Jasper Ridge Partners L.P. Makes New $189,000 Investment in NextNav Inc. $NN

Jasper Ridge Partners L.P. acquired a new position in shares of NextNav Inc. (NASDAQ:NN) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 15,502 shares of the company’s stock, valued at approximately $189,000.

A number of other institutional investors have also recently modified their holdings of NN. Vanguard Group Inc. grew its holdings in shares of NextNav by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 4,732,231 shares of the company’s stock worth $57,591,000 after purchasing an additional 715,171 shares in the last quarter. Ancora Advisors LLC lifted its position in NextNav by 14.9% during the fourth quarter. Ancora Advisors LLC now owns 2,016,250 shares of the company’s stock worth $31,373,000 after purchasing an additional 261,000 shares during the period. General American Investors Co. Inc. grew its stake in NextNav by 31.0% during the first quarter. General American Investors Co. Inc. now owns 1,120,227 shares of the company’s stock worth $13,633,000 after buying an additional 265,227 shares in the last quarter. Invesco Ltd. increased its holdings in NextNav by 32.0% in the 1st quarter. Invesco Ltd. now owns 940,335 shares of the company’s stock valued at $11,444,000 after buying an additional 227,950 shares during the period. Finally, Northern Trust Corp increased its holdings in NextNav by 12.8% in the 4th quarter. Northern Trust Corp now owns 702,396 shares of the company’s stock valued at $10,929,000 after buying an additional 79,813 shares during the period. 79.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of NextNav to a “strong sell” rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, NextNav currently has an average rating of “Hold” and a consensus target price of $20.00.

NextNav Stock Performance

NASDAQ:NN opened at $15.53 on Friday. NextNav Inc. has a twelve month low of $6.47 and a twelve month high of $18.54. The company has a quick ratio of 14.97, a current ratio of 14.97 and a debt-to-equity ratio of 32.42. The stock’s 50-day simple moving average is $15.09 and its 200 day simple moving average is $13.12. The firm has a market capitalization of $2.07 billion, a PE ratio of -12.04 and a beta of 1.04.

NextNav (NASDAQ:NN) last posted its earnings results on Wednesday, August 6th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.16). The company had revenue of $1.20 million during the quarter, compared to the consensus estimate of $1.59 million. NextNav had a negative return on equity of 556.83% and a negative net margin of 2,678.59%. On average, analysts anticipate that NextNav Inc. will post -0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other NextNav news, CEO Mariam Sorond sold 69,853 shares of the company’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $14.38, for a total value of $1,004,486.14. Following the completion of the transaction, the chief executive officer owned 1,480,505 shares of the company’s stock, valued at $21,289,661.90. This represents a 4.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.70% of the stock is owned by corporate 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.