NextNav Inc. $NN Shares Sold by General American Investors Co. Inc.

General American Investors Co. Inc. cut its holdings in shares of NextNav Inc. (NASDAQ:NN) by 18.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 800,210 shares of the company’s stock after selling 176,765 shares during the period. General American Investors Co. Inc. owned about 0.59% of NextNav worth $13,315,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NN. Van ECK Associates Corp grew its stake in shares of NextNav by 79.5% during the fourth quarter. Van ECK Associates Corp now owns 1,379,524 shares of the company’s stock valued at $22,955,000 after acquiring an additional 611,179 shares in the last quarter. Susquehanna Advisors Group Inc. grew its stake in shares of NextNav by 12.1% during the third quarter. Susquehanna Advisors Group Inc. now owns 5,407,345 shares of the company’s stock valued at $77,325,000 after acquiring an additional 584,804 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of NextNav by 9.0% during the fourth quarter. Vanguard Group Inc. now owns 6,932,757 shares of the company’s stock valued at $115,361,000 after acquiring an additional 573,214 shares in the last quarter. Philosophy Capital Management LLC acquired a new stake in shares of NextNav during the third quarter valued at about $7,791,000. Finally, UBS Group AG grew its stake in shares of NextNav by 35.0% during the fourth quarter. UBS Group AG now owns 1,991,825 shares of the company’s stock valued at $33,144,000 after acquiring an additional 516,045 shares in the last quarter. 79.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on NN. Wall Street Zen upgraded NextNav from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. B. Riley Financial restated a “buy” rating on shares of NextNav in a research note on Thursday, April 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a research note on Tuesday, April 21st. Oppenheimer raised their target price on NextNav from $25.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Finally, UBS Group set a $25.00 target price on NextNav in a research note on Thursday, April 16th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, NextNav has an average rating of “Hold” and an average target price of $37.50.

NextNav Stock Down 5.6%

Shares of NN stock opened at $21.50 on Friday. The business has a 50 day moving average of $19.78 and a two-hundred day moving average of $17.37. NextNav Inc. has a 52 week low of $10.87 and a 52 week high of $24.42. The company has a market cap of $2.93 billion, a P/E ratio of -17.77 and a beta of 1.04.

NextNav (NASDAQ:NN) last issued its earnings results on Thursday, May 14th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.03. The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.94 million. Analysts expect that NextNav Inc. will post -0.5 EPS for the current fiscal year.

Insider Buying and Selling

In other NextNav news, CAO Sammaad Shams sold 3,945 shares of NextNav stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $19.54, for a total value of $77,085.30. Following the completion of the transaction, the chief accounting officer directly 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 legal filing with the SEC, which is available at this link. Also, General Counsel James S. Black sold 9,429 shares of NextNav stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $17.97, for a total value of $169,439.13. Following the completion of the transaction, the general counsel owned 93,566 shares of the company’s stock, valued at approximately $1,681,381.02. The trade was a 9.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 101,133 shares of company stock valued at $1,943,851. 7.80% of the stock is currently owned by insiders.

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.