Insider Selling: NN (NASDAQ:NNBR) Major Shareholder Sells 136,165 Shares of Stock

NN, Inc. (NASDAQ:NNBR) major shareholder John Frederick Barrett sold 136,165 shares of the stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $2.63, for a total transaction of $358,113.95. Following the sale, the insider owned 4,568,715 shares of the company’s stock, valued at $12,015,720.45. This trade represents a 2.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

John Frederick Barrett also recently made the following trade(s):

• 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 Tuesday, April 21st, John Frederick Barrett 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, 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 Price Performance

Shares of NN stock traded down $0.24 during mid-day trading on Wednesday, reaching $2.30. 984,519 shares of the stock were exchanged, compared to its average volume of 668,485. The company has a market cap of $115.44 million, a price-to-earnings ratio of -2.15, a price-to-earnings-growth ratio of 0.51 and a beta of 2.21. 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 firm has a 50-day simple moving average of $1.67 and a 200 day simple moving average of $1.55. NN, Inc. has a fifty-two week low of $1.10 and a fifty-two week high of $2.88.

Institutional Investors Weigh In On NN

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd increased 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 valued at $95,000 after acquiring an additional 16,732 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of NN during the 4th quarter worth approximately $90,000. Squarepoint Ops LLC acquired a new stake in shares of NN during the 3rd quarter worth approximately $88,000. Quadrature Capital Ltd acquired a new stake in shares of NN during the 4th quarter worth approximately $77,000. Finally, Quinn Opportunity Partners LLC acquired a new stake in shares of NN during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 53.92% of the company’s stock.

Analysts Set New Price Targets

NNBR has been the subject of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of NN in a research report on Tuesday, April 21st. Zacks Research cut shares of NN from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 11th. Finally, B. Riley Financial lowered their price objective on shares of NN from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Friday, March 6th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, NN has an average rating of “Reduce” and an average price target of $3.00.

About NN

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.