Tudor Investment Corp ET AL Sells 94,175 Shares of NextNav Inc. $NN

Key Points

• Tudor Investment Corp reduced its NextNav stake by 59.8%, selling 94,175 shares in Q3 and retaining 63,379 shares valued at about $906,000.
• NextNav shares dropped 14.5% amid weak fundamentals — last quarter EPS was -$0.13 with just $0.95M in revenue, a negative PE, and a Wall Street consensus rating of "Reduce".
• Significant insider selling has occurred recently: CEO Mariam Sorond sold 11,322 shares and the general counsel sold 9,429, with insiders selling 101,133 shares over the past 90 days and currently owning 7.70% of the stock.

Tudor Investment Corp ET AL decreased its holdings in NextNav Inc. (NASDAQ:NN - Free Report) by 59.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,379 shares of the company's stock after selling 94,175 shares during the period. Tudor Investment Corp ET AL's holdings in NextNav were worth $906,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NN. Clearstead Advisors LLC bought a new position in NextNav in the 3rd quarter worth approximately $52,000. FWL Investment Management LLC bought a new stake in NextNav during the 2nd quarter valued at $70,000. BNP Paribas Financial Markets lifted its position in shares of NextNav by 64.4% during the second quarter. BNP Paribas Financial Markets now owns 8,918 shares of the company's stock worth $136,000 after acquiring an additional 3,493 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of NextNav by 11.0% during the second quarter. Ameritas Investment Partners Inc. now owns 8,990 shares of the company's stock worth $137,000 after acquiring an additional 892 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of NextNav by 451.2% in the third quarter. Russell Investments Group Ltd. now owns 10,275 shares of the company's stock worth $147,000 after acquiring an additional 8,411 shares during the period. Institutional investors own 79.16% of the company's stock.

NextNav Trading Down 14.5%

NextNav stock opened at $15.27 on Tuesday. The firm's 50 day simple moving average is $16.46 and its 200 day simple moving average is $15.31. The firm has a market capitalization of $2.07 billion, a PE ratio of -9.92 and a beta of 0.96. NextNav Inc. has a 1-year low of $10.64 and a 1-year high of $19.91.

NextNav (NASDAQ:NN - Get Free Report) last announced its quarterly earnings results on Tuesday, March 17th. The company reported ($0.13) EPS for the quarter, meeting the consensus estimate of ($0.13). The firm had revenue of $0.95 million during the quarter, compared to the consensus estimate of $0.86 million. NextNav had a negative net margin of 4,503.43% and a negative return on equity of 556.83%. Research analysts forecast that NextNav Inc. will post -0.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wall Street Zen cut NextNav from a "hold" rating to a "strong sell" rating in a research report on Saturday, March 21st. Weiss Ratings reissued a "sell (d-)" rating on shares of NextNav in a report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce".

Insiders Place Their Bets

In related news, CEO Mariam Sorond sold 11,322 shares of NextNav stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $16.85, for a total transaction of $190,775.70. Following the completion of the sale, the chief executive officer owned 1,259,624 shares of the company's stock, valued at approximately $21,224,664.40. This trade represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel James S. Black sold 9,429 shares of the business's stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $17.97, for a total value of $169,439.13. Following the transaction, the general counsel owned 93,566 shares of the company's stock, valued at approximately $1,681,381.02. The trade was a 9.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 101,133 shares of company stock worth $1,733,594. 7.70% of the stock is currently owned by corporate insiders.

NextNav Profile

NextNav, Inc is a provider of advanced 3D geolocation infrastructure and positioning services in the United States. The company operates a nationwide network designed to deliver real-time horizontal and vertical location data for consumer, enterprise and public safety applications. By leveraging spectrum holdings in the 900 MHz band, NextNav’s network offers precise altitude and position information that complements GPS and other satellite systems, particularly in urban canyons, indoors or underground environments where traditional signals struggle.

At the core of NextNav’s offering is its TerraPoiNT platform, which enables developers, carriers and emergency response centers to integrate high-accuracy vertical location into their applications and workflows.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.