Insider Selling: NN (NASDAQ:NNBR) Major Shareholder Sells 555,305 Shares of Stock

Key Points

• Major shareholder John Frederick Barrett sold 555,305 shares on April 23 at an average price of $2.69 (≈$1.49M) and completed multiple April sales that reduced his stake by 10.53% to 4,717,079 shares.
• NNBR shares fell about 9.4% to $2.30 on Wednesday with elevated volume (984,519 vs. average 668,485), trading within a 52-week range of $1.10–$2.88.
• Analysts are cautious: the stock carries an average "Reduce" rating with a consensus target of $3.00, and institutional/hedge fund ownership is roughly 53.92%.

NN, Inc. (NASDAQ:NNBR - Get Free Report) major shareholder John Frederick Barrett sold 555,305 shares of the company's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $2.69, for a total value of $1,493,770.45. Following the completion of the transaction, the insider directly owned 4,717,079 shares in the company, valued at $12,688,942.51. This represents a 10.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

John Frederick Barrett also recently made the following trade(s):

• On Monday, April 27th, John Frederick Barrett sold 136,165 shares of NN stock. The shares were sold at an average price of $2.63, for a total value of $358,113.95.
• On Friday, April 24th, John Frederick Barrett sold 12,199 shares of NN stock. The shares were sold at an average price of $2.51, for a total value of $30,619.49.
• On Wednesday, April 22nd, John Frederick Barrett sold 94,380 shares of NN stock. The stock was sold at an average price of $2.30, for a total transaction of $217,074.00.
• On Tuesday, April 21st, John Frederick Barrett sold 55,483 shares of NN stock. The stock was sold at an average price of $2.21, for a total transaction of $122,617.43.
• On Monday, April 20th, John Frederick Barrett sold 79,757 shares of NN stock. The stock was sold at an average price of $2.24, for a total transaction of $178,655.68.
• On Friday, April 17th, John Frederick Barrett sold 348,161 shares of NN stock. The stock was sold at an average price of $2.29, for a total transaction of $797,288.69.
• On Thursday, April 16th, John Frederick Barrett sold 40,030 shares of NN stock. The stock was sold at an average price of $2.04, for a total transaction of $81,661.20.
• On Wednesday, April 15th, John Frederick Barrett sold 315,436 shares of NN stock. The stock was sold at an average price of $2.06, for a total transaction of $649,798.16.

NN Trading Down 9.4%

NASDAQ NNBR traded down $0.24 on Wednesday, hitting $2.30. 984,519 shares of the stock were exchanged, compared to its average volume of 668,485. NN, Inc. has a 52-week low of $1.10 and a 52-week high of $2.88. The company has a debt-to-equity ratio of 4.52, a current ratio of 1.83 and a quick ratio of 1.09. The company has a market capitalization of $115.44 million, a price-to-earnings ratio of -2.15, a P/E/G ratio of 0.51 and a beta of 2.21. The company's 50-day moving average price is $1.67 and its two-hundred day moving average price is $1.55.

Hedge Funds Weigh In On NN

Institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP purchased a new position in shares of NN during the 3rd quarter valued at $27,000. Hudson Bay Capital Management LP purchased a new position in shares of NN during the 2nd quarter valued at $29,000. Virtu Financial LLC purchased a new position in shares of NN during the 4th quarter valued at $30,000. Quinn Opportunity Partners LLC purchased a new position in shares of NN during the 4th quarter valued at $32,000. Finally, Squarepoint Ops LLC purchased a new position in shares of NN during the 3rd quarter valued at $88,000. 53.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on NNBR. Weiss Ratings reiterated a "sell (d-)" rating on shares of NN in a research report on Tuesday, April 21st. Zacks Research cut shares of NN from a "hold" rating to a "strong sell" rating in a research report on Wednesday, March 11th. Finally, B. Riley Financial lowered their price target on shares of NN from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Friday, March 6th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $3.00.

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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