NextNav Inc. $NN Shares Acquired by Leelyn Smith LLC

Leelyn Smith LLC boosted its holdings in NextNav Inc. (NASDAQ:NN) by 1,047.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 233,555 shares of the company’s stock after purchasing an additional 213,197 shares during the quarter. Leelyn Smith LLC’s holdings in NextNav were worth $3,359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. CenterBook Partners LP lifted its holdings in shares of NextNav by 309.1% during the third 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 during the last quarter. General American Investors Co. Inc. bought a new stake in shares of NextNav in the 3rd quarter worth approximately $10,063,000. Commonwealth Equity Services LLC purchased a new stake in shares of NextNav in the 3rd quarter worth approximately $5,319,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of NextNav in the 3rd quarter worth approximately $111,000. Finally, ProShare Advisors LLC purchased a new stake in shares of NextNav in the 3rd quarter worth approximately $183,000. Institutional investors own 79.16% of the company’s stock.

Insider Activity at NextNav

In other NextNav news, CFO Timothy Gray sold 11,099 shares of NextNav stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $14.64, for a total value of $162,489.36. Following the completion of the sale, the chief financial officer owned 120,687 shares of the company’s stock, valued at approximately $1,766,857.68. This trade represents a 8.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 business’s stock in a transaction on Thursday, September 3rd. The stock was 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 owned 1,171,792 shares of the company’s stock, valued at $17,928,417.60. This represents a 5.63% decrease in their position. 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. In the last three months, insiders have sold 87,667 shares of company stock valued at $1,331,153. 7.80% of the stock is owned by corporate insiders.

NextNav Stock Performance

Shares of NASDAQ NN opened at $8.61 on Friday. The firm’s 50 day moving average price is $12.83 and its 200-day moving average price is $16.25. The company has a market cap of $1.45 billion, a PE ratio of -8.88 and a beta of 1.20. NextNav Inc. has a 52-week low of $7.60 and a 52-week high of $24.42.

NextNav (NASDAQ:NN) last posted its quarterly 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 firm had revenue of $1.15 million for the quarter, compared to analysts’ expectations of $0.92 million. NextNav had a negative net margin of 3,232.19% and a negative return on equity of 211.25%. On average, analysts forecast that NextNav Inc. will post -0.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.