Swiss National Bank Acquires 27,100 Shares of NextNav Inc. $NN

Key Points

• The Swiss National Bank has increased its stake in NextNav Inc. by 27.3%, now holding 126,500 shares valued at approximately $1.54 million.
• Institutional investors collectively own 79.16% of NextNav's stock, with notable increases in holdings from Vanguard Group and Voloridge Investment Management.
• NextNav reported a quarterly loss of ($0.30) EPS, missing analysts' estimates, and has a current average stock rating of "Hold" with a target price of $20.00.

Swiss National Bank grew its position in NextNav Inc. (NASDAQ:NN - Free Report) by 27.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 126,500 shares of the company's stock after purchasing an additional 27,100 shares during the period. Swiss National Bank owned about 0.10% of NextNav worth $1,540,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NN. JPMorgan Chase & Co. raised its holdings in NextNav by 23.4% in the fourth quarter. JPMorgan Chase & Co. now owns 40,225 shares of the company's stock worth $626,000 after purchasing an additional 7,637 shares during the period. Wells Fargo & Company MN raised its holdings in NextNav by 52.3% in the fourth quarter. Wells Fargo & Company MN now owns 38,031 shares of the company's stock worth $592,000 after purchasing an additional 13,066 shares during the period. Russell Investments Group Ltd. raised its holdings in NextNav by 112.5% in the fourth quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company's stock worth $30,000 after purchasing an additional 1,018 shares during the period. Legal & General Group Plc raised its holdings in NextNav by 15.5% in the fourth quarter. Legal & General Group Plc now owns 46,961 shares of the company's stock worth $731,000 after purchasing an additional 6,292 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in NextNav in the fourth quarter worth $231,000. 79.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NextNav

In related news, CEO Mariam Sorond sold 69,853 shares of the firm's stock in a transaction on 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 $21,289,661.90. This trade represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 7.70% of the stock is currently owned by insiders.

NextNav Stock Down 0.7%

Shares of NASDAQ:NN traded down $0.13 during midday trading on Friday, reaching $17.81. 1,484,488 shares of the company were exchanged, compared to its average volume of 1,213,017. NextNav Inc. has a fifty-two week low of $6.75 and a fifty-two week high of $18.54. The company has a quick ratio of 14.97, a current ratio of 14.97 and a debt-to-equity ratio of 32.42. The stock has a fifty day simple moving average of $15.39 and a two-hundred day simple moving average of $13.32. 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 issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $1.20 million for the quarter, compared to analyst estimates of $1.59 million. As a group, sell-side analysts forecast that NextNav Inc. will post -0.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

NextNav 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.