General American Investors Co. Inc. Sells 180,000 Shares of NextNav Inc. $NN

General American Investors Co. Inc. lowered its stake in NextNav Inc. (NASDAQ:NN) by 22.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 620,210 shares of the company’s stock after selling 180,000 shares during the period. General American Investors Co. Inc.’s holdings in NextNav were worth $9,936,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its position in NextNav by 6.6% in the 4th quarter. Russell Investments Group Ltd. now owns 10,950 shares of the company’s stock valued at $182,000 after buying an additional 675 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of NextNav by 1.5% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,253 shares of the company’s stock valued at $733,000 after acquiring an additional 714 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of NextNav by 0.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 200,213 shares of the company’s stock valued at $3,332,000 after acquiring an additional 863 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of NextNav by 347.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock valued at $37,000 after acquiring an additional 1,721 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of NextNav by 1.9% in the 3rd quarter. Alliancebernstein L.P. now owns 97,530 shares of the company’s stock valued at $1,395,000 after acquiring an additional 1,824 shares during the period. Institutional investors and hedge funds own 79.16% of the company’s stock.

Insider Transactions at NextNav

In other NextNav news, General Counsel James S. Black sold 1,878 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $22.96, for a total value of $43,118.88. Following the sale, the general counsel owned 91,688 shares in the company, valued at approximately $2,105,156.48. The trade was a 2.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Sammaad Shams sold 2,006 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $17.84, for a total value of $35,787.04. Following the transaction, the chief accounting officer directly owned 70,944 shares of the company’s stock, valued at approximately $1,265,640.96. This trade represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 76,567 shares of company stock valued at $1,522,252 over the last three months. Company insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

NN has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of NextNav from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. B. Riley Financial restated a “buy” rating on shares of NextNav in a research report on Thursday, April 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a report on Tuesday, April 21st. UBS Group set a $25.00 price target on NextNav in a report on Thursday, April 16th. Finally, Oppenheimer raised their price target on NextNav from $25.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.50.

NextNav Trading Down 5.4%

Shares of NN stock traded down $0.91 during trading hours on Friday, hitting $16.00. 1,607,055 shares of the company were exchanged, compared to its average volume of 2,164,142. NextNav Inc. has a 52 week low of $10.87 and a 52 week high of $24.42. The business has a 50 day moving average of $19.67 and a two-hundred day moving average of $17.65. The company has a market capitalization of $2.18 billion, a PE ratio of -13.22 and a beta of 1.06.

NextNav (NASDAQ:NN) last announced its earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.03. The company had revenue of $0.99 million during the quarter, compared to analyst estimates of $0.94 million. On average, research analysts forecast that NextNav Inc. will post -0.48 EPS for the current year.

NextNav 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.