Insider Selling: NN (NASDAQ:NNBR) Major Shareholder Sells $122,617.43 in Stock

NN, Inc. (NASDAQ:NNBR) major shareholder John Frederick Barrett sold 55,483 shares of the business’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $2.21, for a total transaction of $122,617.43. Following the completion of the sale, the insider owned 5,366,764 shares in the company, valued at approximately $11,860,548.44. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases 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 transaction 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 transaction 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 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 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 stock was 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 stock was 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 Trading Down 9.4%

Shares of NNBR stock traded down $0.24 during trading hours on Wednesday, hitting $2.30. The company had a trading volume of 984,519 shares, compared to its average volume of 668,485. The company’s fifty day moving average is $1.67 and its 200 day moving average is $1.55. 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 fifty-two week low of $1.10 and a fifty-two week high of $2.88. The stock has a market capitalization of $115.44 million, a PE ratio of -2.15, a price-to-earnings-growth ratio of 0.51 and a beta of 2.21.

Institutional Investors Weigh In On NN

A number of hedge funds and other institutional investors have recently modified their holdings of the company. First Manhattan CO. LLC. raised its holdings in shares of NN by 8.2% in the 4th quarter. First Manhattan CO. LLC. now owns 3,003,800 shares of the industrial products company’s stock valued at $3,845,000 after purchasing an additional 228,800 shares in the last quarter. Nomura Holdings Inc. raised its holdings in shares of NN by 0.6% in the 3rd quarter. Nomura Holdings Inc. now owns 2,969,632 shares of the industrial products company’s stock valued at $6,117,000 after purchasing an additional 18,615 shares in the last quarter. Paradigm Capital Management Inc. NY raised its holdings in shares of NN by 21.3% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,758,252 shares of the industrial products company’s stock valued at $5,792,000 after purchasing an additional 483,952 shares in the last quarter. Nantahala Capital Management LLC raised its holdings in shares of NN by 69.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company’s stock valued at $5,127,000 after purchasing an additional 1,000,000 shares in the last quarter. Finally, Register Financial Advisors LLC raised its holdings in shares of NN by 2.4% in the 3rd quarter. Register Financial Advisors LLC now owns 1,276,878 shares of the industrial products company’s stock valued at $2,630,000 after purchasing an additional 29,498 shares in the last quarter. 53.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NNBR has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of NN in a report on Tuesday, April 21st. Zacks Research lowered shares of NN from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 11th. Finally, B. Riley Financial decreased 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 research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock 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.