Interval Partners LP Sells 95,852 Shares of NextNav Inc. $NN

Interval Partners LP lowered its stake in shares of NextNav Inc. (NASDAQ:NN) by 8.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,060,237 shares of the company’s stock after selling 95,852 shares during the quarter. Interval Partners LP owned approximately 0.79% of NextNav worth $15,161,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Invesco Ltd. lifted its stake in shares of NextNav by 405.7% during the third quarter. Invesco Ltd. now owns 221,774 shares of the company’s stock valued at $3,171,000 after acquiring an additional 177,921 shares during the period. UBS Group AG raised its holdings in NextNav by 1.0% during the 3rd quarter. UBS Group AG now owns 1,475,780 shares of the company’s stock worth $21,104,000 after purchasing an additional 14,517 shares during the last quarter. Marathon Trading Investment Management LLC bought a new stake in NextNav during the 3rd quarter worth about $381,000. BNP Paribas Financial Markets lifted its position in NextNav by 458.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 49,799 shares of the company’s stock valued at $712,000 after purchasing an additional 40,881 shares during the period. Finally, Van ECK Associates Corp lifted its position in NextNav by 111.7% during the 3rd quarter. Van ECK Associates Corp now owns 768,345 shares of the company’s stock valued at $10,987,000 after purchasing an additional 405,359 shares during the period. 79.16% of the stock is currently owned by institutional investors.

Insider Activity at NextNav

In other NextNav news, CAO Sammaad Shams sold 1,576 shares of NextNav stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $16.24, for a total value of $25,594.24. Following the transaction, the chief accounting officer owned 65,995 shares of the company’s stock, valued at approximately $1,071,758.80. The trade was a 2.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mariam Sorond sold 69,853 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 1,270,946 shares of the company’s stock, valued at $21,491,696.86. This trade represents a 5.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 71,544 shares of company stock worth $1,208,753 over the last 90 days. Corporate insiders own 7.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NN. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of NextNav from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

NextNav Price Performance

NASDAQ NN opened at $17.02 on Friday. NextNav Inc. has a one year low of $10.64 and a one year high of $18.25. The firm has a market cap of $2.29 billion, a P/E ratio of -13.09 and a beta of 0.96. The stock’s 50-day moving average is $15.80 and its 200-day moving average is $15.26.

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.