NN (NASDAQ:NNBR) Major Shareholder Corre Partners Management, Llc Sells 55,483 Shares

NN, Inc. (NASDAQ:NNBR) major shareholder Corre Partners Management, Llc sold 55,483 shares of the business’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $2.21, for a total value of $122,617.43. Following the completion of the sale, the insider owned 586,197 shares of the company’s stock, valued at $1,295,495.37. This trade represents a 8.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Wednesday, April 22nd, Corre Partners Management, Llc 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, Corre Partners Management, Llc 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, Corre Partners Management, Llc 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, Corre Partners Management, Llc 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, Corre Partners Management, Llc 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 Stock Performance

Shares of NASDAQ:NNBR opened at $2.36 on Thursday. The company’s 50 day moving average price is $1.59 and its two-hundred day moving average price is $1.53. NN, Inc. has a 12-month low of $1.10 and a 12-month high of $2.63. The firm has a market cap of $118.45 million, a PE ratio of -2.21, a PEG ratio of 0.42 and a beta of 2.21. The company has a quick ratio of 1.09, a current ratio of 1.83 and a debt-to-equity ratio of 4.52.

Analyst Ratings Changes

NNBR has been the topic of a number of recent analyst reports. Zacks Research cut NN from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 11th. B. Riley Financial decreased their price target on NN from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NN in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $3.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. First Manhattan CO. LLC. raised its position 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 valued at $3,845,000 after purchasing an additional 228,800 shares in the last quarter. Nomura Holdings Inc. raised its position 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 valued at $6,117,000 after purchasing an additional 18,615 shares in the last quarter. Paradigm Capital Management Inc. NY lifted its holdings in shares of NN by 21.3% in 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 acquiring an additional 483,952 shares during the last quarter. Nantahala Capital Management LLC lifted its holdings in shares of NN by 69.4% in 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 acquiring an additional 1,000,000 shares during the last quarter. Finally, Register Financial Advisors LLC lifted its holdings in shares of NN by 2.4% in 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 acquiring an additional 29,498 shares during the last quarter. 53.92% of the stock is currently owned by institutional investors and hedge funds.

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.