LPL Financial LLC Grows Stake in NextNav Inc. (NASDAQ:NN)

LPL Financial LLC raised its position in shares of NextNav Inc. (NASDAQ:NN - Free Report) by 25.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 159,103 shares of the company's stock after buying an additional 32,564 shares during the quarter. LPL Financial LLC owned about 0.12% of NextNav worth $2,476,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NN. US Bancorp DE acquired a new position in NextNav during the 4th quarter valued at about $28,000. Golden State Wealth Management LLC acquired a new position in shares of NextNav during the fourth quarter valued at about $78,000. FMR LLC raised its position in shares of NextNav by 354.3% in the 3rd quarter. FMR LLC now owns 16,418 shares of the company's stock valued at $123,000 after purchasing an additional 12,804 shares during the last quarter. Wharton Business Group LLC acquired a new stake in NextNav in the 4th quarter worth approximately $156,000. Finally, Mission Wealth Management LP purchased a new stake in NextNav during the 4th quarter worth approximately $156,000. 79.16% of the stock is currently owned by institutional investors.

NextNav Stock Performance

Shares of NASDAQ NN traded down $0.13 during midday trading on Friday, reaching $11.81. The company had a trading volume of 764,482 shares, compared to its average volume of 1,047,585. NextNav Inc. has a 1 year low of $6.47 and a 1 year high of $18.54. The business's 50-day simple moving average is $11.70 and its 200 day simple moving average is $12.74. 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 stock has a market cap of $1.55 billion, a P/E ratio of -15.75 and a beta of 1.03.

NextNav (NASDAQ:NN - Get Free Report) last issued its earnings results on Wednesday, March 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.10). The firm had revenue of $1.91 million during 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%. On average, analysts forecast that NextNav Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Activity at NextNav

In other NextNav news, CEO Mariam Sorond sold 62,868 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $11.23, for a total value of $706,007.64. Following the completion of the transaction, the chief executive officer now directly owns 1,550,358 shares of the company's stock, valued at approximately $17,410,520.34. The trade was a 3.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Christian D. Gates sold 5,730 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 857,206 shares in the company, valued at $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 quarter. Insiders own 15.70% of the company's stock.

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.