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

Ingalls & Snyder LLC boosted its position in NextNav Inc. (NASDAQ:NN) by 1.5% in the fourth quarter, HoldingsChannel reports. The firm owned 301,400 shares of the company’s stock after buying an additional 4,500 shares during the quarter. Ingalls & Snyder LLC’s holdings in NextNav were worth $4,690,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its stake in shares of NextNav by 39.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,857 shares of the company’s stock valued at $242,000 after buying an additional 8,466 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of NextNav during the 3rd quarter valued at approximately $205,000. Van ECK Associates Corp lifted its stake in shares of NextNav by 10.0% during the 3rd quarter. Van ECK Associates Corp now owns 21,412 shares of the company’s stock valued at $160,000 after buying an additional 1,948 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of NextNav during the 3rd quarter valued at approximately $125,000. Finally, King Luther Capital Management Corp purchased a new stake in shares of NextNav during the 3rd quarter valued at approximately $90,000. 79.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, SVP Arun Raghupathy sold 3,332 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $19,914,188.08. This trade represents a 0.31 % decrease in their position. The transaction 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 stock in a transaction on 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 directly owns 1,574,117 shares in the company, valued at approximately $25,815,518.80. This represents a 11.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 209,367 shares of company stock worth $3,442,705. 15.70% of the stock is currently owned by corporate insiders.

NextNav Price Performance

NASDAQ NN opened at $11.56 on Thursday. NextNav Inc. has a 1 year low of $3.55 and a 1 year high of $18.54. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. The company’s 50 day simple moving average is $14.24 and its two-hundred day simple moving average is $11.35.

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.