NextNav Inc. $NN Stock Holdings Raised by CenterBook Partners LP

CenterBook Partners LP lifted its position in shares of NextNav Inc. (NASDAQ:NN) by 309.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 124,630 shares of the company’s stock after buying an additional 94,169 shares during the quarter. CenterBook Partners LP’s holdings in NextNav were worth $1,792,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sona Asset Management US LLC boosted its stake in NextNav by 37.9% during the 1st quarter. Sona Asset Management US LLC now owns 521,477 shares of the company’s stock valued at $8,354,000 after purchasing an additional 143,349 shares during the last quarter. State Street Corp increased its holdings in shares of NextNav by 4.8% in the 2nd quarter. State Street Corp now owns 2,343,255 shares of the company’s stock worth $41,780,000 after purchasing an additional 108,338 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new position in shares of NextNav in the second quarter worth $4,012,000. Squarepoint Ops LLC raised its stake in shares of NextNav by 592.0% in the second quarter. Squarepoint Ops LLC now owns 113,073 shares of the company’s stock worth $2,016,000 after purchasing an additional 96,734 shares during the last quarter. Finally, General American Investors Co. Inc. purchased a new position in shares of NextNav in the third quarter worth $10,063,000. 79.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NN. Zacks Research downgraded NextNav from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Wall Street Zen downgraded NextNav from a “hold” rating to a “sell” rating in a report on Sunday, September 27th. Wells Fargo & Company reissued a “buy” rating on shares of NextNav in a research report on Monday, September 21st. Clear Str raised NextNav to a “strong-buy” rating in a research report on Monday, September 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a research note on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, NextNav presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

Insider Transactions at NextNav

In related news, CFO Timothy Gray sold 11,099 shares of the company’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $14.64, for a total transaction of $162,489.36. Following the completion of the sale, the chief financial officer owned 120,687 shares in the company, valued at approximately $1,766,857.68. This represents a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mariam Sorond sold 69,853 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $15.30, for a total value of $1,068,750.90. Following the completion of the transaction, the chief executive officer directly owned 1,171,792 shares in the company, valued at approximately $17,928,417.60. This represents a 5.63% 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 have sold a total of 87,667 shares of company stock worth $1,331,153 in the last ninety days. Insiders own 7.80% of the company’s stock.

NextNav Price Performance

Shares of NextNav stock opened at $8.61 on Monday. NextNav Inc. has a twelve month low of $7.60 and a twelve month high of $24.42. The company’s 50 day moving average is $12.83 and its 200 day moving average is $16.25. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -8.88 and a beta of 1.20.

NextNav (NASDAQ:NN) last posted its earnings results on Tuesday, August 11th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). The company had revenue of $1.15 million during the quarter, compared to the consensus estimate of $0.92 million. NextNav had a negative return on equity of 211.25% and a negative net margin of 3,232.19%. Sell-side analysts expect that NextNav Inc. will post -0.46 EPS for the current fiscal year.

About NextNav

NextNav Inc (NASDAQ:NN) develops positioning, navigation and timing technologies designed to provide reliable location information in environments where traditional GPS and satellite-based systems may be unavailable, inaccurate or vulnerable to disruption. The company’s services are intended for applications in communications, public safety, transportation, logistics, mapping and other industries that rely on precise location and timing data.

NextNav’s primary products include Pinnacle, a terrestrial network that provides three-dimensional positioning, including accurate altitude information, and TerraPoiNT, a terrestrial positioning, navigation and timing system designed to complement or serve as an alternative to GPS.