Empyrean Capital Partners LP Increases Holdings in NextNav Inc. (NASDAQ:NN)

Empyrean Capital Partners LP increased its stake in NextNav Inc. (NASDAQ:NN) by 56.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 660,845 shares of the company’s stock after buying an additional 238,845 shares during the period. Empyrean Capital Partners LP’s holdings in NextNav were worth $5,359,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in NextNav by 37.7% during the first quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock valued at $21,307,000 after purchasing an additional 887,075 shares during the period. Wolf Hill Capital Management LP grew its stake in shares of NextNav by 14.6% during the 2nd quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company’s stock worth $17,218,000 after acquiring an additional 269,754 shares during the period. Bank of New York Mellon Corp increased 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 acquiring an additional 70,343 shares during the last quarter. General American Investors Co. Inc. raised 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 valued at $7,418,000 after acquiring an additional 415,554 shares during the period. Finally, Jump Financial LLC bought a new position in NextNav during the fourth quarter worth about $73,000. Institutional investors own 79.16% of the company’s stock.

Insider Activity

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

NextNav Price Performance

NN opened at $7.15 on Thursday. The firm has a 50-day moving average price of $7.54 and a 200-day moving average price of $7.58. NextNav Inc. has a twelve month low of $3.55 and a twelve month high of $9.50. The company has a quick ratio of 5.93, a current ratio of 5.93 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $875.40 million, a price-to-earnings ratio of -9.05 and a beta of 1.06.

NextNav (NASDAQ:NN) last released 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). NextNav had a negative net margin of 2,181.52% and a negative return on equity of 134.05%. The business had revenue of $1.11 million during the quarter, compared to analysts’ expectations of $1.63 million. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. Equities analysts expect that NextNav Inc. will post -0.81 EPS for the current year.

NextNav Company 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.