Royce & Associates LP Has $1.97 Million Position in NextNav Inc. (NASDAQ:NN)

Royce & Associates LP lessened its holdings in shares of NextNav Inc. (NASDAQ:NN - Free Report) by 18.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 161,934 shares of the company's stock after selling 35,960 shares during the period. Royce & Associates LP owned 0.12% of NextNav worth $1,971,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Susquehanna Advisors Group Inc. bought a new stake in shares of NextNav during the fourth quarter valued at approximately $67,648,000. Vanguard Group Inc. raised its holdings in NextNav by 23.3% during the fourth quarter. Vanguard Group Inc. now owns 4,017,060 shares of the company's stock worth $62,505,000 after purchasing an additional 759,775 shares in the last quarter. Ancora Advisors LLC raised its holdings in NextNav by 14.9% during the fourth quarter. Ancora Advisors LLC now owns 2,016,250 shares of the company's stock worth $31,373,000 after purchasing an additional 261,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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. Finally, General American Investors Co. Inc. raised its holdings in NextNav by 31.0% during the first quarter. General American Investors Co. Inc. now owns 1,120,227 shares of the company's stock worth $13,633,000 after purchasing an additional 265,227 shares in the last quarter. Institutional investors own 79.16% of the company's stock.

NextNav Price Performance

NASDAQ:NN traded up $0.19 during midday trading on Friday, hitting $14.98. 318,237 shares of the stock were exchanged, compared to its average volume of 1,334,185. NextNav Inc. has a one year low of $6.47 and a one year high of $18.54. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -14.71 and a beta of 1.05. The business has a 50-day moving average price of $14.28 and a two-hundred day moving average price of $12.86. 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 business had revenue of $1.54 million during the quarter, compared to analyst estimates of $1.87 million. NextNav had a negative return on equity of 193.20% and a negative net margin of 2,091.01%. Sell-side analysts predict that NextNav Inc. will post -0.74 EPS for the current year.

Insider Transactions 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 owned 1,480,505 shares in the company, valued at approximately $21,289,661.90. The trade was a 4.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 7.70% of the company's stock.

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.