Ancora Advisors LLC Boosts Stock Position in NextNav Inc. (NASDAQ:NN)

Ancora Advisors LLC raised its stake in shares of NextNav Inc. (NASDAQ:NN) by 14.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,016,250 shares of the company’s stock after buying an additional 261,000 shares during the quarter. Ancora Advisors LLC owned about 1.54% of NextNav worth $31,373,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. US Bancorp DE bought a new position in shares of NextNav during the fourth quarter valued at $28,000. Russell Investments Group Ltd. boosted its holdings in shares of NextNav by 112.5% during the 4th quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company’s stock valued at $30,000 after acquiring an additional 1,018 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of NextNav in the fourth quarter worth approximately $78,000. Mission Wealth Management LP purchased a new stake in shares of NextNav during the 4th quarter valued at about $156,000. Finally, Wharton Business Group LLC purchased a new position in shares of NextNav in the fourth quarter worth approximately $156,000. 79.16% of the stock is owned by institutional investors.

NextNav Stock Up 3.4 %

Shares of NN stock opened at $13.20 on Friday. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. NextNav Inc. has a 12 month low of $6.47 and a 12 month high of $18.54. The stock has a market cap of $1.75 billion, a P/E ratio of -17.60 and a beta of 1.03. The company has a 50 day simple moving average of $11.70 and a two-hundred day simple moving average of $13.03.

NextNav (NASDAQ:NN) last released its earnings results on Wednesday, March 12th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.10). NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. The company had revenue of $1.91 million for the quarter, compared to analysts’ expectations of $1.73 million. On average, research analysts expect that NextNav Inc. will post -0.74 earnings per share for the current year.

Insider Activity

In related news, CFO Christian D. Gates sold 5,730 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $11.24, for a total transaction of $64,405.20. Following the completion of the transaction, the chief financial officer now directly owns 857,206 shares of the company’s stock, valued at approximately $9,634,995.44. This represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sammaad Shams sold 4,005 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $11.21, for a total value of $44,896.05. Following the transaction, the chief accounting officer now owns 81,100 shares of the company’s stock, valued at $909,131. This represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,705 shares of company stock worth $816,495 in the last three months. Company insiders own 7.70% of the company’s stock.

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.