Wolverine Asset Management LLC Makes New Investment in NextNav Inc. (NASDAQ:NN)

Wolverine Asset Management LLC bought a new position in NextNav Inc. (NASDAQ:NNGet Rating) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,882 shares of the company’s stock, valued at approximately $29,000.

Several other institutional investors have also recently made changes to their positions in NN. Goldman Sachs Group Inc. acquired a new position in shares of NextNav in the fourth quarter worth $78,415,000. Oak Management Corp purchased a new stake in shares of NextNav in the fourth quarter valued at about $50,728,000. American Financial Group Inc. purchased a new stake in shares of NextNav in the fourth quarter valued at about $4,380,000. Kepos Capital LP purchased a new stake in shares of NextNav in the fourth quarter valued at about $876,000. Finally, B. Riley Asset Management LLC acquired a new position in shares of NextNav during the fourth quarter worth about $599,000. Hedge funds and other institutional investors own 66.47% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Timothy M. Presutti purchased 146,422 shares of the business’s stock in a transaction on Thursday, July 14th. The shares were bought at an average price of $2.65 per share, with a total value of $388,018.30. Following the completion of the purchase, the insider now directly owns 4,857,319 shares in the company, valued at approximately $12,871,895.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other NextNav news, major shareholder Timothy M. Presutti acquired 200,000 shares of the company’s stock in a transaction dated Monday, June 13th. The stock was bought at an average price of $2.32 per share, with a total value of $464,000.00. Following the completion of the transaction, the insider now directly owns 11,266,004 shares of the company’s stock, valued at $26,137,129.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Timothy M. Presutti acquired 146,422 shares of the company’s stock in a transaction dated Thursday, July 14th. The stock was acquired at an average cost of $2.65 per share, with a total value of $388,018.30. Following the transaction, the insider now directly owns 4,857,319 shares of the company’s stock, valued at $12,871,895.35. The disclosure for this purchase can be found here. Insiders have purchased a total of 5,136,331 shares of company stock valued at $18,657,789 over the last quarter. Company insiders own 15.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. R. F. Lafferty dropped their price target on shares of NextNav from $16.00 to $15.00 in a research note on Monday, May 16th. B. Riley lowered their target price on shares of NextNav from $17.00 to $14.25 in a research report on Friday, May 13th.

NextNav Price Performance

Shares of NN opened at $2.80 on Friday. The company’s 50 day simple moving average is $2.61 and its 200 day simple moving average is $5.21. NextNav Inc. has a 1 year low of $1.85 and a 1 year high of $15.32.

NextNav (NASDAQ:NNGet Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. The firm had revenue of $1.20 million for the quarter, compared to analysts’ expectations of $0.81 million. Sell-side analysts predict that NextNav Inc. will post -0.46 earnings per share for the current year.

NextNav Company Profile

(Get Rating)

NextNav Inc provides next generation global positioning system (GPS) and 3D geolocation services. The company delivers next generation positioning, navigation, and timing solutions through its network-based Pinnacle and TerraPoiNT solutions. Its Pinnacle 3D geolocation service is commercially available in approximately 4,400 cities and towns in the United States; and its TerraPoiNT terrestrial-based encrypted network has deployments in 51 total markets nationally.

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Institutional Ownership by Quarter for NextNav (NASDAQ:NN)

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