Quinn Opportunity Partners LLC Sells 48,379 Shares of NextNav Inc. $NN

Quinn Opportunity Partners LLC reduced its holdings in shares of NextNav Inc. (NASDAQ:NN) by 31.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,450 shares of the company’s stock after selling 48,379 shares during the quarter. Quinn Opportunity Partners LLC owned 0.08% of NextNav worth $1,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in NextNav by 34.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 468,748 shares of the company’s stock valued at $5,705,000 after acquiring an additional 120,123 shares during the period. Swiss National Bank grew its stake in shares of NextNav by 27.3% in the first quarter. Swiss National Bank now owns 126,500 shares of the company’s stock worth $1,540,000 after acquiring an additional 27,100 shares during the period. MAI Capital Management raised its holdings in shares of NextNav by 2,376.9% during the first quarter. MAI Capital Management now owns 49,537 shares of the company’s stock valued at $603,000 after purchasing an additional 47,537 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of NextNav by 17.8% during the first quarter. Vanguard Group Inc. now owns 4,732,231 shares of the company’s stock valued at $57,591,000 after purchasing an additional 715,171 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in NextNav by 7.5% during the first quarter. Deutsche Bank AG now owns 72,557 shares of the company’s stock valued at $883,000 after purchasing an additional 5,065 shares during the period. 79.16% of the stock is currently owned by institutional investors.

NextNav Stock Performance

NN stock opened at $12.52 on Wednesday. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -9.63 and a beta of 0.99. The company has a quick ratio of 11.54, a current ratio of 11.53 and a debt-to-equity ratio of 32.42. NextNav Inc. has a twelve month low of $9.05 and a twelve month high of $18.54. The business’s fifty day simple moving average is $14.52 and its two-hundred day simple moving average is $14.43.

NextNav (NASDAQ:NN) last issued its earnings results on Thursday, November 6th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. NextNav had a negative net margin of 3,109.88% and a negative return on equity of 556.83%. The business had revenue of $0.89 million for the quarter, compared to analyst estimates of $1.13 million. Analysts predict that NextNav Inc. will post -0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NN. Zacks Research upgraded shares of NextNav from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $20.00.

About NextNav

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.