Insider Selling: NN (NASDAQ:NNBR) Major Shareholder Sells $358,113.95 in Stock

NN, Inc. (NASDAQ:NNBR) major shareholder John Frederick Barrett sold 136,165 shares of NN stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $2.63, for a total value of $358,113.95. Following the sale, the insider directly owned 4,568,715 shares in the company, valued at $12,015,720.45. The trade was a 2.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

John Frederick Barrett also recently made the following trade(s):

• On Friday, April 24th, John Frederick Barrett sold 12,199 shares of NN stock. The shares were sold at an average price of $2.51, for a total value of $30,619.49.
• On Thursday, April 23rd, John Frederick Barrett sold 555,305 shares of NN stock. The shares were sold at an average price of $2.69, for a total transaction of $1,493,770.45.
• On Wednesday, April 22nd, John Frederick Barrett sold 94,380 shares of NN stock. The stock was sold at an average price of $2.30, for a total transaction of $217,074.00.
• On Tuesday, April 21st, John Frederick Barrett sold 55,483 shares of NN stock. The stock was sold at an average price of $2.21, for a total transaction of $122,617.43.
• On Monday, April 20th, John Frederick Barrett sold 79,757 shares of NN stock. The stock was sold at an average price of $2.24, for a total transaction of $178,655.68.
• On Friday, April 17th, John Frederick Barrett sold 348,161 shares of NN stock. The shares were sold at an average price of $2.29, for a total transaction of $797,288.69.
• On Thursday, April 16th, John Frederick Barrett sold 40,030 shares of NN stock. The shares were sold at an average price of $2.04, for a total transaction of $81,661.20.
• On Wednesday, April 15th, John Frederick Barrett sold 315,436 shares of NN stock. The stock was sold at an average price of $2.06, for a total transaction of $649,798.16.

NN Stock Performance

Shares of NN stock opened at $2.46 on Friday. The stock has a market cap of $123.47 million, a price-to-earnings ratio of -2.30, a P/E/G ratio of 0.45 and a beta of 2.54. NN, Inc. has a twelve month low of $1.10 and a twelve month high of $2.88. The company’s fifty day moving average is $1.68 and its 200 day moving average is $1.55. The company has a quick ratio of 1.09, a current ratio of 1.83 and a debt-to-equity ratio of 4.52.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. B. Riley Financial decreased their price target on NN from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NN in a research note on Tuesday, April 21st. Finally, Zacks Research cut NN from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 11th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $3.00.

Institutional Trading of NN

Large investors have recently bought and sold shares of the business. Two Sigma Investments LP bought a new position in shares of NN in the 3rd quarter worth about $27,000. Hudson Bay Capital Management LP bought a new stake in shares of NN during the 2nd quarter valued at about $29,000. Virtu Financial LLC bought a new stake in shares of NN during the 4th quarter valued at about $30,000. Quinn Opportunity Partners LLC acquired a new stake in NN during the fourth quarter worth approximately $32,000. Finally, Squarepoint Ops LLC acquired a new stake in NN during the third quarter worth approximately $88,000. 53.92% of the stock is currently owned by institutional investors and hedge funds.

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.