NN (NASDAQ:NNBR) Major Shareholder Sells 79,757 Shares

NN, Inc. (NASDAQ:NNBR) major shareholder Corre Partners Management, Llc sold 79,757 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $2.24, for a total transaction of $178,655.68. Following the transaction, the insider owned 601,037 shares in the company, valued at approximately $1,346,322.88. The trade was a 11.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Corre Partners Management, Llc also recently made the following trade(s):

• On Wednesday, April 22nd, Corre Partners Management, Llc sold 94,380 shares of NN stock. The shares were sold at an average price of $2.30, for a total transaction of $217,074.00.
• On Tuesday, April 21st, Corre Partners Management, Llc sold 55,483 shares of NN stock. The shares were sold at an average price of $2.21, for a total transaction of $122,617.43.
• On Friday, April 17th, Corre Partners Management, Llc sold 348,161 shares of NN stock. The shares were sold at an average price of $2.29, for a total value of $797,288.69.
• On Thursday, April 16th, Corre Partners Management, Llc sold 40,030 shares of NN stock. The shares were sold at an average price of $2.04, for a total value of $81,661.20.
• On Wednesday, April 15th, Corre Partners Management, Llc sold 315,436 shares of NN stock. The stock was sold at an average price of $2.06, for a total value of $649,798.16.

NN Stock Performance

Shares of NNBR stock traded up $0.17 during mid-day trading on Wednesday, reaching $2.36. The stock had a trading volume of 1,110,874 shares, compared to its average volume of 1,102,762. The firm’s 50 day simple moving average is $1.59 and its 200 day simple moving average is $1.53. The company has a quick ratio of 1.09, a current ratio of 1.83 and a debt-to-equity ratio of 4.52. NN, Inc. has a one year low of $1.10 and a one year high of $2.63. The firm has a market cap of $118.45 million, a PE ratio of -2.21, a P/E/G ratio of 0.42 and a beta of 2.21.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Zacks Research downgraded NN from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NN in a research report on Thursday, January 22nd. Finally, B. Riley Financial reduced their price objective on NN from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, NN has an average rating of “Reduce” and a consensus target price of $3.00.

Institutional Investors Weigh In On NN

Several large investors have recently modified their holdings of NNBR. Nantahala Capital Management LLC grew its stake in shares of NN by 69.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company’s stock valued at $5,127,000 after purchasing an additional 1,000,000 shares during the period. Paradigm Capital Management Inc. NY grew its stake in shares of NN by 21.3% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,758,252 shares of the industrial products company’s stock valued at $5,792,000 after purchasing an additional 483,952 shares during the period. UBS Group AG grew its stake in shares of NN by 15,147.1% in the 3rd quarter. UBS Group AG now owns 279,632 shares of the industrial products company’s stock valued at $576,000 after purchasing an additional 277,798 shares during the period. Renaissance Technologies LLC grew its stake in shares of NN by 291.0% in the 4th quarter. Renaissance Technologies LLC now owns 367,500 shares of the industrial products company’s stock valued at $470,000 after purchasing an additional 273,500 shares during the period. Finally, First Manhattan CO. LLC. boosted its holdings in shares of NN by 8.2% in the 4th quarter. First Manhattan CO. LLC. now owns 3,003,800 shares of the industrial products company’s stock worth $3,845,000 after acquiring an additional 228,800 shares in the last quarter. 53.92% of the stock is currently owned by institutional investors.

NN Company Profile

NN, Inc (NASDAQ: NNBR) is a diversified industrial manufacturing company specializing in engineered metal components, powder metal parts and friction materials. Through its subsidiaries, the company develops and produces precision-rolled products for powertrain and chassis applications, engineered friction products for brake and transmission systems, and various metal powders used in automotive, industrial and energy markets. Its offerings span a wide range of component sizes and complexity, from thin‐gauge strips for hybrid and electric vehicle applications to high‐volume sintered parts for commercial and consumer products.

The company’s operations are organized into three business segments.