60,578 Shares in NextNav Inc. $NN Purchased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. acquired a new stake in shares of NextNav Inc. (NASDAQ:NN) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 60,578 shares of the company’s stock, valued at approximately $871,000.

Other institutional investors have also made changes to their positions in the company. Fulcrum Asset Management LLP purchased a new position in shares of NextNav in the third quarter valued at $669,000. Leelyn Smith LLC grew its holdings in NextNav by 1,047.2% during the 3rd quarter. Leelyn Smith LLC now owns 233,555 shares of the company’s stock valued at $3,359,000 after purchasing an additional 213,197 shares in the last quarter. CenterBook Partners LP grew its holdings in NextNav by 309.1% during the 3rd quarter. CenterBook Partners LP now owns 124,630 shares of the company’s stock valued at $1,792,000 after purchasing an additional 94,169 shares in the last quarter. General American Investors Co. Inc. purchased a new stake in NextNav during the 3rd quarter worth $10,063,000. Finally, Commonwealth Equity Services LLC purchased a new stake in NextNav during the 3rd quarter worth $5,319,000. 79.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NN. Odeon Capital Group began coverage on shares of NextNav in a report on Monday, July 20th. They issued a “buy” rating and a $22.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a research report on Thursday, October 15th. Wells Fargo & Company restated a “buy” rating on shares of NextNav in a research note on Monday, September 21st. Zacks Research downgraded NextNav from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. Finally, Clear Str raised NextNav to a “strong-buy” rating in a research report on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.33.

Insider Buying and Selling

In related news, General Counsel James Black sold 1,878 shares of NextNav stock in a transaction on Monday, September 14th. The shares were sold at an average price of $15.34, for a total value of $28,808.52. Following the completion of the sale, the general counsel owned 89,810 shares in the company, valued at approximately $1,377,685.40. The trade was a 2.05% 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. 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. Also, CEO Mariam Sorond sold 2,831 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $14.72, for a total transaction of $41,672.32. Following the completion of the sale, the chief executive officer directly owned 1,168,961 shares in the company, valued at $17,207,105.92. This represents a 0.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last quarter, insiders sold 87,667 shares of company stock worth $1,331,153. Insiders own 7.80% of the company’s stock.

NextNav Trading Up 0.2%

NN stock traded up $0.02 during midday trading on Friday, hitting $8.73. 2,022,556 shares of the company’s stock were exchanged, compared to its average volume of 3,556,882. NextNav Inc. has a 12-month low of $7.60 and a 12-month high of $24.42. The firm has a 50 day moving average price of $12.15 and a 200-day moving average price of $16.06. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -9.81 and a beta of 1.20.

NextNav (NASDAQ:NN) last announced its earnings results on Tuesday, November 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.08. The company had revenue of $1.58 million for the quarter, compared to analyst estimates of $0.99 million. NextNav had a negative return on equity of 129.25% and a negative net margin of 2,451.65%. On average, sell-side analysts forecast that NextNav Inc. will post -0.41 EPS for the current fiscal year.

NextNav Company Profile

NextNav, Inc. develops positioning, navigation and timing technologies designed to complement and help provide alternatives to satellite-based GPS. Its services support location-aware applications in environments where GPS signals may be limited, including indoors and in urban areas. The company’s offerings include Pinnacle, a service that provides vertical location information, such as a device’s floor or height within a building, and TerraPoiNT, a terrestrial network designed to deliver positioning and timing signals.