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

NN, Inc. (NASDAQ:NNBR) major shareholder Corre Partners Management, Llc sold 136,165 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $2.63, for a total value of $358,113.95. Following the completion of the sale, the insider owned 372,744 shares of the company’s stock, valued at $980,316.72. This trade represents a 26.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 Friday, April 24th, Corre Partners Management, Llc 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, Corre Partners Management, Llc sold 555,305 shares of NN stock. The stock was sold at an average price of $2.69, for a total transaction of $1,493,770.45.
• On Wednesday, April 22nd, Corre Partners Management, Llc 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, 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 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 shares were 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 shares were sold at an average price of $2.06, for a total transaction of $649,798.16.

NN Stock Performance

NNBR traded up $0.16 on Monday, hitting $2.65. 1,376,934 shares of the company’s stock were exchanged, compared to its average volume of 1,361,684. The company has a current ratio of 1.83, a quick ratio of 1.09 and a debt-to-equity ratio of 4.52. The stock has a fifty day moving average of $1.64 and a two-hundred day moving average of $1.54. NN, Inc. has a twelve month low of $1.10 and a twelve month high of $2.88. The firm has a market cap of $133.00 million, a PE ratio of -2.48, a P/E/G ratio of 0.48 and a beta of 2.21.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. J.W. Cole Advisors Inc. grew its position in NN by 11.9% in the 4th quarter. J.W. Cole Advisors Inc. now owns 90,600 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 9,600 shares during the last quarter. Corient Private Wealth LLC grew its position in NN by 16.1% in the 2nd quarter. Corient Private Wealth LLC now owns 72,000 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 10,000 shares during the last quarter. Two Sigma Investments LP bought a new position in NN in the 3rd quarter worth about $27,000. Hudson Bay Capital Management LP bought a new position in NN in the 2nd quarter worth about $29,000. Finally, XTX Topco Ltd grew its position in NN by 29.3% in the 4th quarter. XTX Topco Ltd now owns 73,920 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 16,732 shares during the last quarter. Institutional investors own 53.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Zacks Research downgraded NN from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 11th. Weiss Ratings restated a “sell (d-)” rating on shares of NN in a research note on Tuesday, April 21st. Finally, B. Riley Financial decreased their target price on NN from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, March 6th. 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 MarketBeat, NN currently has an average 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.