Ingalls & Snyder LLC Buys 4,500 Shares of NextNav Inc. (NASDAQ:NN)

Ingalls & Snyder LLC lifted its holdings in shares of NextNav Inc. (NASDAQ:NN) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 301,400 shares of the company’s stock after purchasing an additional 4,500 shares during the quarter. Ingalls & Snyder LLC owned 0.23% of NextNav worth $4,690,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in NextNav by 11.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 546,806 shares of the company’s stock valued at $4,096,000 after acquiring an additional 57,780 shares during the last quarter. 272 Capital LP bought a new position in NextNav in the third quarter valued at approximately $756,000. Geode Capital Management LLC increased its stake in NextNav by 10.3% in the third quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company’s stock valued at $12,672,000 after acquiring an additional 158,455 shares during the last quarter. Wittenberg Investment Management Inc. bought a new stake in shares of NextNav during the third quarter worth $366,000. Finally, Paloma Partners Management Co bought a new stake in shares of NextNav during the third quarter worth $1,060,000. 79.16% of the stock is currently owned by institutional investors and hedge funds.

NextNav Stock Performance

Shares of NextNav stock opened at $11.56 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01. NextNav Inc. has a twelve month low of $3.55 and a twelve month high of $18.54. The company’s fifty day moving average is $14.24 and its 200 day moving average is $11.35.

Insider Activity at NextNav

In other news, SVP Arun Raghupathy sold 3,332 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $18.32, for a total transaction of $61,042.24. Following the transaction, the senior vice president now owns 1,087,019 shares in the company, valued at approximately $19,914,188.08. This represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mariam Sorond sold 200,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $16.40, for a total transaction of $3,280,000.00. Following the transaction, the chief executive officer now owns 1,574,117 shares in the company, valued at $25,815,518.80. This represents a 11.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 209,367 shares of company stock worth $3,442,705 over the last quarter. Company insiders own 15.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, B. Riley boosted their target price on shares of NextNav from $12.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th.

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.