Empyrean Capital Partners LP Has $21.55 Million Stake in NextNav Inc. (NASDAQ:NN)

Empyrean Capital Partners LP trimmed its holdings in shares of NextNav Inc. (NASDAQ:NN - Free Report) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,385,000 shares of the company's stock after selling 76,065 shares during the period. NextNav comprises approximately 1.0% of Empyrean Capital Partners LP's investment portfolio, making the stock its 28th biggest position. Empyrean Capital Partners LP owned approximately 1.06% of NextNav worth $21,551,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. US Bancorp DE purchased a new stake in NextNav in the 4th quarter worth approximately $28,000. Russell Investments Group Ltd. lifted its position 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 buying an additional 1,018 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in NextNav in the 4th quarter worth approximately $78,000. Mission Wealth Management LP purchased a new stake in NextNav in the 4th quarter worth approximately $156,000. Finally, Wharton Business Group LLC purchased a new stake in NextNav in the 4th quarter worth approximately $156,000. 79.16% of the stock is currently owned by institutional investors.

NextNav Stock Down 5.8%

Shares of NN traded down $0.81 during mid-day trading on Friday, hitting $13.12. 1,847,464 shares of the company's stock were exchanged, compared to its average volume of 1,056,072. The firm has a fifty day moving average of $12.03 and a two-hundred day moving average of $13.23. NextNav Inc. has a twelve month low of $6.47 and a twelve month high of $18.54. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -17.49 and a beta of 1.03. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81.

NextNav (NASDAQ:NN - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. The business had revenue of $1.54 million for the quarter, compared to analyst estimates of $1.87 million. On average, sell-side analysts forecast that NextNav Inc. will post -0.74 earnings per share for the current year.

Insiders Place Their Bets

In other NextNav news, CAO Sammaad Shams sold 4,005 shares of the business's stock in a transaction dated 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 directly owns 81,100 shares in the company, valued at $909,131. The trade was a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mariam Sorond sold 62,868 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $11.23, for a total transaction of $706,007.64. Following the completion of the transaction, the chief executive officer now owns 1,550,358 shares in the company, valued at approximately $17,410,520.34. This trade represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,705 shares of company stock worth $816,495 in the last ninety days. Insiders own 7.70% of the company's stock.

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.