Voloridge Investment Management LLC Grows Position in NextNav Inc. (NASDAQ:NN)

Voloridge Investment Management LLC increased its holdings in NextNav Inc. (NASDAQ:NN - Free Report) by 466.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 657,996 shares of the company's stock after acquiring an additional 541,842 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.50% of NextNav worth $10,238,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. US Bancorp DE purchased a new stake in shares of NextNav during the fourth quarter valued at about $28,000. Russell Investments Group Ltd. lifted its position in shares of NextNav by 112.5% during the fourth quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company's stock valued at $30,000 after buying an additional 1,018 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of NextNav during the fourth quarter valued at about $78,000. Mission Wealth Management LP purchased a new stake in shares of NextNav during the fourth quarter valued at about $156,000. Finally, Wharton Business Group LLC purchased a new stake in shares of NextNav during the fourth quarter valued at about $156,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

NextNav Stock Up 0.0%

Shares of NN traded up $0.01 during mid-day trading on Friday, hitting $12.40. 194,825 shares of the company traded hands, compared to its average volume of 1,064,271. NextNav Inc. has a 1-year low of $6.47 and a 1-year high of $18.54. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $1.64 billion, a PE ratio of -16.62 and a beta of 1.03. The business has a 50 day moving average of $12.51 and a 200 day moving average of $13.26.

NextNav (NASDAQ:NN - Get Free Report) last posted its earnings results on Friday, May 9th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. The firm had revenue of $1.54 million for the quarter, compared to analysts' expectations of $1.87 million. Equities research analysts anticipate that NextNav Inc. will post -0.74 EPS for the current year.

Insider Activity

In other NextNav news, CAO Sammaad Shams sold 4,005 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $11.21, for a total transaction of $44,896.05. Following the sale, the chief accounting officer now directly owns 81,100 shares in the company, valued at $909,131. This represents a 4.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mariam Sorond sold 62,868 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $11.23, for a total transaction of $706,007.64. Following the sale, the chief executive officer now owns 1,550,358 shares in the company, valued at $17,410,520.34. This trade represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,705 shares of company stock valued at $816,495. 7.70% of the stock is currently owned by insiders.

About NextNav

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.