Nuveen LLC Buys New Shares in NextNav Inc. $NN

Key Points

• Nuveen LLC has made a new investment in NextNav Inc. by acquiring 209,159 shares worth about $2.5 million, representing a 0.16% ownership stake in the company.
• The stock received a rating of "strong sell" from Zacks Research, while analysts have assigned it an average rating of "hold" with a target price of $20.00.
• NextNav reported a quarterly loss of ($0.30) EPS, missing analyst expectations, and had a revenue of $1.20 million compared to the expected $1.59 million.

Nuveen LLC acquired a new stake in NextNav Inc. (NASDAQ:NN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 209,159 shares of the company's stock, valued at approximately $2,545,000. Nuveen LLC owned 0.16% of NextNav at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Harbor Investment Advisory LLC boosted its holdings in shares of NextNav by 331.0% in the 1st quarter. Harbor Investment Advisory LLC now owns 2,155 shares of the company's stock worth $26,000 after buying an additional 1,655 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in NextNav in the first quarter worth about $73,000. GAMMA Investing LLC boosted its stake in NextNav by 1,754.6% in the first quarter. GAMMA Investing LLC now owns 10,052 shares of the company's stock valued at $122,000 after acquiring an additional 9,510 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of NextNav by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 10,000 shares of the company's stock valued at $122,000 after acquiring an additional 5,000 shares during the period. Finally, DCF Advisers LLC bought a new position in shares of NextNav during the 1st quarter valued at approximately $158,000. 79.16% of the stock is currently owned by institutional investors.

NextNav Price Performance

Shares of NextNav stock traded down $0.46 during trading on Thursday, hitting $15.87. The stock had a trading volume of 3,050,507 shares, compared to its average volume of 1,244,693. The company has a current ratio of 14.97, a quick ratio of 14.97 and a debt-to-equity ratio of 32.42. NextNav Inc. has a 12 month low of $6.75 and a 12 month high of $18.54. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -12.30 and a beta of 1.05. The business's 50-day moving average is $15.55 and its 200 day moving average is $13.43.

NextNav (NASDAQ:NN - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $1.20 million for 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%. As a group, sell-side analysts anticipate that NextNav Inc. will post -0.74 earnings per share for the current year.

Analyst Ratings Changes

Separately, Zacks Research raised shares of NextNav to a "strong sell" rating in a 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's stock. According to MarketBeat, NextNav presently has a consensus rating of "Hold" and an average target price of $20.00.

Insider Activity at NextNav

In other 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 value of $1,004,486.14. Following the transaction, the chief executive officer owned 1,480,505 shares of the company's stock, valued at $21,289,661.90. This represents a 4.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.