorgan Chase & Co. raised its position in shares of NextNav by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 32,588 shares of the company's stock worth $244,000 after acquiring an additional 616 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in NextNav by 112.5% in the fourth quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company's stock valued at $30,000 after acquiring an additional 1,018 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in NextNav by 5.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 30,753 shares of the company's stock worth $479,000 after purchasing an additional 1,563 shares during the period. US Bancorp DE bought a new stake in NextNav during the 4th quarter worth about $28,000. Finally, Alliancebernstein L.P. raised its holdings in NextNav by 2.3% during the 4th quarter. Alliancebernstein L.P. now owns 87,760 shares of the company's stock worth $1,366,000 after purchasing an additional 2,010 shares during the last quarter. Institutional investors and hedge funds own 79.16% of the company's stock.

NextNav Trading Up 1.7%

Shares of NN traded up $0.20 on Wednesday, reaching $11.83. 1,273,084 shares of the company's stock were exchanged, compared to its average volume of 1,085,825. The business has a 50 day moving average price of $12.43 and a two-hundred day moving average price of $13.20. NextNav Inc. has a 12 month low of $6.47 and a 12 month high of $18.54. The stock has a market capitalization of $1.57 billion, a P/E ratio of -15.77 and a beta of 1.03. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81.

NextNav (NASDAQ:NN - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The company reported ($0.15) EPS 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 analyst estimates of $1.87 million. NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. Research analysts anticipate that NextNav Inc. will post -0.74 earnings per share for the current year.

Insider Buying and Selling

In other NextNav news, CFO Christian D. Gates sold 5,730 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $11.24, for a total value of $64,405.20. Following the completion of the transaction, the chief financial officer now directly owns 857,206 shares of the company's stock, valued at approximately $9,634,995.44. The trade was a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sammaad Shams sold 4,005 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $11.21, for a total value of $44,896.05. Following the sale, the chief accounting officer now directly owns 81,100 shares in the company, valued at approximately $909,131. This represents a 4.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,705 shares of company stock valued at $816,495 in the last 90 days. 7.70% of the stock is owned by insiders.

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.