Main Street Financial Solutions LLC Has $489,000 Stock Holdings in NextNav Inc. (NASDAQ:NN)

Main Street Financial Solutions LLC raised its stake in shares of NextNav Inc. (NASDAQ:NN) by 102.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,250 shares of the company’s stock after purchasing an additional 30,500 shares during the period. Main Street Financial Solutions LLC’s holdings in NextNav were worth $489,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wolf Hill Capital Management LP acquired a new stake in shares of NextNav in the first quarter worth $12,195,000. Vanguard Group Inc. grew its stake in shares of NextNav by 37.7% in the first quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock worth $21,307,000 after acquiring an additional 887,075 shares during the last quarter. General American Investors Co. Inc. grew its stake in shares of NextNav by 33.2% in the fourth quarter. General American Investors Co. Inc. now owns 1,666,915 shares of the company’s stock worth $7,418,000 after acquiring an additional 415,554 shares during the last quarter. Swiss National Bank acquired a new stake in shares of NextNav in the fourth quarter worth $335,000. Finally, Bank of New York Mellon Corp grew its stake in shares of NextNav by 47.9% in the second quarter. Bank of New York Mellon Corp now owns 217,143 shares of the company’s stock worth $1,761,000 after acquiring an additional 70,343 shares during the last quarter. Institutional investors and hedge funds own 79.16% of the company’s stock.

NextNav Trading Up 5.4 %

Shares of NextNav stock opened at $7.86 on Friday. The company’s fifty day simple moving average is $7.75 and its 200-day simple moving average is $7.33. The company has a market cap of $992.88 million, a price-to-earnings ratio of -9.92 and a beta of 1.06. The company has a current ratio of 5.93, a quick ratio of 5.93 and a debt-to-equity ratio of 0.80. NextNav Inc. has a 1 year low of $3.55 and a 1 year high of $9.50.

NextNav (NASDAQ:NN) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.07). The company had revenue of $1.11 million during the quarter, compared to analyst estimates of $1.63 million. NextNav had a negative return on equity of 134.05% and a negative net margin of 2,181.52%. During the same quarter in the previous year, the business posted ($0.15) EPS. As a group, sell-side analysts expect that NextNav Inc. will post -0.81 EPS for the current year.

Insider Buying and Selling at NextNav

In other NextNav news, SVP Arun Raghupathy sold 3,490 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $7.27, for a total value of $25,372.30. Following the sale, the senior vice president now owns 1,092,595 shares of the company’s stock, valued at approximately $7,943,165.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other NextNav news, SVP Arun Raghupathy sold 3,490 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $7.27, for a total value of $25,372.30. Following the sale, the senior vice president now owns 1,092,595 shares of the company’s stock, valued at approximately $7,943,165.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Christian D. Gates sold 4,049 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $7.27, for a total transaction of $29,436.23. Following the completion of the sale, the chief financial officer now directly owns 820,936 shares in the company, valued at approximately $5,968,204.72. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 487,200 shares of company stock valued at $3,515,346 and have sold 8,158 shares valued at $59,309. Insiders own 15.70% of the company’s stock.

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.