Cambridge Investment Research Advisors Inc. Acquires 34,481 Shares of NextNav Inc. (NASDAQ:NN)

Cambridge Investment Research Advisors Inc. increased its stake in shares of NextNav Inc. (NASDAQ:NN - Free Report) by 94.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 70,971 shares of the company's stock after purchasing an additional 34,481 shares during the period. Cambridge Investment Research Advisors Inc. owned approximately 0.05% of NextNav worth $864,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fleming James B JR purchased a new position in NextNav during the 4th quarter worth $80,618,000. Susquehanna Advisors Group Inc. purchased a new stake in shares of NextNav in the fourth quarter valued at $67,648,000. Vanguard Group Inc. grew its holdings in NextNav by 23.3% in the fourth quarter. Vanguard Group Inc. now owns 4,017,060 shares of the company's stock valued at $62,505,000 after purchasing an additional 759,775 shares during the period. Ancora Advisors LLC lifted its position in NextNav by 14.9% during the fourth quarter. Ancora Advisors LLC now owns 2,016,250 shares of the company's stock valued at $31,373,000 after buying an additional 261,000 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of NextNav by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 1,731,051 shares of the company's stock worth $26,941,000 after purchasing an additional 39,543 shares in the last quarter. 79.16% of the stock is currently owned by hedge funds and other institutional investors.

NextNav Stock Down 0.9%

NASDAQ NN traded down $0.14 on Wednesday, hitting $16.09. 228,229 shares of the stock traded hands, compared to its average volume of 1,141,964. The stock has a 50-day moving average of $13.57 and a 200 day moving average of $12.79. NextNav Inc. has a twelve month low of $6.47 and a twelve month high of $18.54. The company has a market capitalization of $2.13 billion, a P/E ratio of -15.82 and a beta of 1.05. The company has a current ratio of 16.75, a quick ratio of 16.75 and a debt-to-equity ratio of 32.42.

NextNav (NASDAQ:NN - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The firm had revenue of $1.54 million for the quarter, compared to analyst estimates of $1.87 million. NextNav had a negative net margin of 2,091.01% and a negative return on equity of 193.20%. As a group, analysts expect that NextNav Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Buying and Selling 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 transaction, 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 position. The sale 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 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.