Invesco Ltd. Purchases 684,571 Shares of NextNav Inc. (NASDAQ:NN)

Invesco Ltd. increased its holdings in NextNav Inc. (NASDAQ:NN - Free Report) by 2,461.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 712,385 shares of the company's stock after acquiring an additional 684,571 shares during the period. Invesco Ltd. owned about 0.55% of NextNav worth $11,085,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NN. JPMorgan Chase & Co. lifted its stake in NextNav by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 32,588 shares of the company's stock valued at $244,000 after purchasing an additional 616 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in NextNav by 112.5% in the fourth quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company's stock valued at $30,000 after purchasing an additional 1,018 shares during the last quarter. US Bancorp DE purchased a new position in NextNav in the fourth quarter valued at approximately $28,000. Alliancebernstein L.P. lifted its stake in NextNav by 2.3% in the fourth quarter. Alliancebernstein L.P. now owns 87,760 shares of the company's stock valued at $1,366,000 after purchasing an additional 2,010 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in NextNav by 18.7% in the fourth quarter. Arizona State Retirement System now owns 14,645 shares of the company's stock valued at $228,000 after purchasing an additional 2,306 shares during the last quarter. 79.16% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

NextNav Stock Performance

NextNav stock traded up $0.50 during trading on Monday, hitting $12.25. The stock had a trading volume of 684,518 shares, compared to its average volume of 1,045,347. 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 stock's 50 day moving average is $11.60 and its two-hundred day moving average is $12.97. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -16.33 and a beta of 1.03.

NextNav (NASDAQ:NN - Get Free Report) last posted its earnings results on Wednesday, March 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.10). The company had revenue of $1.91 million for the quarter, compared to analysts' expectations of $1.73 million. NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. As a group, analysts predict that NextNav Inc. will post -0.74 EPS for the current year.

NextNav Company 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.