John Frederick Barrett Sells 12,199 Shares of NN (NASDAQ:NNBR) Stock

Key Points

• John Frederick Barrett sold about 1.64 million NNBR shares across multiple trades from April 15–27, generating roughly $3.93 million in proceeds, and after the April 24 sale still directly owned 4,704,880 shares (≈$11.81M).
• NN, Inc. stock fell about 9.4% to $2.30 on heavy volume (984,519 shares) after the disclosures, and carries a MarketBeat consensus rating of "Reduce" with a $3.00 price target amid mixed analyst opinions.

NN, Inc. (NASDAQ:NNBR - Get Free Report) major shareholder John Frederick Barrett sold 12,199 shares of the stock in a transaction on Friday, April 24th. The shares were sold at an average price of $2.51, for a total value of $30,619.49. Following the sale, the insider directly owned 4,704,880 shares in the company, valued at approximately $11,809,248.80. The trade was a 0.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% 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 Thursday, April 23rd, John Frederick Barrett sold 555,305 shares of NN stock. The shares were sold at an average price of $2.69, for a total value of $1,493,770.45.
• 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 value 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 value 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 value 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 value 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 value 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 value of $649,798.16.

NN Trading Down 9.4%

NASDAQ NNBR traded down $0.24 during trading hours on Wednesday, hitting $2.30. 984,519 shares of the company's stock were exchanged, compared to its average volume of 668,485. The business's 50 day moving average is $1.67 and its 200-day moving average is $1.55. NN, Inc. has a 12-month low of $1.10 and a 12-month high of $2.88. The firm has a market capitalization of $115.44 million, a P/E ratio of -2.15, a price-to-earnings-growth ratio of 0.51 and a beta of 2.21. The company has a debt-to-equity ratio of 4.52, a quick ratio of 1.09 and a current ratio of 1.83.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NNBR shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of NN in a research report on Tuesday, April 21st. Zacks Research downgraded NN from a "hold" rating to a "strong sell" rating in a research report on Wednesday, March 11th. Finally, B. Riley Financial reduced their target price on NN from $4.00 to $3.00 and set a "buy" rating on the stock in a research report on Friday, March 6th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $3.00.

Hedge Funds Weigh In On NN

Large investors have recently modified their holdings of the company. Two Sigma Investments LP purchased a new position in shares of NN in the 3rd quarter worth about $27,000. Hudson Bay Capital Management LP purchased a new position in shares of NN in the 2nd quarter worth about $29,000. Virtu Financial LLC purchased a new position in shares of NN in the 4th quarter worth about $30,000. Quinn Opportunity Partners LLC purchased a new position in shares of NN in the 4th quarter worth about $32,000. Finally, Laurel Oak Wealth Management LLC purchased a new position in shares of NN in the 1st quarter worth about $72,000. 53.92% of the stock is currently owned by hedge funds and other institutional investors.

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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