Wolf Hill Capital Management LP Boosts Stock Holdings in NextNav Inc. (NASDAQ:NN)

Wolf Hill Capital Management LP increased its position in shares of NextNav Inc. (NASDAQ:NN) by 14.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,123,062 shares of the company’s stock after buying an additional 269,754 shares during the period. NextNav accounts for 1.7% of Wolf Hill Capital Management LP’s holdings, making the stock its 14th biggest position. Wolf Hill Capital Management LP’s holdings in NextNav were worth $17,218,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of NextNav by 37.7% in the first quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock worth $21,307,000 after acquiring an additional 887,075 shares during the period. Bank of New York Mellon Corp raised its holdings 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 purchasing an additional 70,343 shares during the period. General American Investors Co. Inc. boosted its position in NextNav by 33.2% during the fourth quarter. General American Investors Co. Inc. now owns 1,666,915 shares of the company’s stock worth $7,418,000 after purchasing an additional 415,554 shares in the last quarter. Jump Financial LLC acquired a new stake in NextNav in the fourth quarter valued at approximately $73,000. Finally, Swiss National Bank purchased a new stake in shares of NextNav in the fourth quarter valued at approximately $335,000. Institutional investors and hedge funds own 79.16% of the company’s stock.

NextNav Trading Down 1.5 %

Shares of NASDAQ:NN opened at $7.69 on Friday. The business’s 50 day moving average price is $7.67 and its 200-day moving average price is $7.48. NextNav Inc. has a 1 year low of $3.55 and a 1 year high of $9.50. The firm has a market capitalization of $941.51 million, a price-to-earnings ratio of -9.73 and a beta of 1.06. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.93 and a quick ratio of 5.93.

NextNav (NASDAQ:NN) last announced its 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). NextNav had a negative net margin of 2,181.52% and a negative return on equity of 134.05%. The company had revenue of $1.11 million during the quarter, compared to analyst estimates of $1.63 million. During the same quarter last year, the business earned ($0.15) EPS. On average, equities research analysts forecast that NextNav Inc. will post -0.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, 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 purchased at an average cost of $6.93 per share, for a total transaction of $866,250.00. Following the completion of the transaction, the director now owns 2,490,213 shares of the company’s stock, valued at $17,257,176.09. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other NextNav news, Director Neil S. Subin purchased 125,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average cost of $6.93 per share, for a total transaction of $866,250.00. Following the completion of the transaction, the director now owns 2,490,213 shares of the company’s stock, valued at approximately $17,257,176.09. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Joseph D. Samberg acquired 81,200 shares of the business’s stock in a transaction on Monday, June 24th. The stock was acquired at an average price of $7.83 per share, with a total value of $635,796.00. Following the acquisition, the insider now owns 10,000,200 shares in the company, valued at approximately $78,301,566. The disclosure for this purchase can be found here. In the last three months, insiders have bought 306,200 shares of company stock worth $2,194,046. Insiders own 15.70% of the company’s stock.

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.