NextNav Inc. (NASDAQ:NN) Stock Position Lessened by Corsair Capital Management L.P.

Corsair Capital Management L.P. reduced its stake in shares of NextNav Inc. (NASDAQ:NN) by 40.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,344 shares of the company’s stock after selling 52,000 shares during the quarter. Corsair Capital Management L.P. owned about 0.06% of NextNav worth $564,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings 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 valued at $21,307,000 after purchasing an additional 887,075 shares in the last quarter. Wolf Hill Capital Management LP lifted its stake in NextNav by 14.6% in the 2nd quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company’s stock worth $17,218,000 after acquiring an additional 269,754 shares in the last quarter. Empyrean Capital Partners LP lifted its stake in NextNav by 56.6% in the 2nd quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company’s stock worth $5,359,000 after acquiring an additional 238,845 shares in the last quarter. DigitalBridge Group Inc. purchased a new position in NextNav during the 2nd quarter valued at about $1,741,000. Finally, Marshall Wace LLP acquired a new position in shares of NextNav in the 2nd quarter valued at about $1,571,000. 79.16% of the stock is owned by institutional investors.

NextNav Stock Up 1.7 %

NASDAQ NN opened at $16.33 on Wednesday. NextNav Inc. has a twelve month low of $3.55 and a twelve month high of $17.10. The stock has a market cap of $2.10 billion, a PE ratio of -21.41 and a beta of 0.94. The firm has a 50-day simple moving average of $10.71 and a 200 day simple moving average of $8.79. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.01 and a current ratio of 5.01.

Wall Street Analyst Weigh In

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

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.