NN (NASDAQ:NNBR) Major Shareholder Sells $30,619.49 in Stock

Key Points

• Corre Partners Management, LLC sold multiple large blocks of NN, Inc. (NNBR) stock in mid–to–late April — including 12,199 shares on April 24 for $30,619 — and after the transactions its direct holding fell to 409,164 shares (a 2.9% decrease), with cumulative sales over the period totaling several million dollars.
• NNBR traded up 6.4% to $2.65 on Monday with volume near average; the company has a market cap of $133M and a negative P/E, and analysts carry a consensus "Reduce" rating with an average price target of $3.00 (one Buy, two Sell).

NN, Inc. (NASDAQ:NNBR - Get Free Report) major shareholder Corre Partners Management, Llc sold 12,199 shares of the business's stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $2.51, for a total transaction of $30,619.49. Following the sale, the insider directly owned 409,164 shares in the company, valued at $1,027,001.64. The trade was a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Corre Partners Management, Llc also recently made the following trade(s):

• On Monday, April 27th, Corre Partners Management, Llc sold 136,165 shares of NN stock. The stock was sold at an average price of $2.63, for a total transaction of $358,113.95.
• On Thursday, April 23rd, Corre Partners Management, Llc sold 555,305 shares of NN stock. The stock was sold at an average price of $2.69, for a total transaction of $1,493,770.45.
• On Wednesday, April 22nd, Corre Partners Management, Llc 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, Corre Partners Management, Llc 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, Corre Partners Management, Llc 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, Corre Partners Management, Llc 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, 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 transaction 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 transaction of $649,798.16.

NN Trading Up 6.4%

NNBR traded up $0.16 during trading on Monday, reaching $2.65. 1,376,934 shares of the company's stock were exchanged, compared to its average volume of 1,361,684. NN, Inc. has a one year low of $1.10 and a one year high of $2.88. The company has a current ratio of 1.83, a quick ratio of 1.09 and a debt-to-equity ratio of 4.52. The stock has a market capitalization of $133.00 million, a PE ratio of -2.48, a price-to-earnings-growth ratio of 0.48 and a beta of 2.21. The firm has a fifty day moving average price of $1.64 and a two-hundred day moving average price of $1.54.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Two Sigma Investments LP acquired a new position in shares of NN in the 3rd quarter worth approximately $27,000. Hudson Bay Capital Management LP acquired a new position in shares of NN in the 2nd quarter worth approximately $29,000. Virtu Financial LLC acquired a new position in shares of NN in the 4th quarter worth approximately $30,000. Quinn Opportunity Partners LLC acquired a new position in shares of NN in the 4th quarter worth approximately $32,000. Finally, Squarepoint Ops LLC acquired a new position in shares of NN in the 3rd quarter worth approximately $88,000. Institutional investors and hedge funds own 53.92% of the company's stock.

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.

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