Ranger Investment Management L.P. Invests $2.04 Million in NN, Inc. $NNBR

Key Points

• Ranger Investment Management acquired 568,235 shares of NN, Inc. worth approximately $2.04 million, representing about 1.08% of the company. Institutional investors collectively own 53.92% of NN’s outstanding shares.
• NN reported quarterly EPS of $0.11 and revenue of $128.74 million, exceeding analysts’ revenue estimate of $116.09 million, though the company posted a negative net margin of 6.21%.
• Analyst sentiment is mixed: two analysts rate NN a Buy, two rate it Hold, and one rates it Sell. The stock has an average rating of Hold and an average price target of $5.67, compared with its recent price of $3.78.

Ranger Investment Management L.P. acquired a new stake in shares of NN, Inc. (NASDAQ:NNBR - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 568,235 shares of the industrial products company's stock, valued at approximately $2,040,000. Ranger Investment Management L.P. owned approximately 1.08% of NN as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. XTX Topco Ltd purchased a new stake in NN in the 2nd quarter worth approximately $156,000. Marshall Wace LLP lifted its holdings in NN by 334.0% during the second quarter. Marshall Wace LLP now owns 257,234 shares of the industrial products company's stock valued at $540,000 after purchasing an additional 197,960 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in NN during the second quarter valued at approximately $147,000. Jane Street Group LLC bought a new position in shares of NN in the second quarter worth approximately $233,000. Finally, Nantahala Capital Management LLC boosted its position 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 purchasing an additional 1,000,000 shares during the period. 53.92% of the stock is currently owned by institutional investors.

NN Stock Performance

NNBR stock opened at $3.78 on Monday. NN, Inc. has a 1-year low of $1.10 and a 1-year high of $4.48. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.79 and a quick ratio of 1.08. The company has a market capitalization of $312.15 million, a price-to-earnings ratio of -3.94 and a beta of 2.57. The business has a 50 day simple moving average of $3.42 and a two-hundred day simple moving average of $2.50.

NN (NASDAQ:NNBR - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter. NN had a negative net margin of 6.21% and a positive return on equity of 20.38%. The firm had revenue of $128.74 million for the quarter, compared to analysts' expectations of $116.09 million. Research analysts anticipate that NN, Inc. will post 0.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NNBR. Zacks Research raised shares of NN from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 6th. Craig Hallum began coverage on shares of NN in a report on Monday, July 20th. They issued a "buy" rating and a $7.00 target price for the company. Lake Street Capital reiterated a "buy" rating and issued a $7.00 price target on shares of NN in a research note on Friday, August 7th. Wall Street Zen cut NN from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of NN in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $5.67.

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.

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