Wharton Business Group LLC Purchases 46,360 Shares of 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 increased its stake in shares of NextNav Inc. (NASDAQ:NN - Free Report) by 463.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,360 shares of the company's stock after buying an additional 46,360 shares during the quarter. Wharton Business Group LLC's holdings in NextNav were worth $686,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of NextNav by 94.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 70,971 shares of the company's stock valued at $864,000 after acquiring an additional 34,481 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of NextNav by 52.2% during the 1st quarter. SG Americas Securities LLC now owns 54,218 shares of the company's stock valued at $660,000 after acquiring an additional 18,606 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of NextNav during the 1st quarter valued at $73,000. Geode Capital Management LLC boosted its holdings in shares of NextNav by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 1,731,051 shares of the company's stock valued at $26,941,000 after acquiring an additional 39,543 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of NextNav by 23.4% during the 4th quarter. JPMorgan Chase & Co. now owns 40,225 shares of the company's stock valued at $626,000 after acquiring an additional 7,637 shares in the last quarter. Institutional investors and hedge funds own 79.16% of the company's stock.

Insider Transactions at NextNav

In related news, CEO Mariam Sorond sold 69,853 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $21,289,661.90. This trade represents a 4.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 7.70% of the stock is currently owned by corporate insiders.

NextNav Price Performance

Shares of NASDAQ NN traded down $0.26 during mid-day trading on Friday, hitting $13.75. 1,726,797 shares of the stock traded hands, compared to its average volume of 1,308,535. The company has a debt-to-equity ratio of 32.42, a current ratio of 14.97 and a quick ratio of 16.75. NextNav Inc. has a twelve month low of $6.47 and a twelve month high of $18.54. The company has a market cap of $1.82 billion, a PE ratio of -10.66 and a beta of 1.04. The firm has a 50 day simple moving average of $14.58 and a two-hundred day simple moving average of $12.95.

NextNav (NASDAQ:NN - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.16). The company had revenue of $1.20 million for the quarter, compared to the consensus estimate of $1.59 million. NextNav had a negative return on equity of 556.83% and a negative net margin of 2,678.59%. As a group, equities research 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.