General American Investors Co. Inc. Has $13.97 Million Position in NextNav Inc. $NN

General American Investors Co. Inc. cut its position in NextNav Inc. (NASDAQ:NN) by 12.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 976,975 shares of the company’s stock after selling 143,252 shares during the period. General American Investors Co. Inc.’s holdings in NextNav were worth $13,971,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NN. Geode Capital Management LLC boosted its position in NextNav by 6.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,933,030 shares of the company’s stock worth $29,385,000 after buying an additional 115,261 shares during the period. Squarepoint Ops LLC raised its stake in shares of NextNav by 419.1% during the second quarter. Squarepoint Ops LLC now owns 125,546 shares of the company’s stock valued at $1,908,000 after acquiring an additional 101,360 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of NextNav during the second quarter valued at $441,000. Ingalls & Snyder LLC lifted its holdings in shares of NextNav by 10.6% during the second quarter. Ingalls & Snyder LLC now owns 513,850 shares of the company’s stock worth $7,811,000 after purchasing an additional 49,170 shares during the period. Finally, DCF Advisers LLC grew its stake in shares of NextNav by 53.8% in the second quarter. DCF Advisers LLC now owns 20,000 shares of the company’s stock worth $304,000 after purchasing an additional 7,000 shares during the last quarter. 79.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NN has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a report on Thursday. Wall Street Zen upgraded NextNav from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Finally, Zacks Research upgraded NextNav from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Insider Activity at NextNav

In other NextNav news, CEO Mariam Sorond sold 69,853 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $13.82, for a total transaction of $965,368.46. Following the transaction, the chief executive officer directly owned 1,340,799 shares in the company, valued at approximately $18,529,842.18. This represents a 4.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sammaad Shams sold 1,576 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $16.24, for a total transaction of $25,594.24. Following the sale, the chief accounting officer directly owned 65,995 shares of the company’s stock, valued at approximately $1,071,758.80. This trade represents a 2.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 671,544 shares of company stock worth $8,402,907 in the last 90 days. Corporate insiders own 7.70% of the company’s stock.

NextNav Stock Up 3.0%

NN stock opened at $17.60 on Tuesday. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -13.54 and a beta of 0.98. NextNav Inc. has a 12-month low of $9.05 and a 12-month high of $18.25. The company’s fifty day simple moving average is $15.43 and its 200 day simple moving average is $15.04.

NextNav (NASDAQ:NN) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. NextNav had a negative return on equity of 556.83% and a negative net margin of 3,109.88%.The firm had revenue of $0.89 million during the quarter, compared to the consensus estimate of $1.13 million. Research analysts expect that NextNav Inc. will post -0.74 earnings per share 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.