Ancora Advisors LLC Grows Holdings in NextNav Inc. (NASDAQ:NN)

Ancora Advisors LLC raised its stake in NextNav Inc. (NASDAQ:NN) by 14.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,016,250 shares of the company’s stock after buying an additional 261,000 shares during the period. Ancora Advisors LLC’s holdings in NextNav were worth $31,373,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. increased its position in NextNav by 170.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 27,000 shares of the company’s stock valued at $420,000 after purchasing an additional 17,000 shares during the period. Commonwealth Equity Services LLC boosted its position in NextNav by 1,580.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 216,625 shares of the company’s stock valued at $3,371,000 after acquiring an additional 203,734 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of NextNav by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 576,254 shares of the company’s stock valued at $8,967,000 after acquiring an additional 29,448 shares during the period. Rhumbline Advisers raised its position in shares of NextNav by 3.2% in the 4th quarter. Rhumbline Advisers now owns 99,516 shares of the company’s stock worth $1,548,000 after acquiring an additional 3,075 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of NextNav by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 1,731,051 shares of the company’s stock worth $26,941,000 after purchasing an additional 39,543 shares during the last quarter. 79.16% of the stock is currently owned by institutional investors.

Insider Transactions at NextNav

In other news, CAO Sammaad Shams sold 4,005 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $11.21, for a total value of $44,896.05. Following the completion of the transaction, the chief accounting officer now directly owns 81,100 shares in the company, valued at $909,131. This trade represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mariam Sorond sold 62,868 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 1,550,358 shares in the company, valued at approximately $17,410,520.34. This represents a 3.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,705 shares of company stock valued at $816,495. Corporate insiders own 7.70% of the company’s stock.

NextNav Price Performance

NN opened at $13.20 on Friday. The firm has a market capitalization of $1.75 billion, a PE ratio of -17.60 and a beta of 1.03. The business’s 50-day moving average is $11.70 and its two-hundred day moving average is $13.03. NextNav Inc. has a 1 year low of $6.47 and a 1 year high of $18.54. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01.

NextNav (NASDAQ:NN) last posted 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). The firm had revenue of $1.91 million for the quarter, compared to the consensus estimate of $1.73 million. NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. Research analysts anticipate that NextNav Inc. will post -0.74 earnings per share 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.