AQR Capital Management LLC Lowers Stock Position in NextNav Inc. (NASDAQ:NN)

AQR Capital Management LLC trimmed its position in NextNav Inc. (NASDAQ:NN) by 5.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,304 shares of the company’s stock after selling 1,556 shares during the quarter. AQR Capital Management LLC’s holdings in NextNav were worth $221,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of NextNav by 37.7% in the first quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock valued at $21,307,000 after acquiring an additional 887,075 shares in the last quarter. Wolf Hill Capital Management LP lifted its holdings in NextNav by 14.6% in the 2nd quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company’s stock worth $17,218,000 after purchasing an additional 269,754 shares in the last quarter. Marshall Wace LLP bought a new position in NextNav in the 2nd quarter worth approximately $1,571,000. Bank of New York Mellon Corp grew its holdings in NextNav by 47.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 217,143 shares of the company’s stock valued at $1,761,000 after buying an additional 70,343 shares in the last quarter. Finally, PEAK6 Investments LLC raised its position in shares of NextNav by 31.0% during the first quarter. PEAK6 Investments LLC now owns 42,131 shares of the company’s stock valued at $277,000 after buying an additional 9,976 shares during the last quarter. 79.16% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NextNav

In other NextNav news, Director Neil S. Subin purchased 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $6.92 per share, with a total value of $692,000.00. Following the completion of the purchase, the director now directly owns 2,365,213 shares in the company, valued at $16,367,273.96. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other NextNav news, Director Neil S. Subin purchased 125,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average price of $6.93 per share, with a total value of $866,250.00. Following the acquisition, the director now owns 2,490,213 shares in the company, valued at approximately $17,257,176.09. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Neil S. Subin purchased 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $6.92 per share, for a total transaction of $692,000.00. Following the acquisition, the director now directly owns 2,365,213 shares in the company, valued at $16,367,273.96. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 11.30% of the company’s stock.

NextNav Price Performance

Shares of NASDAQ:NN opened at $8.25 on Friday. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -9.71 and a beta of 1.06. The firm has a fifty day moving average price of $7.46 and a 200 day moving average price of $7.80. NextNav Inc. has a fifty-two week low of $3.55 and a fifty-two week high of $9.50. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.93 and a current ratio of 5.93.

NextNav (NASDAQ:NN) last posted its earnings results on Wednesday, August 7th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). NextNav had a negative return on equity of 134.05% and a negative net margin of 2,181.52%. The firm had revenue of $1.11 million during the quarter, compared to analysts’ expectations of $1.63 million. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. As a group, sell-side analysts expect that NextNav Inc. will post -0.81 earnings per share for the current fiscal year.

NextNav 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.