NN (NASDAQ:NNBR) Major Shareholder John Frederick Barrett Sells 94,380 Shares

NN, Inc. (NASDAQ:NNBR) major shareholder John Frederick Barrett sold 94,380 shares of NN stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $2.30, for a total value of $217,074.00. Following the completion of the transaction, the insider directly owned 5,272,384 shares of the company’s stock, valued at approximately $12,126,483.20. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock 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 shares were 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 shares were 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 shares were sold at an average price of $2.69, for a total value of $1,493,770.45.
• On Tuesday, April 21st, John Frederick Barrett sold 55,483 shares of NN stock. The shares were sold at an average price of $2.21, for a total value of $122,617.43.
• On Monday, April 20th, John Frederick Barrett sold 79,757 shares of NN stock. The shares were sold at an average price of $2.24, for a total value of $178,655.68.
• On Friday, April 17th, John Frederick Barrett sold 348,161 shares of NN stock. The shares were 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 shares were 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 shares were sold at an average price of $2.06, for a total value of $649,798.16.

NN Stock Down 9.4%

Shares of NNBR traded down $0.24 during midday trading 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 50-day simple moving average is $1.67 and its 200-day simple 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. The firm has a market capitalization of $115.44 million, a P/E ratio of -2.15, a P/E/G ratio of 0.51 and a beta of 2.21. NN, Inc. has a 1 year low of $1.10 and a 1 year high of $2.88.

Institutional Investors Weigh In On NN

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP purchased a new stake in NN in the third quarter valued at approximately $27,000. Hudson Bay Capital Management LP purchased a new stake in NN in the second quarter valued at approximately $29,000. Virtu Financial LLC purchased a new stake in NN in the fourth quarter valued at approximately $30,000. Quinn Opportunity Partners LLC purchased a new stake in NN in the fourth quarter valued at approximately $32,000. Finally, Squarepoint Ops LLC purchased a new stake in NN in the third quarter valued at approximately $88,000. Hedge funds and other institutional investors own 53.92% of the company’s stock.

Wall Street Analyst Weigh In

NNBR has been the subject of several recent research reports. B. Riley Financial decreased their price objective 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 reiterated a “sell (d-)” rating on shares of NN in a research note on Tuesday, April 21st. Finally, Zacks Research cut NN from a “hold” rating to a “strong sell” rating in a research note 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. Based on data from MarketBeat.com, 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.