JPMorgan Chase & Co. Has $1.51 Million Stake in NextNav Inc. $NN

JPMorgan Chase & Co. grew its holdings in NextNav Inc. (NASDAQ:NN) by 70.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,466 shares of the company’s stock after purchasing an additional 43,694 shares during the period. JPMorgan Chase & Co. owned about 0.08% of NextNav worth $1,508,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in NN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in NextNav by 8.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,539 shares of the company’s stock worth $579,000 after buying an additional 3,543 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in NextNav by 34.5% in the first quarter. Goldman Sachs Group Inc. now owns 468,748 shares of the company’s stock worth $5,705,000 after buying an additional 120,123 shares during the last quarter. Creative Planning increased its holdings in NextNav by 81.5% in the second quarter. Creative Planning now owns 29,184 shares of the company’s stock worth $444,000 after buying an additional 13,109 shares during the last quarter. Legal & General Group Plc increased its holdings in NextNav by 23.3% in the second quarter. Legal & General Group Plc now owns 68,946 shares of the company’s stock worth $1,048,000 after buying an additional 13,027 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in NextNav by 18.4% in the second quarter. Rhumbline Advisers now owns 125,443 shares of the company’s stock worth $1,907,000 after buying an additional 19,514 shares during the last quarter. Institutional investors and hedge funds own 79.16% of the company’s stock.

NextNav Trading Down 3.1%

NextNav stock opened at $14.59 on Thursday. NextNav Inc. has a 1 year low of $10.66 and a 1 year high of $19.91. The company has a market cap of $1.98 billion, a PE ratio of -9.47 and a beta of 0.98. The company’s 50-day moving average is $16.45 and its two-hundred day moving average is $15.26.

NextNav (NASDAQ:NN) last released its earnings results on Tuesday, March 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.13). The business had revenue of $0.95 million for the quarter, compared to analyst estimates of $0.86 million. Research analysts forecast that NextNav Inc. will post -0.74 EPS for the current year.

Insider Buying and Selling at NextNav

In other NextNav news, CEO Mariam Sorond sold 69,853 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $16.91, for a total transaction of $1,181,214.23. Following the transaction, the chief executive officer directly owned 1,270,946 shares in the company, valued at approximately $21,491,696.86. This represents a 5.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel James S. Black sold 9,429 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $17.97, for a total value of $169,439.13. Following the transaction, the general counsel owned 93,566 shares in the company, valued at approximately $1,681,381.02. This trade represents a 9.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 101,133 shares of company stock valued at $1,733,594. 7.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NN shares. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a report on Thursday, January 22nd. Wall Street Zen downgraded NextNav from a “hold” rating to a “strong sell” rating in a report on Saturday, March 21st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, NextNav currently has an average rating of “Reduce”.

NextNav Company Profile

NextNav, Inc is a provider of advanced 3D geolocation infrastructure and positioning services in the United States. The company operates a nationwide network designed to deliver real-time horizontal and vertical location data for consumer, enterprise and public safety applications. By leveraging spectrum holdings in the 900 MHz band, NextNav’s network offers precise altitude and position information that complements GPS and other satellite systems, particularly in urban canyons, indoors or underground environments where traditional signals struggle.

At the core of NextNav’s offering is its TerraPoiNT platform, which enables developers, carriers and emergency response centers to integrate high-accuracy vertical location into their applications and workflows.