NextNav Inc. (NASDAQ:NN) Shares Sold by Whitefort Capital Management LP

Whitefort Capital Management LP reduced its holdings in shares of NextNav Inc. (NASDAQ:NN) by 49.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 629,590 shares of the company’s stock after selling 623,241 shares during the quarter. NextNav makes up about 4.7% of Whitefort Capital Management LP’s portfolio, making the stock its 8th biggest holding. Whitefort Capital Management LP’s holdings in NextNav were worth $9,796,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. US Bancorp DE acquired a new position in shares of NextNav in the fourth quarter valued at approximately $28,000. Russell Investments Group Ltd. boosted its stake in NextNav by 112.5% in the 4th quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company’s stock valued at $30,000 after purchasing an additional 1,018 shares during the period. Golden State Wealth Management LLC acquired a new position in NextNav in the 4th quarter valued at $78,000. Mission Wealth Management LP acquired a new position in NextNav in the 4th quarter valued at $156,000. Finally, Wharton Business Group LLC bought a new position in NextNav during the 4th quarter worth $156,000. 79.16% of the stock is owned by institutional investors and hedge funds.

NextNav Stock Down 3.6%

NN opened at $13.44 on Tuesday. The stock has a fifty day moving average of $12.35 and a 200-day moving average of $13.31. The company has a market capitalization of $1.78 billion, a P/E ratio of -17.92 and a beta of 1.03. NextNav Inc. has a fifty-two week low of $6.47 and a fifty-two week high of $18.54. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.01 and a current ratio of 5.01.

NextNav (NASDAQ:NN) last released its quarterly earnings results on Friday, May 9th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. The business had revenue of $1.54 million for the quarter, compared to the consensus estimate of $1.87 million. On average, equities analysts expect that NextNav Inc. will post -0.74 EPS for the current year.

Insiders Place Their Bets

In other NextNav news, CEO Mariam Sorond sold 62,868 shares of NextNav stock in a transaction on Monday, March 17th. The stock was sold at an average price of $11.23, for a total value of $706,007.64. Following the completion of the transaction, the chief executive officer now directly owns 1,550,358 shares of the company’s stock, valued at $17,410,520.34. The trade was a 3.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sammaad Shams sold 4,005 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $11.21, for a total value of $44,896.05. Following the sale, the chief accounting officer now owns 81,100 shares of the company’s stock, valued at approximately $909,131. The trade was a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,705 shares of company stock worth $816,495 in the last quarter. Corporate insiders own 7.70% of the company’s stock.

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.