Nierenberg Investment Management Company Inc. Trims Stock Holdings in NN, Inc. $NNBR

Nierenberg Investment Management Company Inc. lowered its stake in shares of NN, Inc. (NASDAQ:NNBR) by 93.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,555 shares of the industrial products company’s stock after selling 209,000 shares during the period. Nierenberg Investment Management Company Inc.’s holdings in NN were worth $28,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new position in NN during the 2nd quarter valued at about $343,000. Paradigm Capital Management Inc. NY lifted its stake in NN by 22.5% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 2,274,300 shares of the industrial products company’s stock worth $5,140,000 after purchasing an additional 418,100 shares in the last quarter. Nuveen LLC bought a new position in NN in the 1st quarter valued at $140,000. De Lisle Partners LLP grew its position in shares of NN by 21.5% during the 1st quarter. De Lisle Partners LLP now owns 410,228 shares of the industrial products company’s stock valued at $929,000 after purchasing an additional 72,633 shares in the last quarter. Finally, Bailard Inc. bought a new position in shares of NN in the first quarter worth $39,000. 53.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NNBR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of NN in a research note on Wednesday, October 8th. B. Riley assumed coverage on shares of NN in a research report on Thursday, July 31st. They issued a “buy” rating and a $4.00 price objective on the stock. Finally, Zacks Research raised shares of NN to a “hold” rating in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $4.00.

NN Price Performance

NNBR stock opened at $1.34 on Wednesday. The firm’s fifty day moving average is $1.91 and its 200 day moving average is $2.07. NN, Inc. has a 52 week low of $1.32 and a 52 week high of $4.67. The firm has a market cap of $67.26 million, a P/E ratio of -1.09 and a beta of 2.24. The company has a debt-to-equity ratio of 2.59, a quick ratio of 1.22 and a current ratio of 1.93.

NN (NASDAQ:NNBR) last released its earnings results on Wednesday, June 12th. The industrial products company reported ($0.12) earnings per share for the quarter. The company had revenue of $127.09 million during the quarter. NN had a negative net margin of 10.01% and a negative return on equity of 1.95%. Research analysts predict that NN, Inc. will post -0.2 earnings per share for the current year.

About NN

NN, Inc, together with its subsidiaries, designs, manufactures, and sells high-precision components and assemblies for various end markets in the United States and internationally. It operates through two segments, Mobile Solutions and Power Solutions. The Mobile Solutions segment manufactures and sells system critical components for automotive, general industrial, and medical end markets for use in power steering, braking, transmissions, gasoline fuel system, diesel injection, and diesel emissions treatment applications, as well as in heating, ventilation, and air conditioning.