UBS Group AG Raises Position in NextNav Inc. $NN

Key Points

• UBS Group AG increased its NextNav stake by 35% in the fourth quarter, buying 516,045 more shares and bringing its total holding to 1,991,825 shares worth about $33.1 million.
• Institutional ownership remains high, with hedge funds and other institutions holding about 79.16% of NextNav stock; Vanguard also boosted its position during the quarter.
• Recent insider sales and mixed analyst views stood out, as NextNav executives sold shares in March while analysts ranged from strong sell to buy, with an average rating of Hold and a $25 price target.

UBS Group AG raised its stake in NextNav Inc. (NASDAQ:NN - Free Report) by 35.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,991,825 shares of the company's stock after purchasing an additional 516,045 shares during the quarter. UBS Group AG owned 1.48% of NextNav worth $33,144,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of NN. Vanguard Group Inc. grew its holdings in shares of NextNav by 9.0% in the fourth quarter. Vanguard Group Inc. now owns 6,932,757 shares of the company's stock valued at $115,361,000 after acquiring an additional 573,214 shares in the last quarter. Leelyn Smith LLC bought a new position in shares of NextNav in the fourth quarter valued at approximately $339,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of NextNav by 21.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,409 shares of the company's stock valued at $290,000 after acquiring an additional 3,040 shares in the last quarter. DDD Partners LLC bought a new position in shares of NextNav in the fourth quarter valued at approximately $265,000. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of NextNav by 25.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 24,149 shares of the company's stock valued at $402,000 after acquiring an additional 4,866 shares in the last quarter. 79.16% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NextNav

In other NextNav news, CFO Timothy Gray sold 1,405 shares of the stock in a transaction on Friday, March 20th. The stock was sold at an average price of $18.11, for a total transaction of $25,444.55. Following the completion of the transaction, the chief financial officer directly owned 131,786 shares of the company's stock, valued at approximately $2,386,644.46. This represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sammaad Shams sold 3,945 shares of the stock in a transaction on Thursday, March 26th. The shares were sold at an average price of $19.54, for a total value of $77,085.30. Following the transaction, the chief accounting officer directly owned 72,950 shares of the company's stock, valued at approximately $1,425,443. This trade represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 101,133 shares of company stock valued at $1,733,594 in the last three months. 7.80% of the stock is currently owned by company insiders.

NextNav Trading Up 1.4%

Shares of NASDAQ NN opened at $19.79 on Friday. The stock has a fifty day simple moving average of $17.50 and a two-hundred day simple moving average of $15.78. NextNav Inc. has a 1-year low of $10.84 and a 1-year high of $24.19. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -12.85 and a beta of 1.03.

NextNav (NASDAQ:NN - Get Free Report) last announced its quarterly earnings data on Tuesday, March 17th. The company reported ($0.13) earnings per share for the quarter, meeting the consensus estimate of ($0.13). The firm had revenue of $0.95 million for the quarter, compared to the consensus estimate of $0.86 million. Analysts forecast that NextNav Inc. will post -0.59 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wall Street Zen lowered NextNav from a "hold" rating to a "strong sell" rating in a report on Saturday, March 21st. B. Riley Financial reaffirmed a "buy" rating on shares of NextNav in a report on Thursday, April 23rd. Oppenheimer raised NextNav from a "market perform" rating to an "outperform" rating and set a $25.00 target price for the company in a report on Thursday, April 16th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NextNav in a report on Tuesday, April 21st. Finally, UBS Group set a $25.00 target price on NextNav in a report on Thursday, April 16th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $25.00.

About NextNav

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.

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