Vanguard Group Inc. Has $57.59 Million Stock Holdings in NextNav Inc. $NN

Key Points

• Vanguard Group Inc. has increased its stake in NextNav Inc. by 17.8%, acquiring an additional 715,171 shares to own a total of 4,732,231 shares worth approximately $57.59 million.
• Wall Street analysts currently rate NextNav as an average of "Hold", with a consensus price target of $20.00, following a recent upgrade to a "strong sell" rating by Zacks Research.
• NextNav reported a quarterly loss of ($0.30) EPS, missing estimates, and had revenue of $1.20 million compared to analyst expectations of $1.59 million.

Vanguard Group Inc. grew its holdings in NextNav Inc. (NASDAQ:NN - Free Report) by 17.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,732,231 shares of the company's stock after acquiring an additional 715,171 shares during the period. Vanguard Group Inc. owned about 3.58% of NextNav worth $57,591,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NN. DCF Advisers LLC acquired a new position in shares of NextNav during the first quarter worth $158,000. XTX Topco Ltd acquired a new position in NextNav in the 1st quarter worth $430,000. LPL Financial LLC lifted its holdings in NextNav by 8.0% in the 1st quarter. LPL Financial LLC now owns 171,821 shares of the company's stock worth $2,091,000 after buying an additional 12,718 shares in the last quarter. Greenhaven Road Investment Management L.P. purchased a new position in NextNav in the 1st quarter valued at about $730,000. Finally, General American Investors Co. Inc. grew its stake in shares of NextNav by 31.0% during the first quarter. General American Investors Co. Inc. now owns 1,120,227 shares of the company's stock valued at $13,633,000 after acquiring an additional 265,227 shares in the last quarter. 79.16% of the stock is owned by hedge funds and other institutional investors.

NextNav Stock Performance

NN traded down $0.13 on Friday, hitting $17.81. 1,484,488 shares of the company's stock were exchanged, compared to its average volume of 1,213,017. The company has a current ratio of 14.97, a quick ratio of 14.97 and a debt-to-equity ratio of 32.42. The stock has a fifty day moving average of $15.39 and a two-hundred day moving average of $13.30. NextNav Inc. has a twelve month low of $6.75 and a twelve month high of $18.54. The firm has a market cap of $2.37 billion, a PE ratio of -13.81 and a beta of 1.04.

NextNav (NASDAQ:NN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.16). The company had revenue of $1.20 million during the quarter, compared to the consensus estimate 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, research analysts anticipate that NextNav Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Transactions at NextNav

In other NextNav news, CEO Mariam Sorond sold 69,853 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 1,480,505 shares in the company, valued at approximately $21,289,661.90. The trade was a 4.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 7.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised NextNav to a "strong sell" rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $20.00.

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.