NN, Inc. (NASDAQ:NNBR) Holdings Trimmed by Corre Partners Management LLC

Key Points

• Corre Partners Management LLC reduced its stake in NN, Inc. (NASDAQ:NNBR) by 6.4%, now holding approximately 12.44% of the company worth $14 million.
• CEO Harold C. Bevis and COO Timothy M. French both made recent stock purchases, increasing their respective ownership stakes in the company.
• NN, Inc. reported a quarterly earnings per share (EPS) of $0.02, surpassing analysts' estimates, although it has a negative net margin of 8.84% and negative return on equity.

Corre Partners Management LLC lowered its stake in NN, Inc. (NASDAQ:NNBR - Free Report) by 6.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 6,205,631 shares of the industrial products company's stock after selling 427,630 shares during the period. NN accounts for approximately 15.9% of Corre Partners Management LLC's holdings, making the stock its 2nd biggest holding. Corre Partners Management LLC owned 12.44% of NN worth $14,025,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bailard Inc. acquired a new position in NN in the first quarter valued at approximately $39,000. ProShare Advisors LLC acquired a new position in NN during the 4th quarter valued at approximately $43,000. Voya Investment Management LLC bought a new position in NN during the 4th quarter worth $47,000. MetLife Investment Management LLC grew its stake in NN by 209.9% during the 4th quarter. MetLife Investment Management LLC now owns 27,181 shares of the industrial products company's stock worth $89,000 after buying an additional 18,410 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in NN by 29.2% in the fourth quarter. Wells Fargo & Company MN now owns 27,306 shares of the industrial products company's stock worth $89,000 after buying an additional 6,165 shares during the period. Institutional investors and hedge funds own 53.92% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. B. Riley began coverage on shares of NN in a report on Thursday, July 31st. They set a "buy" rating and a $4.00 price target for the company. Wall Street Zen upgraded shares of NN from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

NN Stock Performance

NN stock traded up $0.04 during mid-day trading on Wednesday, hitting $2.44. 72,849 shares of the company's stock traded hands, compared to its average volume of 405,737. The company has a quick ratio of 1.22, a current ratio of 1.93 and a debt-to-equity ratio of 2.59. NN, Inc. has a one year low of $1.58 and a one year high of $4.67. The firm has a 50 day moving average price of $2.10 and a 200 day moving average price of $2.31. The company has a market cap of $123.10 million, a PE ratio of -2.16 and a beta of 2.03.

NN (NASDAQ:NNBR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. The business had revenue of $107.92 million during the quarter, compared to the consensus estimate of $110.45 million. NN had a negative net margin of 8.84% and a negative return on equity of 5.29%. On average, equities analysts forecast that NN, Inc. will post -0.2 EPS for the current year.

NN Profile

NN, Inc, together with its subsidiaries, designs, manufactures, and sells high-precision components and assemblies for various end markets in the United States and internationally. It operates through two segments, Mobile Solutions and Power Solutions. The Mobile Solutions segment manufactures and sells system critical components for automotive, general industrial, and medical end markets for use in power steering, braking, transmissions, gasoline fuel system, diesel injection, and diesel emissions treatment applications, as well as in heating, ventilation, and air conditioning.