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

Whitebox Advisors LLC trimmed its position in shares of NextNav Inc. (NASDAQ:NN - Free Report) by 49.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,299 shares of the company's stock after selling 35,700 shares during the quarter. Whitebox Advisors LLC's holdings in NextNav were worth $565,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE acquired a new position in shares of NextNav in the fourth quarter worth approximately $28,000. Russell Investments Group Ltd. boosted 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 bought a new position in NextNav during the fourth quarter worth $78,000. Mission Wealth Management LP bought a new stake in NextNav during the fourth quarter valued at $156,000. Finally, Wharton Business Group LLC acquired a new position in shares of NextNav in the 4th quarter valued at about $156,000. 79.16% of the stock is currently owned by institutional investors.

Insider Activity at NextNav

In related news, CFO Christian D. Gates sold 5,730 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $11.24, for a total value of $64,405.20. Following the completion of the transaction, the chief financial officer now directly owns 857,206 shares of the company's stock, valued at approximately $9,634,995.44. This trade represents a 0.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sammaad Shams sold 4,005 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $11.21, for a total transaction of $44,896.05. Following the sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,705 shares of company stock worth $816,495. Insiders own 7.70% of the company's stock.

NextNav Stock Performance

NASDAQ:NN traded up $0.09 during trading on Tuesday, reaching $13.10. The company's stock had a trading volume of 230,507 shares, compared to its average volume of 1,046,300. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -17.43 and a beta of 1.03. NextNav Inc. has a 12 month low of $6.47 and a 12 month high of $18.54. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.01 and a current ratio of 5.01. The firm has a 50 day moving average of $11.75 and a 200-day moving average of $13.13.

NextNav (NASDAQ:NN - Get Free Report) last announced its quarterly earnings data on Wednesday, March 12th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.10). NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. The company had revenue of $1.91 million during the quarter, compared to the consensus estimate of $1.73 million. Research analysts expect that NextNav Inc. will post -0.74 EPS for the current fiscal 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.