UBS Group AG Buys 516,045 Shares of NextNav Inc. $NN

UBS Group AG lifted its stake in NextNav Inc. (NASDAQ:NN) by 35.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,991,825 shares of the company’s stock after acquiring an additional 516,045 shares during the period. UBS Group AG’s holdings in NextNav were worth $33,144,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NN. Susquehanna Advisors Group Inc. boosted its holdings in shares of NextNav by 12.1% in the third quarter. Susquehanna Advisors Group Inc. now owns 5,407,345 shares of the company’s stock worth $77,325,000 after acquiring an additional 584,804 shares during the period. Vanguard Group Inc. raised its position in shares of NextNav by 9.0% in the fourth quarter. Vanguard Group Inc. now owns 6,932,757 shares of the company’s stock worth $115,361,000 after buying an additional 573,214 shares in the last quarter. Philosophy Capital Management LLC purchased a new stake in shares of NextNav in the third quarter worth $7,791,000. Van ECK Associates Corp raised its position in shares of NextNav by 111.7% in the third quarter. Van ECK Associates Corp now owns 768,345 shares of the company’s stock worth $10,987,000 after buying an additional 405,359 shares in the last quarter. Finally, First Trust Advisors LP purchased a new stake in shares of NextNav in the second quarter worth $4,726,000. 79.16% of the stock is owned by institutional investors.

NextNav Trading Up 1.4%

Shares of NASDAQ:NN opened at $19.79 on Friday. The stock’s 50-day moving average price is $17.50 and its 200-day moving average price is $15.78. NextNav Inc. has a 12-month low of $10.84 and a 12-month high of $24.19. The stock has a market capitalization of $2.69 billion, a P/E ratio of -12.85 and a beta of 1.03.

NextNav (NASDAQ:NN) last announced its quarterly earnings data on Tuesday, March 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.13). The company had revenue of $0.95 million for the quarter, compared to the consensus estimate of $0.86 million. As a group, research analysts predict that NextNav Inc. will post -0.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NN. B. Riley Financial reiterated a “buy” rating on shares of NextNav in a research report on Thursday, April 23rd. UBS Group set a $25.00 price objective on NextNav in a research report on Thursday, April 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a research report on Tuesday, April 21st. Oppenheimer upgraded NextNav from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a research report on Thursday, April 16th. Finally, Wall Street Zen downgraded NextNav from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 21st. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.00.

Insider Buying and Selling

In other news, CAO Sammaad Shams sold 3,945 shares of the firm’s stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $19.54, for a total transaction of $77,085.30. Following the transaction, the chief accounting officer directly owned 72,950 shares of the company’s stock, valued at approximately $1,425,443. This trade represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Timothy Gray sold 1,405 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $18.11, for a total value of $25,444.55. Following the completion of the sale, the chief financial officer directly owned 131,786 shares in the company, valued at $2,386,644.46. The trade was a 1.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 101,133 shares of company stock valued at $1,733,594 over the last three months. 7.80% of the stock is owned by corporate insiders.

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.