NN (NASDAQ:NNBR) Major Shareholder Sells $217,074.00 in Stock

NN, Inc. (NASDAQ:NNBR) major shareholder Corre Partners Management, Llc sold 94,380 shares of the stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $2.30, for a total transaction of $217,074.00. Following the completion of the transaction, the insider directly owned 560,953 shares in the company, valued at $1,290,191.90. The trade was a 14.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% 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 Tuesday, April 21st, Corre Partners Management, Llc 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, Corre Partners Management, Llc 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, Corre Partners Management, Llc sold 348,161 shares of NN stock. The stock was sold at an average price of $2.29, for a total transaction of $797,288.69.
• On Thursday, April 16th, Corre Partners Management, Llc sold 40,030 shares of NN stock. The stock was sold at an average price of $2.04, for a total transaction 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 transaction of $649,798.16.

NN Stock Performance

Shares of NASDAQ NNBR traded up $0.17 during mid-day trading on Wednesday, reaching $2.36. 1,110,874 shares of the company were exchanged, compared to its average volume of 1,102,762. The company’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. The stock has a market capitalization of $118.45 million, a P/E ratio of -2.21, a P/E/G ratio of 0.42 and a beta of 2.21. NN, Inc. has a twelve month low of $1.10 and a twelve month high of $2.63.

Institutional Investors Weigh In On NN

Several institutional investors have recently bought and sold shares of NNBR. Two Sigma Investments LP bought a new position in shares of NN during the 3rd quarter worth $27,000. Hudson Bay Capital Management LP bought a new stake in shares of NN in the 2nd quarter worth approximately $29,000. Virtu Financial LLC bought a new stake in shares of NN during the fourth quarter valued at approximately $30,000. Quinn Opportunity Partners LLC bought a new stake in shares of NN during the fourth quarter valued at approximately $32,000. Finally, Squarepoint Ops LLC bought a new stake in NN in the third quarter worth $88,000. Institutional investors own 53.92% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on NNBR. B. Riley Financial dropped 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 restated a “sell (d-)” rating on shares of NN in a report on Thursday, January 22nd. Finally, Zacks Research cut NN from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 11th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, NN presently has a consensus rating of “Reduce” and an average target price 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.