Commonwealth Equity Services LLC Purchases 203,734 Shares of NextNav Inc. (NASDAQ:NN)

Commonwealth Equity Services LLC increased its stake in NextNav Inc. (NASDAQ:NN) by 1,580.4% during the 4th quarter, Holdings Channel reports. The firm owned 216,625 shares of the company’s stock after purchasing an additional 203,734 shares during the quarter. Commonwealth Equity Services LLC’s holdings in NextNav were worth $3,371,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. US Bancorp DE purchased a new position in shares of NextNav in the fourth quarter worth $28,000. Golden State Wealth Management LLC purchased a new stake in NextNav in the fourth quarter worth $78,000. King Luther Capital Management Corp bought a new stake in NextNav in the third quarter valued at $90,000. FMR LLC raised its holdings in NextNav by 354.3% in the 3rd quarter. FMR LLC now owns 16,418 shares of the company’s stock worth $123,000 after purchasing an additional 12,804 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of NextNav during the 3rd quarter valued at about $125,000. 79.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Mariam Sorond sold 62,868 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $11.23, for a total value of $706,007.64. Following the sale, the chief executive officer now owns 1,550,358 shares in the company, valued at approximately $17,410,520.34. This trade represents a 3.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 owns 81,100 shares of the company’s stock, valued at approximately $909,131. This represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,705 shares of company stock worth $816,495 in the last quarter. Corporate insiders own 15.70% of the company’s stock.

NextNav Stock Performance

NextNav stock opened at $12.76 on Tuesday. NextNav Inc. has a fifty-two week low of $6.19 and a fifty-two week high of $18.54. The stock’s 50 day simple moving average is $11.77 and its two-hundred day simple moving average is $12.15. 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 stock has a market cap of $1.68 billion, a price-to-earnings ratio of -17.01 and a beta of 1.17.

NextNav (NASDAQ:NN) last issued its quarterly earnings results on Wednesday, March 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.10). NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. The business had revenue of $1.91 million for the quarter, compared to analysts’ expectations of $1.73 million. As a group, analysts expect 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.