Rhumbline Advisers Increases Position in NextNav Inc. (NASDAQ:NN)

Rhumbline Advisers raised its position in NextNav Inc. (NASDAQ:NN) by 3.2% during the fourth quarter, Holdings Channel reports. The firm owned 99,516 shares of the company’s stock after buying an additional 3,075 shares during the quarter. Rhumbline Advisers’ holdings in NextNav were worth $1,548,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in NextNav by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 32,588 shares of the company’s stock valued at $244,000 after purchasing an additional 616 shares during the period. Van ECK Associates Corp raised its position in NextNav by 10.0% in the third quarter. Van ECK Associates Corp now owns 21,412 shares of the company’s stock valued at $160,000 after purchasing an additional 1,948 shares during the period. Ingalls & Snyder LLC raised its position in NextNav by 1.5% in the fourth quarter. Ingalls & Snyder LLC now owns 301,400 shares of the company’s stock valued at $4,690,000 after purchasing an additional 4,500 shares during the period. Golden State Wealth Management LLC purchased a new stake in NextNav in the fourth quarter valued at approximately $78,000. Finally, SG Americas Securities LLC increased its position in shares of NextNav by 30.2% during the fourth quarter. SG Americas Securities LLC now owns 35,612 shares of the company’s stock worth $554,000 after acquiring an additional 8,264 shares during the period. Hedge funds and other institutional investors own 79.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley upped their price objective on NextNav from $12.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th.

NextNav Stock Down 5.5 %

NextNav stock opened at $9.40 on Wednesday. NextNav Inc. has a twelve month low of $3.55 and a twelve month high of $18.54. The stock’s fifty day simple moving average is $12.85 and its 200-day simple moving average is $11.73. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $1.23 billion, a P/E ratio of -12.53 and a beta of 1.13.

Insider Transactions at NextNav

In related news, CFO Christian D. Gates sold 3,918 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $17.65, for a total value of $69,152.70. Following the transaction, the chief financial officer now owns 815,722 shares of the company’s stock, valued at $14,397,493.30. This represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Arun Raghupathy sold 3,332 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $18.32, for a total value of $61,042.24. Following the completion of the transaction, the senior vice president now directly owns 1,087,019 shares in the company, valued at $19,914,188.08. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,908 shares of company stock valued at $141,851. 15.70% of the stock is currently owned by company insiders.

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.