NN (NASDAQ:NNBR) Major Shareholder Sells $178,655.68 in Stock

NN, Inc. (NASDAQ:NNBR) major shareholder John Frederick Barrett sold 79,757 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $2.24, for a total value of $178,655.68. Following the sale, the insider directly owned 5,422,247 shares in the company, valued at approximately $12,145,833.28. The trade was a 1.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, April 27th, John Frederick Barrett sold 136,165 shares of NN stock. The stock was sold at an average price of $2.63, for a total value of $358,113.95.
• On Friday, April 24th, John Frederick Barrett sold 12,199 shares of NN stock. The stock was 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 stock was sold at an average price of $2.69, for a total value 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 value 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 value of $122,617.43.
• On Friday, April 17th, John Frederick Barrett sold 348,161 shares of NN stock. The stock was sold at an average price of $2.29, for a total value of $797,288.69.
• On Thursday, April 16th, John Frederick Barrett sold 40,030 shares of NN stock. The stock was sold at an average price of $2.04, for a total value 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 value of $649,798.16.

NN Price Performance

NASDAQ NNBR opened at $2.46 on Friday. The stock has a market capitalization of $123.47 million, a P/E ratio of -2.30, a P/E/G ratio of 0.45 and a beta of 2.54. NN, Inc. has a 1 year low of $1.10 and a 1 year high of $2.88. The business’s fifty day moving average is $1.68 and its two-hundred day moving average is $1.55. The company has a debt-to-equity ratio of 4.52, a quick ratio of 1.09 and a current ratio of 1.83.

Hedge Funds Weigh In On NN

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Zacks Research cut NN from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 11th. B. Riley Financial dropped their price target on NN from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, March 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NN in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, NN presently has a consensus rating of “Reduce” and a consensus price target of $3.00.

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.