Renaissance Technologies LLC Takes Position in NextNav Inc. (NASDAQ:NN)

Renaissance Technologies LLC acquired a new stake in NextNav Inc. (NASDAQ:NN) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 49,768 shares of the company’s stock, valued at approximately $404,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NN. Perigon Wealth Management LLC raised its holdings in shares of NextNav by 9.4% in the 1st quarter. Perigon Wealth Management LLC now owns 35,000 shares of the company’s stock worth $230,000 after buying an additional 3,000 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of NextNav by 25.0% during the first quarter. Blair William & Co. IL now owns 50,000 shares of the company’s stock valued at $329,000 after acquiring an additional 10,000 shares during the period. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 887,075 shares during the last quarter. Wolf Hill Capital Management LP acquired a new stake in shares of NextNav during the 1st quarter worth about $12,195,000. Finally, PEAK6 Investments LLC increased its position in shares of NextNav by 31.0% during the 1st quarter. PEAK6 Investments LLC now owns 42,131 shares of the company’s stock worth $277,000 after purchasing an additional 9,976 shares in the last quarter. 79.16% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Neil S. Subin bought 125,000 shares of NextNav stock in a transaction on Monday, August 26th. The shares were purchased at an average price of $6.93 per share, for a total transaction of $866,250.00. Following the completion of the acquisition, the director now owns 2,490,213 shares in the company, valued at approximately $17,257,176.09. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other NextNav news, Director Neil S. Subin acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average price of $6.92 per share, with a total value of $692,000.00. Following the purchase, the director now owns 2,365,213 shares of the company’s stock, valued at $16,367,273.96. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Neil S. Subin bought 125,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was acquired at an average cost of $6.93 per share, with a total value of $866,250.00. Following the completion of the purchase, the director now owns 2,490,213 shares of the company’s stock, valued at approximately $17,257,176.09. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 15.70% of the stock is currently owned by company insiders.

NextNav Stock Performance

NN opened at $7.70 on Friday. NextNav Inc. has a 1-year low of $3.55 and a 1-year high of $9.50. The firm has a 50-day moving average price of $7.40 and a two-hundred day moving average price of $7.76. The stock has a market capitalization of $972.03 million, a PE ratio of -9.74 and a beta of 1.06. The company has a current ratio of 5.93, a quick ratio of 5.93 and a debt-to-equity ratio of 0.80.

NextNav (NASDAQ:NN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.07). The firm had revenue of $1.11 million for the quarter, compared to analyst estimates 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 period last year, the company earned ($0.15) EPS. As a group, equities analysts anticipate that NextNav Inc. will post -0.81 earnings per share for the current fiscal year.

NextNav Profile

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.