Wharton Business Group LLC Has $686,000 Stock Holdings in NextNav Inc. (NASDAQ:NN)

Key Points

• Wharton Business Group LLC increased its stake in NextNav Inc. by 463.6% in the 1st quarter, owning 56,360 shares valued at approximately $686,000.
• NextNav reported a quarterly earnings loss of ($0.15) EPS, which missed the consensus estimate, alongside a revenue of $1.54 million compared to an expected $1.87 million.
• CEO Mariam Sorond sold 69,853 shares for about $1 million, decreasing her ownership position by 4.51% but retaining a substantial stake valued around $21 million.

Wharton Business Group LLC boosted its holdings in shares of NextNav Inc. (NASDAQ:NN - Free Report) by 463.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,360 shares of the company's stock after buying an additional 46,360 shares during the period. Wharton Business Group LLC's holdings in NextNav were worth $686,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Harbor Investment Advisory LLC raised its holdings in NextNav by 331.0% during the first quarter. Harbor Investment Advisory LLC now owns 2,155 shares of the company's stock valued at $26,000 after buying an additional 1,655 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in NextNav by 112.5% in the 4th quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company's stock worth $30,000 after acquiring an additional 1,018 shares during the period. Harbor Capital Advisors Inc. bought a new position in NextNav in the 1st quarter worth $73,000. GAMMA Investing LLC lifted its position in NextNav by 1,754.6% during the 1st quarter. GAMMA Investing LLC now owns 10,052 shares of the company's stock worth $122,000 after acquiring an additional 9,510 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in NextNav by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 10,000 shares of the company's stock valued at $122,000 after acquiring an additional 5,000 shares during the period. 79.16% of the stock is owned by hedge funds and other institutional investors.

NextNav Stock Performance

Shares of NN stock traded down $0.26 during trading hours on Friday, reaching $13.75. 1,726,797 shares of the company's stock were exchanged, compared to its average volume of 1,308,535. NextNav Inc. has a fifty-two week low of $6.47 and a fifty-two week high of $18.54. The company has a quick ratio of 16.75, a current ratio of 14.97 and a debt-to-equity ratio of 32.42. The stock has a market capitalization of $1.82 billion, a P/E ratio of -10.66 and a beta of 1.04. The business has a fifty day moving average price of $14.58 and a 200-day moving average price of $12.95.

NextNav (NASDAQ:NN - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.16). The firm had revenue of $1.20 million for the quarter, compared to the consensus estimate of $1.59 million. NextNav had a negative net margin of 2,678.59% and a negative return on equity of 556.83%. Analysts predict that NextNav Inc. will post -0.74 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Mariam Sorond sold 69,853 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $14.38, for a total transaction of $1,004,486.14. Following the completion of the transaction, the chief executive officer directly owned 1,480,505 shares in the company, valued at approximately $21,289,661.90. The trade was a 4.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.70% of the stock is currently owned by insiders.

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.