NextNav Inc. $NN Shares Bought by Wittenberg Investment Management Inc.

Wittenberg Investment Management Inc. raised its stake in NextNav Inc. (NASDAQ:NN) by 384.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 121,056 shares of the company’s stock after buying an additional 96,056 shares during the quarter. NextNav accounts for 0.8% of Wittenberg Investment Management Inc.’s portfolio, making the stock its 23rd biggest position. Wittenberg Investment Management Inc.’s holdings in NextNav were worth $2,014,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in NextNav by 1.5% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,253 shares of the company’s stock valued at $733,000 after acquiring an additional 714 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in NextNav by 0.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 200,213 shares of the company’s stock valued at $3,332,000 after acquiring an additional 863 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in NextNav by 347.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock valued at $37,000 after acquiring an additional 1,721 shares during the period. Alliancebernstein L.P. raised its holdings in shares of NextNav by 1.9% during the third quarter. Alliancebernstein L.P. now owns 97,530 shares of the company’s stock valued at $1,395,000 after buying an additional 1,824 shares during the last quarter. Finally, M&T Bank Corp raised its holdings in shares of NextNav by 17.1% during the fourth quarter. M&T Bank Corp now owns 12,906 shares of the company’s stock valued at $215,000 after buying an additional 1,887 shares during the last quarter. 79.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other NextNav news, CAO Sammaad Shams sold 3,945 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer owned 72,950 shares of the company’s stock, valued at approximately $1,425,443. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mariam Sorond sold 69,853 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $19.92, for a total value of $1,391,471.76. Following the completion of the transaction, the chief executive officer directly owned 1,244,495 shares in the company, valued at $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. Insiders sold a total of 101,133 shares of company stock worth $1,943,851 over the last three months. Corporate insiders own 7.80% of the company’s stock.

NextNav Stock Performance

NN opened at $21.50 on Monday. The business’s 50 day moving average is $19.78 and its 200-day moving average is $17.40. The stock has a market cap of $2.93 billion, a PE ratio of -17.77 and a beta of 1.04. NextNav Inc. has a twelve month low of $10.87 and a twelve month high of $24.42.

NextNav (NASDAQ:NN) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.03. The business had revenue of $1.00 million for the quarter, compared to the consensus estimate of $0.94 million. As a group, analysts forecast that NextNav Inc. will post -0.5 EPS for the current year.

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.