NN (NASDAQ:NNBR) Major Shareholder Sells $217,074.00 in Stock

NN, Inc. (NASDAQ:NNBR) major shareholder John Frederick Barrett sold 94,380 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $2.30, for a total transaction of $217,074.00. Following the completion of the transaction, the insider owned 5,272,384 shares in the company, valued at $12,126,483.20. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases 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 transaction 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 transaction of $30,619.49.
• 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 transaction of $1,493,770.45.
• On Tuesday, April 21st, John Frederick Barrett sold 55,483 shares of NN stock. The shares were 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $2.06, for a total transaction of $649,798.16.

NN Trading Up 6.0%

NNBR opened at $2.46 on Friday. NN, Inc. has a twelve month low of $1.10 and a twelve month high of $2.88. The company has a 50-day simple moving average of $1.68 and a 200 day simple moving average of $1.55. The company has a quick ratio of 1.09, a current ratio of 1.83 and a debt-to-equity ratio of 4.52. The stock has a market capitalization of $123.47 million, a price-to-earnings ratio of -2.30, a P/E/G ratio of 0.45 and a beta of 2.54.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed 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 cut their price objective on shares of NN from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $3.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Two Sigma Investments LP bought a new position in shares of NN in the third quarter worth about $27,000. Hudson Bay Capital Management LP bought a new position in shares of NN in the second quarter worth about $29,000. Virtu Financial LLC bought a new position in shares of NN in the fourth quarter worth about $30,000. Quinn Opportunity Partners LLC bought a new position in shares of NN in the fourth quarter worth about $32,000. Finally, Squarepoint Ops LLC bought a new position in shares of NN in the third quarter worth about $88,000. Institutional investors own 53.92% of the company’s stock.

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.