Paradigm Capital Management Inc. NY Buys 1,080,755 Shares of NN, Inc. (NASDAQ:NNBR)

Paradigm Capital Management Inc. NY raised its position in NN, Inc. (NASDAQ:NNBR - Free Report) by 139.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,856,200 shares of the industrial products company's stock after buying an additional 1,080,755 shares during the period. Paradigm Capital Management Inc. NY owned 3.72% of NN worth $6,070,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NNBR. ProShare Advisors LLC bought a new position in shares of NN in the fourth quarter valued at approximately $43,000. Voya Investment Management LLC acquired a new stake in NN during the 4th quarter valued at $47,000. SG Americas Securities LLC raised its position in NN by 37.7% in the 4th quarter. SG Americas Securities LLC now owns 21,023 shares of the industrial products company's stock valued at $69,000 after purchasing an additional 5,752 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of NN by 209.9% in the fourth quarter. MetLife Investment Management LLC now owns 27,181 shares of the industrial products company's stock valued at $89,000 after buying an additional 18,410 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of NN by 29.2% in the fourth quarter. Wells Fargo & Company MN now owns 27,306 shares of the industrial products company's stock valued at $89,000 after buying an additional 6,165 shares in the last quarter. 53.92% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Harold C. Bevis acquired 45,316 shares of NN stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average price of $2.20 per share, with a total value of $99,695.20. Following the purchase, the chief executive officer now directly owns 1,463,150 shares of the company's stock, valued at $3,218,930. The trade was a 3.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Timothy M. French bought 44,784 shares of the stock in a transaction on Tuesday, May 13th. The stock was purchased at an average cost of $2.08 per share, with a total value of $93,150.72. Following the purchase, the chief operating officer now directly owns 374,784 shares of the company's stock, valued at approximately $779,550.72. This represents a 13.57% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 110,288 shares of company stock valued at $233,662. Company insiders own 7.94% of the company's stock.

NN Trading Up 1.6%

NNBR traded up $0.03 during mid-day trading on Friday, reaching $1.93. The stock had a trading volume of 208,598 shares, compared to its average volume of 294,373. The firm's fifty day simple moving average is $2.05 and its two-hundred day simple moving average is $2.86. The stock has a market capitalization of $97.36 million, a P/E ratio of -1.77, a P/E/G ratio of 2.01 and a beta of 2.15. NN, Inc. has a 52 week low of $1.58 and a 52 week high of $4.67. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.18 and a current ratio of 1.96.

NN (NASDAQ:NNBR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The industrial products company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. The business had revenue of $105.69 million for the quarter, compared to analysts' expectations of $111.96 million. NN had a negative return on equity of 10.61% and a negative net margin of 8.05%. On average, equities analysts predict that NN, Inc. will post -0.2 EPS for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of NN from a "sell" rating to a "hold" rating in a research report on Thursday.

About NN

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.