NN (NASDAQ:NNBR) Major Shareholder Corre Partners Management, Llc Sells 12,199 Shares

NN, Inc. (NASDAQ:NNBR) major shareholder Corre Partners Management, Llc sold 12,199 shares of the business’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $2.51, for a total transaction of $30,619.49. Following the transaction, the insider owned 409,164 shares in the company, valued at $1,027,001.64. The trade was a 2.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, April 27th, Corre Partners Management, Llc sold 136,165 shares of NN stock. The shares were sold at an average price of $2.63, for a total transaction of $358,113.95.
• On Thursday, April 23rd, Corre Partners Management, Llc 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, 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 Monday, April 20th, Corre Partners Management, Llc sold 79,757 shares of NN stock. The shares were 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 shares were 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 Up 6.4%

Shares of NN stock traded up $0.16 during trading on Monday, reaching $2.65. 1,376,934 shares of the company traded hands, compared to its average volume of 1,361,684. The company has a debt-to-equity ratio of 4.52, a current ratio of 1.83 and a quick ratio of 1.09. NN, Inc. has a 1-year low of $1.10 and a 1-year high of $2.88. The company has a 50 day moving average price of $1.64 and a 200-day moving average price of $1.54. The firm has a market capitalization 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 have recently bought and sold shares of the business. First Manhattan CO. LLC. raised its holdings in NN by 8.2% during the fourth quarter. First Manhattan CO. LLC. now owns 3,003,800 shares of the industrial products company’s stock worth $3,845,000 after buying an additional 228,800 shares during the last quarter. Nomura Holdings Inc. raised its holdings in NN by 0.6% during the third quarter. Nomura Holdings Inc. now owns 2,969,632 shares of the industrial products company’s stock worth $6,117,000 after buying an additional 18,615 shares during the last quarter. Paradigm Capital Management Inc. NY raised its holdings in NN by 21.3% during the second quarter. Paradigm Capital Management Inc. NY now owns 2,758,252 shares of the industrial products company’s stock worth $5,792,000 after buying an additional 483,952 shares during the last quarter. Nantahala Capital Management LLC raised its holdings in NN by 69.4% during the second quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company’s stock worth $5,127,000 after buying an additional 1,000,000 shares during the last quarter. Finally, Register Financial Advisors LLC raised its holdings in NN by 2.4% during the third quarter. Register Financial Advisors LLC now owns 1,276,878 shares of the industrial products company’s stock worth $2,630,000 after buying an additional 29,498 shares during the last quarter. Institutional investors and hedge funds own 53.92% of the company’s stock.

Wall Street Analysts Forecast Growth

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