RBF Capital LLC Has $1.21 Million Stake in NN, Inc. $NNBR

Key Points

• RBF Capital increased its NN, Inc. stake by 71.8% in the first quarter, acquiring 348,945 additional shares and ending with 834,929 shares valued at approximately $1.21 million. Institutional investors collectively own 53.92% of NN’s stock.
• NN reported quarterly revenue of $118.45 million and earnings of $0.02 per share, beating analysts’ estimates of $106.59 million in revenue and a $0.05-per-share loss. Analysts project full-year earnings of $0.16 per share.
• NN shares recently traded at $3.08, while analysts maintain a consensus “Hold” rating with an average price target of $5.00; recommendations range from “Sell” to “Buy,” including a $7.00 target from Craig Hallum.

RBF Capital LLC increased its stake in NN, Inc. (NASDAQ:NNBR - Free Report) by 71.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 834,929 shares of the industrial products company's stock after acquiring an additional 348,945 shares during the quarter. RBF Capital LLC owned 1.58% of NN worth $1,211,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nantahala Capital Management LLC grew its stake in shares of NN by 69.4% in 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 buying an additional 1,000,000 shares during the period. Paradigm Capital Management Inc. NY raised 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 worth $5,792,000 after buying an additional 483,952 shares during the period. UBS Group AG boosted its holdings in NN by 15,147.1% in the third quarter. UBS Group AG now owns 279,632 shares of the industrial products company's stock worth $576,000 after acquiring an additional 277,798 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in NN by 291.0% in the fourth quarter. Renaissance Technologies LLC now owns 367,500 shares of the industrial products company's stock worth $470,000 after acquiring an additional 273,500 shares in the last quarter. Finally, First Manhattan CO. LLC. grew its stake in NN by 8.2% in 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 acquiring an additional 228,800 shares during the period. Institutional investors and hedge funds own 53.92% of the company's stock.

NN Stock Performance

Shares of NNBR opened at $3.08 on Thursday. The firm has a market capitalization of $162.44 million, a P/E ratio of -2.83 and a beta of 2.56. NN, Inc. has a 52 week low of $1.10 and a 52 week high of $4.44. The stock has a 50 day moving average price of $3.13 and a two-hundred day moving average price of $2.23. The company has a debt-to-equity ratio of 6.39, a quick ratio of 1.16 and a current ratio of 1.87.

NN (NASDAQ:NNBR - Get Free Report) last announced its earnings results on Wednesday, May 6th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.07. NN had a positive return on equity of 4.54% and a negative net margin of 7.85%.The company had revenue of $118.45 million for the quarter, compared to analysts' expectations of $106.59 million. Equities analysts forecast that NN, Inc. will post 0.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NN news, Director Raymond T. White sold 18,782 shares of NN stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $2.41, for a total transaction of $45,264.62. Following the transaction, the director directly owned 858,283 shares of the company's stock, valued at $2,068,462.03. The trade was a 2.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 19.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Zacks Research upgraded NN from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 6th. B. Riley Financial cut NN from a "buy" rating to a "neutral" rating in a report on Monday, May 11th. Craig Hallum began coverage on shares of NN in a research report on Monday, July 20th. They issued a "buy" rating and a $7.00 price target for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of NN in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, NN presently has a consensus rating of "Hold" and an average target price of $5.00.

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.

Want to see what other hedge funds are holding NNBR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NN, Inc. (NASDAQ:NNBR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.