Deltec Asset Management LLC Reduces Stock Position in NextNav Inc. (NASDAQ:NN)

Deltec Asset Management LLC trimmed its stake in shares of NextNav Inc. (NASDAQ:NN) by 30.0% in the 4th quarter, Holdings Channel reports. The firm owned 35,000 shares of the company’s stock after selling 15,000 shares during the period. Deltec Asset Management LLC’s holdings in NextNav were worth $545,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in NextNav in the 2nd quarter worth approximately $404,000. The Manufacturers Life Insurance Company boosted its stake in shares of NextNav by 39.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,857 shares of the company’s stock worth $242,000 after buying an additional 8,466 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of NextNav in the third quarter worth $205,000. Van ECK Associates Corp increased its position in NextNav by 10.0% during the third quarter. Van ECK Associates Corp now owns 21,412 shares of the company’s stock valued at $160,000 after acquiring an additional 1,948 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in NextNav in the third quarter valued at about $125,000. Institutional investors own 79.16% of the company’s stock.

Analysts Set New Price Targets

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 report on Thursday, November 14th.

NextNav Stock Down 2.2 %

NN opened at $11.69 on Wednesday. The firm’s 50 day simple moving average is $14.82 and its two-hundred day simple moving average is $11.21. The company has a market capitalization of $1.53 billion, a PE ratio of -15.59 and a beta of 1.13. 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.

Insider Buying and Selling

In related news, SVP Arun Raghupathy sold 3,332 shares of NextNav 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 in the company, valued at approximately $19,914,188.08. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mariam Sorond sold 200,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $16.40, for a total transaction of $3,280,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,574,117 shares of the company’s stock, valued at $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 three months, insiders have sold 209,367 shares of company stock valued at $3,442,705. 11.30% of the stock is owned by company insiders.

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.