NN (NASDAQ:NNBR) Major Shareholder John Frederick Barrett Sells 12,199 Shares

NN, Inc. (NASDAQ:NNBR) major shareholder John Frederick Barrett sold 12,199 shares of the firm’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $2.51, for a total value of $30,619.49. Following the completion of the transaction, the insider owned 4,704,880 shares in the company, valued at approximately $11,809,248.80. This trade represents a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large 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 value of $358,113.95.
• 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 value of $1,493,770.45.
• On Wednesday, April 22nd, John Frederick Barrett sold 94,380 shares of NN stock. The shares were sold at an average price of $2.30, for a total value of $217,074.00.
• 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 NASDAQ:NNBR traded down $0.24 during mid-day trading on Wednesday, hitting $2.30. 984,519 shares of the company traded hands, compared to its average volume of 668,485. The firm has a market cap of $115.44 million, a P/E ratio of -2.15, a PEG ratio of 0.51 and a beta of 2.21. The company has a debt-to-equity ratio of 4.52, a quick ratio of 1.09 and a current ratio of 1.83. NN, Inc. has a 52-week low of $1.10 and a 52-week high of $2.88. The firm’s 50 day simple moving average is $1.67 and its 200 day simple moving average is $1.55.

Institutional Investors Weigh In On NN

A number of hedge funds have recently bought and sold shares of the business. First Manhattan CO. LLC. grew its stake in NN by 8.2% during 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. grew its stake in NN by 0.6% during 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 grew its stake in NN by 21.3% during 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 grew its stake in NN by 69.4% during 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 grew its stake in NN by 2.4% during 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. Institutional investors and hedge funds own 53.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of NN in a report on Tuesday, April 21st. B. Riley Financial dropped their target price on NN from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, March 6th. Finally, Zacks Research downgraded NN from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 11th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price 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.