Whitebox Advisors LLC Trims Stock Holdings in NextNav Inc. (NASDAQ:NN)

Whitebox Advisors LLC decreased its holdings in shares of NextNav Inc. (NASDAQ:NN - Free Report) by 49.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 36,299 shares of the company's stock after selling 35,700 shares during the period. Whitebox Advisors LLC's holdings in NextNav were worth $565,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. US Bancorp DE acquired a new position in shares of NextNav in the fourth quarter worth $28,000. Russell Investments Group Ltd. grew its stake in shares of NextNav by 112.5% in the 4th 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. Golden State Wealth Management LLC purchased a new stake in shares of NextNav in the fourth quarter valued at approximately $78,000. Mission Wealth Management LP purchased a new stake in NextNav during the fourth quarter worth $156,000. Finally, Wharton Business Group LLC acquired a new position in shares of NextNav in the fourth quarter worth $156,000. Hedge funds and other institutional investors own 79.16% of the company's stock.

Insider Buying and Selling

In related news, CAO Sammaad Shams sold 4,005 shares of NextNav stock in a transaction on Monday, March 17th. The stock was sold at an average price of $11.21, for a total transaction of $44,896.05. Following the completion of the sale, the chief accounting officer now directly owns 81,100 shares of the company's stock, valued at $909,131. The trade was a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 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 disclosure for this sale can be found here. Over the last three months, insiders sold 72,705 shares of company stock worth $816,495. Corporate insiders own 7.70% of the company's stock.

NextNav Price Performance

NN stock opened at $12.42 on Thursday. The stock has a 50-day moving average price of $11.62 and a two-hundred day moving average price of $12.96. NextNav Inc. has a 12-month low of $6.47 and a 12-month high of $18.54. 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 company has a market cap of $1.64 billion, a PE ratio of -16.56 and a beta of 1.03.

NextNav (NASDAQ:NN - Get Free Report) last released its earnings results on Wednesday, March 12th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.10). The business had revenue of $1.91 million for the quarter, compared to the consensus estimate of $1.73 million. NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. As a group, research 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.

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