Insider Selling: NN (NASDAQ:NNBR) Major Shareholder Sells 55,483 Shares of Stock

Key Points

• Major shareholder Corre Partners Management sold a total of approximately 933,247 NNBR shares between April 15–22 (including 55,483 shares on April 21 at $2.21), and its reported stake fell to 586,197 shares (post‑April 21 filing).
• NN, Inc. shares traded around $2.36 midday with a market cap of $118.45M, a 12‑month range of $1.10–$2.63 and a negative P/E of -2.21, signalling weak profitability.
• Analyst sentiment is largely bearish — the stock has an average rating of "Reduce" with a $3.00 consensus price target, one Buy and two Sell ratings noted from recent reports.

NN, Inc. (NASDAQ:NNBR - Get Free Report) major shareholder Corre Partners Management, Llc sold 55,483 shares of the stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $2.21, for a total value of $122,617.43. Following the transaction, the insider owned 586,197 shares of the company's stock, valued at approximately $1,295,495.37. The trade was a 8.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company's shares 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 shares were sold at an average price of $2.30, for a total value of $217,074.00.
• On Monday, April 20th, Corre Partners Management, Llc sold 79,757 shares of NN stock. The shares were sold at an average price of $2.24, for a total value of $178,655.68.
• On Friday, April 17th, Corre Partners Management, Llc sold 348,161 shares of NN stock. The shares were sold at an average price of $2.29, for a total value 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 value 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 value of $649,798.16.

NN Stock Performance

Shares of NASDAQ NNBR traded up $0.17 during midday trading on Wednesday, hitting $2.36. 1,110,874 shares of the company's stock were exchanged, compared to its average volume of 1,102,762. The company has a quick ratio of 1.09, a current ratio of 1.83 and a debt-to-equity ratio of 4.52. NN, Inc. has a 12 month low of $1.10 and a 12 month high of $2.63. The company's 50 day moving average price is $1.59 and its 200 day moving average price is $1.53. The firm has a market capitalization of $118.45 million, a PE ratio of -2.21, a price-to-earnings-growth ratio of 0.42 and a beta of 2.21.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of NN in a research note on Thursday, January 22nd. B. Riley Financial reduced their target price on NN from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Friday, March 6th. Finally, Zacks Research downgraded NN from a "hold" rating to a "strong sell" rating in a research note on Wednesday, March 11th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $3.00.

Institutional Trading of NN

Hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP acquired a new stake in NN during the 3rd quarter worth approximately $27,000. Hudson Bay Capital Management LP acquired a new stake in NN during the 2nd quarter worth approximately $29,000. Virtu Financial LLC acquired a new stake in NN during the 4th quarter worth approximately $30,000. Quinn Opportunity Partners LLC acquired a new stake in NN during the 4th quarter worth approximately $32,000. Finally, Laurel Oak Wealth Management LLC acquired a new stake in NN during the 1st quarter worth approximately $72,000. 53.92% of the stock is owned by institutional investors and hedge funds.

NN Company Profile

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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