Whitefort Capital Management LP Has $9.38 Million Stock Position in NextNav Inc. (NASDAQ:NN)

Whitefort Capital Management LP lessened its stake in shares of NextNav Inc. (NASDAQ:NN) by 16.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,252,831 shares of the company’s stock after selling 247,823 shares during the quarter. NextNav comprises about 4.3% of Whitefort Capital Management LP’s investment portfolio, making the stock its 9th biggest holding. Whitefort Capital Management LP owned 0.99% of NextNav worth $9,384,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. nVerses Capital LLC bought a new stake in NextNav during the second quarter valued at about $50,000. Principal Financial Group Inc. purchased a new stake in NextNav in the 2nd quarter worth approximately $82,000. Quest Partners LLC bought a new stake in NextNav during the 2nd quarter worth approximately $88,000. King Luther Capital Management Corp purchased a new position in NextNav during the third quarter valued at approximately $90,000. Finally, Wolverine Asset Management LLC lifted its holdings in NextNav by 323.6% during the second quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company’s stock valued at $98,000 after purchasing an additional 9,248 shares in the last quarter. 79.16% of the stock is currently owned by institutional investors.

NextNav Price Performance

Shares of NextNav stock opened at $17.04 on Friday. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81. NextNav Inc. has a 52 week low of $3.55 and a 52 week high of $18.10. The stock’s 50-day simple moving average is $12.04 and its 200-day simple moving average is $9.22. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -22.72 and a beta of 1.13.

Analysts Set New Price Targets

Separately, B. Riley increased their price objective 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.

Insider Activity

In related news, CEO Mariam Sorond sold 200,000 shares of the company’s 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 sale, the chief executive officer now owns 1,574,117 shares of the company’s stock, valued at $25,815,518.80. This represents a 11.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 201,459 shares of company stock worth $3,300,854 over the last quarter. Insiders own 15.70% of the company’s stock.

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.