Virtu KCG Holdings LLC Invests $323,000 in NN, Inc. (NNBR)
Virtu KCG Holdings LLC bought a new position in shares of NN, Inc. (NASDAQ:NNBR) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 11,780 shares of the industrial products company’s stock, valued at approximately $323,000.
Several other large investors have also recently modified their holdings of the company. Citadel Advisors LLC raised its position in shares of NN by 15.7% during the second quarter. Citadel Advisors LLC now owns 29,868 shares of the industrial products company’s stock worth $820,000 after purchasing an additional 4,064 shares during the period. EAM Investors LLC acquired a new position in shares of NN during the second quarter worth approximately $768,000. California Public Employees Retirement System raised its position in shares of NN by 2.2% during the second quarter. California Public Employees Retirement System now owns 82,800 shares of the industrial products company’s stock worth $2,273,000 after purchasing an additional 1,800 shares during the period. Vanguard Group Inc. raised its position in shares of NN by 5.0% during the second quarter. Vanguard Group Inc. now owns 1,135,524 shares of the industrial products company’s stock worth $31,171,000 after purchasing an additional 53,688 shares during the period. Finally, AlphaOne Investment Services LLC raised its position in shares of NN by 1.1% during the second quarter. AlphaOne Investment Services LLC now owns 132,642 shares of the industrial products company’s stock worth $3,642,000 after purchasing an additional 1,400 shares during the period. 91.27% of the stock is currently owned by institutional investors.
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Shares of NN, Inc. (NNBR) opened at 30.55 on Thursday. The company’s market cap is $841.35 million. The company’s 50-day moving average price is $28.04 and its 200 day moving average price is $27.63. NN, Inc. has a one year low of $13.43 and a one year high of $31.65.
NN (NASDAQ:NNBR) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. The business had revenue of $225.88 million during the quarter, compared to analysts’ expectations of $221.00 million. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 earnings per share. On average, equities research analysts anticipate that NN, Inc. will post $1.60 earnings per share for the current year.
A number of brokerages have recently weighed in on NNBR. Zacks Investment Research lowered NN from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 9th. BidaskClub downgraded NN from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. William Blair reiterated a “market perform” rating on shares of NN in a report on Thursday, August 17th. KeyCorp reiterated a “buy” rating and set a $36.00 price target on shares of NN in a report on Sunday, September 17th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $29.00 price target on shares of NN in a report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. NN has an average rating of “Hold” and an average price target of $33.00.
In other NN news, insider Thomas C. Jr. Burwell sold 6,000 shares of NN stock in a transaction on Monday, September 18th. The stock was sold at an average price of $27.38, for a total value of $164,280.00. Following the completion of the sale, the insider now owns 37,881 shares of the company’s stock, valued at approximately $1,037,181.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven T. Warshaw sold 3,000 shares of NN stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $27.78, for a total value of $83,340.00. Following the completion of the sale, the director now directly owns 57,732 shares of the company’s stock, valued at approximately $1,603,794.96. The disclosure for this sale can be found here. In the last three months, insiders sold 16,000 shares of company stock valued at $436,660. Corporate insiders own 2.80% of the company’s stock.
NN, Inc is a diversified industrial company and a global manufacturer of high precision components and assemblies to a range of markets on a global basis. The Company’s operating segments include: the Precision Engineered Products Group and the Autocam Precision Components Group. Precision Engineered Products Group combines materials science capability with engineering and production solutions to design and manufacture a range of high-precision metal and plastic components, assemblies and finished devices for the medical, electrical, automotive and aerospace end markets.
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