Insider Buying: NextNav Inc. (NASDAQ:NN) Major Shareholder Buys 81,200 Shares of Stock

NextNav Inc. (NASDAQ:NN) major shareholder Joseph D. Samberg acquired 81,200 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was bought at an average price of $7.83 per share, with a total value of $635,796.00. Following the acquisition, the insider now directly owns 10,000,200 shares of the company’s stock, valued at approximately $78,301,566. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

NextNav Stock Up 1.7 %

NASDAQ:NN opened at $7.88 on Tuesday. NextNav Inc. has a 1 year low of $2.77 and a 1 year high of $9.50. The company has a current ratio of 4.01, a quick ratio of 4.01 and a debt-to-equity ratio of 0.87. The stock has a market cap of $964.77 million, a price-to-earnings ratio of -9.97 and a beta of 1.08. The stock has a 50-day moving average price of $7.99 and a two-hundred day moving average price of $5.91.

NextNav (NASDAQ:NN) last posted its earnings results on Wednesday, May 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.14). NextNav had a negative net margin of 2,133.30% and a negative return on equity of 109.93%. The business had revenue of $1.05 million during the quarter, compared to analyst estimates of $1.23 million. As a group, equities analysts expect that NextNav Inc. will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of NextNav by 37.7% during the first quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock worth $21,307,000 after buying an additional 887,075 shares during the period. Wolf Hill Capital Management LP acquired a new position in shares of NextNav during the first quarter worth about $12,195,000. General American Investors Co. Inc. boosted its position in shares of NextNav by 33.2% during the fourth quarter. General American Investors Co. Inc. now owns 1,666,915 shares of the company’s stock worth $7,418,000 after buying an additional 415,554 shares during the period. Ancora Advisors LLC boosted its position in shares of NextNav by 4.7% during the first quarter. Ancora Advisors LLC now owns 265,797 shares of the company’s stock worth $1,749,000 after buying an additional 12,000 shares during the period. Finally, Swiss National Bank acquired a new position in shares of NextNav during the fourth quarter worth about $335,000. 79.16% of the stock is owned by institutional investors and hedge funds.

About NextNav

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.