Epoch Investment Partners Inc. Has $5.47 Million Holdings in NextNav Inc. $NN

Key Points

• Epoch Investment Partners Inc. significantly increased its holdings in NextNav Inc. by 220.7% during the first quarter, owning approximately 0.34% of the company valued at $5.47 million.
• Other major institutional investors such as Vanguard Group Inc. and Voloridge Investment Management LLC also increased their stakes, with 79.16% of NextNav stock now owned by hedge funds and institutional investors.
• NextNav reported a loss per share of ($0.30) for its recent quarter, falling short of the consensus estimate of ($0.14), alongside a revenue of $1.20 million compared to an expected $1.59 million.

Epoch Investment Partners Inc. raised its stake in shares of NextNav Inc. (NASDAQ:NN - Free Report) by 220.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 449,272 shares of the company's stock after acquiring an additional 309,175 shares during the quarter. Epoch Investment Partners Inc. owned approximately 0.34% of NextNav worth $5,468,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NN. JPMorgan Chase & Co. boosted its stake in NextNav by 23.4% during the 4th quarter. JPMorgan Chase & Co. now owns 40,225 shares of the company's stock valued at $626,000 after acquiring an additional 7,637 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of NextNav by 52.3% in the 4th quarter. Wells Fargo & Company MN now owns 38,031 shares of the company's stock worth $592,000 after buying an additional 13,066 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of NextNav in the 4th quarter worth about $231,000. MetLife Investment Management LLC lifted its position in shares of NextNav by 5.3% in the 4th quarter. MetLife Investment Management LLC now owns 46,522 shares of the company's stock worth $724,000 after buying an additional 2,327 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of NextNav by 23.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,130 shares of the company's stock worth $469,000 after buying an additional 5,807 shares during the last quarter. 79.16% of the stock is currently owned by institutional investors.

NextNav Price Performance

Shares of NASDAQ:NN traded down $0.13 on Monday, hitting $17.81. The stock had a trading volume of 1,484,488 shares, compared to its average volume of 1,242,671. NextNav Inc. has a twelve month low of $6.75 and a twelve month high of $18.54. The company has a debt-to-equity ratio of 32.42, a quick ratio of 14.97 and a current ratio of 14.97. The firm's 50 day moving average price is $15.39 and its 200-day moving average price is $13.32. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of -13.81 and a beta of 1.05.

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

Insider Transactions at NextNav

In other NextNav news, CEO Mariam Sorond sold 69,853 shares of the company'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 transaction, the chief executive officer directly owned 1,480,505 shares in the company, valued at approximately $21,289,661.90. This represents a 4.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 7.70% of the company's stock.

Analyst Ratings Changes

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

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.