75,000 Shares in NextNav Inc. $NN Acquired by Paloma Partners Management Co

Key Points

• Paloma Partners Management Co has invested approximately $913,000 in NextNav Inc., acquiring 75,000 shares, which represents 0.06% ownership of the company as of their latest SEC filing.
• Notable institutional investors, including Vanguard and Invesco, increased their positions in NextNav by significant percentages during the first quarter, indicating strong interest in the company.
• NextNav recently reported disappointing quarterly earnings, with an EPS of ($0.30), missing the consensus estimate and contributing to a consensus rating of "Hold" among analysts.

Paloma Partners Management Co acquired a new stake in shares of NextNav Inc. (NASDAQ:NN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 75,000 shares of the company's stock, valued at approximately $913,000. Paloma Partners Management Co owned about 0.06% of NextNav as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in NN. Vanguard Group Inc. increased its holdings in shares of NextNav by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 4,732,231 shares of the company's stock valued at $57,591,000 after acquiring an additional 715,171 shares during the last quarter. Voloridge Investment Management LLC increased its holdings in shares of NextNav by 466.5% during the 4th quarter. Voloridge Investment Management LLC now owns 657,996 shares of the company's stock valued at $10,238,000 after acquiring an additional 541,842 shares during the last quarter. Epoch Investment Partners Inc. increased its holdings in shares of NextNav by 220.7% during the 1st quarter. Epoch Investment Partners Inc. now owns 449,272 shares of the company's stock valued at $5,468,000 after acquiring an additional 309,175 shares during the last quarter. General American Investors Co. Inc. increased its holdings in shares of NextNav by 31.0% during the 1st 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 during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of NextNav by 32.0% during the 1st quarter. Invesco Ltd. now owns 940,335 shares of the company's stock valued at $11,444,000 after acquiring an additional 227,950 shares during the last quarter. Institutional investors and hedge funds own 79.16% of the company's stock.

Insider Activity

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 completion of the transaction, the chief executive officer 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.70% of the company's stock.

Analyst Ratings Changes

Separately, Zacks Research raised 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, the stock has a consensus rating of "Hold" and a consensus target price of $20.00.

NextNav Stock Performance

NASDAQ:NN traded down $0.46 during mid-day trading on Thursday, hitting $15.87. 3,050,507 shares of the company's stock traded hands, compared to its average volume of 1,340,707. The firm has a 50 day moving average of $15.53 and a two-hundred day moving average of $13.41. 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 capitalization of $2.11 billion, a price-to-earnings ratio of -12.30 and a beta of 1.05.

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

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.