Waverly Advisors LLC Acquires Shares of 34,352 NextNav Inc. (NASDAQ:NN)

Waverly Advisors LLC purchased a new stake in shares of NextNav Inc. (NASDAQ:NN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 34,352 shares of the company's stock, valued at approximately $535,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE bought a new stake in NextNav during the 4th quarter valued at about $28,000. Russell Investments Group Ltd. grew its holdings 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 bought a new stake in shares of NextNav during the fourth quarter valued at approximately $78,000. Mission Wealth Management LP bought a new stake in shares of NextNav during the fourth quarter valued at approximately $156,000. Finally, Wharton Business Group LLC purchased a new position in NextNav in the 4th quarter worth approximately $156,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Christian D. Gates sold 5,730 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $11.24, for a total transaction of $64,405.20. Following the completion of the sale, the chief financial officer now owns 857,206 shares of the company's stock, valued at $9,634,995.44. The trade was a 0.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Sammaad Shams sold 4,005 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $11.21, for a total value of $44,896.05. Following the completion of the sale, the chief accounting officer now owns 81,100 shares of the company's stock, valued at $909,131. This trade represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,705 shares of company stock valued at $816,495 over the last 90 days. Company insiders own 7.70% of the company's stock.

NextNav Stock Performance

NASDAQ:NN traded down $0.37 during mid-day trading on Thursday, reaching $12.39. The company's stock had a trading volume of 651,688 shares, compared to its average volume of 1,066,289. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. The firm's fifty day moving average price is $12.52 and its two-hundred day moving average price is $13.28. NextNav Inc. has a 12-month low of $6.47 and a 12-month high of $18.54. The stock has a market cap of $1.64 billion, a P/E ratio of -16.52 and a beta of 1.03.

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

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.