Commonwealth Equity Services LLC Boosts Stock Holdings in NextNav Inc. $NN

Commonwealth Equity Services LLC lifted its position in shares of NextNav Inc. (NASDAQ:NN) by 12.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 384,040 shares of the company’s stock after buying an additional 41,004 shares during the period. Commonwealth Equity Services LLC’s holdings in NextNav were worth $6,390,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in NN. Clearstead Advisors LLC acquired a new position in NextNav in the third quarter valued at $52,000. BNP Paribas Financial Markets boosted its holdings in NextNav by 64.4% in the second quarter. BNP Paribas Financial Markets now owns 8,918 shares of the company’s stock valued at $136,000 after acquiring an additional 3,493 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in NextNav by 451.2% in the third quarter. Russell Investments Group Ltd. now owns 10,275 shares of the company’s stock valued at $147,000 after acquiring an additional 8,411 shares during the last quarter. Prudential Financial Inc. acquired a new position in NextNav in the second quarter valued at $162,000. Finally, Tower Research Capital LLC TRC boosted its holdings in NextNav by 727.8% in the second quarter. Tower Research Capital LLC TRC now owns 10,885 shares of the company’s stock valued at $165,000 after acquiring an additional 9,570 shares during the last quarter. 79.16% of the stock is owned by hedge funds and other institutional investors.

NextNav Price Performance

Shares of NN opened at $21.60 on Friday. The stock’s 50-day moving average is $19.30 and its two-hundred day moving average is $17.05. The stock has a market cap of $2.95 billion, a PE ratio of -17.85 and a beta of 1.04. NextNav Inc. has a 12 month low of $10.87 and a 12 month high of $24.42.

NextNav (NASDAQ:NN) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.03. The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.94 million. On average, research analysts anticipate that NextNav Inc. will post -0.51 earnings per share for the current year.

Insider Buying and Selling

In other NextNav news, CAO Sammaad Shams sold 3,945 shares of the business’s stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $19.54, for a total transaction of $77,085.30. Following the transaction, the chief accounting officer owned 72,950 shares in the company, valued at $1,425,443. The trade was a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mariam Sorond sold 69,853 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $19.92, for a total value of $1,391,471.76. Following the transaction, the chief executive officer owned 1,244,495 shares in the company, valued at approximately $24,790,340.40. This represents a 5.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 101,133 shares of company stock worth $1,943,851. Company insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NN shares. B. Riley Financial reiterated a “buy” rating on shares of NextNav in a report on Thursday, April 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a report on Tuesday, April 21st. Wall Street Zen upgraded NextNav from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Oppenheimer lifted their target price on NextNav from $25.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, UBS Group set a $25.00 target price on NextNav in a report on Thursday, April 16th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, NextNav has a consensus rating of “Hold” and a consensus target price of $37.50.

About NextNav

NextNav, Inc is a provider of advanced 3D geolocation infrastructure and positioning services in the United States. The company operates a nationwide network designed to deliver real-time horizontal and vertical location data for consumer, enterprise and public safety applications. By leveraging spectrum holdings in the 900 MHz band, NextNav’s network offers precise altitude and position information that complements GPS and other satellite systems, particularly in urban canyons, indoors or underground environments where traditional signals struggle.

At the core of NextNav’s offering is its TerraPoiNT platform, which enables developers, carriers and emergency response centers to integrate high-accuracy vertical location into their applications and workflows.