John Frederick Barrett Sells 348,161 Shares of NN (NASDAQ:NNBR) Stock

Key Points

• Major shareholder John Frederick Barrett sold a total of 1,636,916 NNBR shares across multiple transactions from April 15–27, reducing his stake by 5.95%; he now owns 5,502,004 shares valued at about $12.6 million and generated roughly $3.93 million in proceeds.
• NN, Inc. (NNBR) is trading near $2.30 with a market cap of about $115.4 million, a 1‑year range of $1.10–$2.88 and a negative P/E; analysts’ consensus is a “Reduce” rating with a $3.00 target.
• Institutional investors hold roughly 53.9% of NNBR, and several funds (including Nantahala, Paradigm, UBS and Renaissance Technologies) recently increased their positions meaningfully.

NN, Inc. (NASDAQ:NNBR - Get Free Report) major shareholder John Frederick Barrett sold 348,161 shares of the business's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $2.29, for a total value of $797,288.69. Following the completion of the sale, the insider owned 5,502,004 shares of the company's stock, valued at approximately $12,599,589.16. This trade represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company's stock 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 stock was 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 stock was sold at an average price of $2.51, for a total value of $30,619.49.
• On Thursday, April 23rd, John Frederick Barrett sold 555,305 shares of NN stock. The stock was 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 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 Stock Performance

NNBR traded down $0.24 on Wednesday, hitting $2.30. The company had a trading volume of 984,519 shares, compared to its average volume of 668,485. NN, Inc. has a 1-year low of $1.10 and a 1-year high of $2.88. The stock has a market cap of $115.44 million, a price-to-earnings ratio of -2.15, a price-to-earnings-growth ratio of 0.51 and a beta of 2.21. The company's fifty day moving average price is $1.67 and its 200 day moving average price is $1.55. The company has a debt-to-equity ratio of 4.52, a current ratio of 1.83 and a quick ratio of 1.09.

Wall Street Analysts Forecast Growth

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

Institutional Trading of NN

A number of institutional investors and hedge funds have recently modified their holdings of NNBR. Nantahala Capital Management LLC increased its position in shares of NN by 69.4% during the second quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company's stock valued at $5,127,000 after purchasing an additional 1,000,000 shares during the period. Paradigm Capital Management Inc. NY increased its position in shares of NN by 21.3% during the second quarter. Paradigm Capital Management Inc. NY now owns 2,758,252 shares of the industrial products company's stock valued at $5,792,000 after purchasing an additional 483,952 shares during the period. UBS Group AG increased its position in shares of NN by 15,147.1% during the third quarter. UBS Group AG now owns 279,632 shares of the industrial products company's stock valued at $576,000 after purchasing an additional 277,798 shares during the period. Renaissance Technologies LLC increased its position in shares of NN by 291.0% during the fourth quarter. Renaissance Technologies LLC now owns 367,500 shares of the industrial products company's stock valued at $470,000 after purchasing an additional 273,500 shares during the period. Finally, First Manhattan CO. LLC. increased its position in shares of NN by 8.2% during 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 purchasing an additional 228,800 shares during the period. 53.92% of the stock is currently owned by 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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