Torno Capital LLC Sells 132,500 Shares of NextNav Inc. (NASDAQ:NN)

Torno Capital LLC reduced its stake in NextNav Inc. (NASDAQ:NN) by 44.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 167,500 shares of the company’s stock after selling 132,500 shares during the quarter. Torno Capital LLC’s holdings in NextNav were worth $1,358,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in NextNav by 37.7% in the 1st quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock worth $21,307,000 after buying an additional 887,075 shares in the last quarter. Wolf Hill Capital Management LP increased its stake in NextNav by 14.6% in the 2nd quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company’s stock worth $17,218,000 after buying an additional 269,754 shares in the last quarter. Bank of New York Mellon Corp increased its stake in NextNav by 47.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 217,143 shares of the company’s stock worth $1,761,000 after buying an additional 70,343 shares in the last quarter. General American Investors Co. Inc. increased its stake in NextNav by 33.2% in the 4th quarter. General American Investors Co. Inc. now owns 1,666,915 shares of the company’s stock worth $7,418,000 after buying an additional 415,554 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in NextNav in the 4th quarter worth $73,000. 79.16% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Neil S. Subin acquired 125,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was purchased at an average price of $6.93 per share, for a total transaction of $866,250.00. Following the completion of the transaction, the director now directly owns 2,490,213 shares in the company, valued at approximately $17,257,176.09. The acquisition was disclosed in a filing with the SEC, which is available through this link. In related news, Director Neil S. Subin purchased 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $6.92 per share, for a total transaction of $692,000.00. Following the completion of the transaction, the director now owns 2,365,213 shares in the company, valued at approximately $16,367,273.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Neil S. Subin purchased 125,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was bought at an average price of $6.93 per share, with a total value of $866,250.00. Following the transaction, the director now owns 2,490,213 shares of the company’s stock, valued at approximately $17,257,176.09. The disclosure for this purchase can be found here. Company insiders own 15.70% of the company’s stock.

NextNav Trading Down 9.1 %

Shares of NN stock opened at $6.99 on Tuesday. NextNav Inc. has a 52-week low of $3.55 and a 52-week high of $9.50. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.93 and a current ratio of 5.93. The firm has a market capitalization of $855.81 million, a PE ratio of -8.85 and a beta of 1.06. The stock has a fifty day simple moving average of $7.62 and a two-hundred day simple moving average of $7.56.

NextNav (NASDAQ:NN) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The firm had revenue of $1.11 million for the quarter, compared to analysts’ expectations of $1.63 million. NextNav had a negative net margin of 2,181.52% and a negative return on equity of 134.05%. During the same quarter in the previous year, the business earned ($0.15) EPS. On average, analysts predict that NextNav Inc. will post -0.81 EPS for the current fiscal year.

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.