Whitefort Capital Management LP Cuts Stock Position in NextNav Inc. (NASDAQ:NN)

Whitefort Capital Management LP trimmed its holdings in shares of NextNav Inc. (NASDAQ:NN) by 49.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 629,590 shares of the company’s stock after selling 623,241 shares during the quarter. NextNav accounts for 4.7% of Whitefort Capital Management LP’s holdings, making the stock its 8th biggest position. Whitefort Capital Management LP owned approximately 0.48% of NextNav worth $9,796,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Barclays PLC boosted its holdings in shares of NextNav by 29.2% in the third quarter. Barclays PLC now owns 291,964 shares of the company’s stock valued at $2,187,000 after buying an additional 66,039 shares during the period. JPMorgan Chase & Co. boosted its stake in NextNav by 1.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 32,588 shares of the company’s stock worth $244,000 after purchasing an additional 616 shares during the period. SG Americas Securities LLC boosted its stake in NextNav by 30.2% in the 4th quarter. SG Americas Securities LLC now owns 35,612 shares of the company’s stock worth $554,000 after purchasing an additional 8,264 shares during the period. Golden State Wealth Management LLC bought a new position in NextNav during the 4th quarter worth about $78,000. Finally, Van ECK Associates Corp raised its stake in shares of NextNav by 268.1% in the 4th quarter. Van ECK Associates Corp now owns 78,815 shares of the company’s stock valued at $1,226,000 after purchasing an additional 57,403 shares during the period. 79.16% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Sammaad Shams sold 4,005 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were 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 of the company’s stock, valued at approximately $909,131. This trade represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mariam Sorond sold 62,868 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $11.23, for a total transaction of $706,007.64. Following the transaction, the chief executive officer now owns 1,550,358 shares in the company, 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. Insiders have sold 72,705 shares of company stock worth $816,495 over the last ninety days. Insiders own 7.70% of the company’s stock.

NextNav Stock Performance

Shares of NextNav stock opened at $13.44 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -17.92 and a beta of 1.03. The stock’s 50-day moving average is $12.35 and its 200-day moving average is $13.31. NextNav Inc. has a one year low of $6.47 and a one year high of $18.54.

NextNav (NASDAQ:NN) last released its 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 net margin of 1,732.92% and a negative return on equity of 128.95%. The firm had revenue of $1.54 million during the quarter, compared to the consensus estimate of $1.87 million. Equities analysts predict 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.