XTX Topco Ltd Invests $430,000 in NextNav Inc. (NASDAQ:NN)

Key Points

• XTX Topco Ltd invested approximately $430,000 in NextNav Inc. by purchasing 35,338 shares during the first quarter.
• Other institutional investors, including Vanguard Group Inc. and Invesco Ltd., increased their stakes significantly in NextNav during the fourth quarter.
• NextNav reported quarterly earnings showing a loss of ($0.30) per share, missing the consensus estimate by ($0.16).

XTX Topco Ltd bought a new stake in NextNav Inc. (NASDAQ:NN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 35,338 shares of the company's stock, valued at approximately $430,000.

Several other hedge funds have also recently added to or reduced their stakes in NN. Harbor Investment Advisory LLC grew its position in NextNav by 331.0% in the 1st 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 during the last quarter. Russell Investments Group Ltd. boosted its position in shares of NextNav by 112.5% during the 4th quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company's stock worth $30,000 after purchasing an additional 1,018 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of NextNav during the 1st quarter worth $73,000. GAMMA Investing LLC raised its stake in shares of 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 buying an additional 9,510 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its stake in shares of NextNav by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 10,000 shares of the company's stock worth $122,000 after buying an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 79.16% of the company's stock.

Insiders Place Their Bets

In other NextNav news, CEO Mariam Sorond sold 69,853 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $14.38, for a total value of $1,004,486.14. Following the transaction, the chief executive officer directly owned 1,480,505 shares of the company's stock, valued at $21,289,661.90. This represents a 4.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 7.70% of the stock is currently owned by corporate insiders.

NextNav Price Performance

Shares of NASDAQ:NN traded down $0.11 during midday trading on Wednesday, hitting $14.62. 262,924 shares of the stock were exchanged, compared to its average volume of 1,334,443. The stock has a market cap of $1.95 billion, a P/E ratio of -11.36 and a beta of 1.04. The company has a current ratio of 14.97, a quick ratio of 14.97 and a debt-to-equity ratio of 32.42. NextNav Inc. has a twelve month low of $6.47 and a twelve month high of $18.54. The company has a 50 day moving average price of $14.70 and a 200-day moving average price of $12.98.

NextNav (NASDAQ:NN - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.16). NextNav had a negative net margin of 2,678.59% and a negative return on equity of 556.83%. The firm had revenue of $1.20 million during the quarter, compared to analyst estimates of $1.59 million. On average, research analysts forecast that NextNav Inc. will post -0.74 earnings per share for the current 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.