Insider Buying: NN, Inc. (NASDAQ:NNBR) Major Shareholder Acquires 274,619 Shares of Stock

NN, Inc. (NASDAQ:NNBRGet Rating) major shareholder Corre Partners Management, Llc acquired 274,619 shares of the business’s stock in a transaction that occurred on Tuesday, April 19th. The shares were bought at an average price of $2.60 per share, with a total value of $714,009.40. Following the completion of the transaction, the insider now directly owns 4,042,949 shares in the company, valued at $10,511,667.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% 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 Thursday, April 21st, Corre Partners Management, Llc acquired 69,495 shares of NN stock. The shares were bought at an average price of $2.75 per share, with a total value of $191,111.25.

Shares of NASDAQ NNBR remained flat at $$2.74 during trading on Thursday. 579,827 shares of the company’s stock were exchanged, compared to its average volume of 230,267. The company has a current ratio of 2.65, a quick ratio of 1.64 and a debt-to-equity ratio of 0.67. The stock has a market cap of $120.26 million, a PE ratio of -3.43 and a beta of 3.13. The business’s 50 day moving average is $2.77 and its 200 day moving average is $3.93. NN, Inc. has a one year low of $2.28 and a one year high of $9.62.

NN (NASDAQ:NNBRGet Rating) last announced its earnings results on Thursday, March 10th. The industrial products company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.05. NN had a negative net margin of 2.77% and a positive return on equity of 0.75%. The business had revenue of $110.38 million during the quarter, compared to analysts’ expectations of $110.90 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. As a group, equities analysts expect that NN, Inc. will post 0.28 EPS for the current year.

A number of brokerages recently weighed in on NNBR. Zacks Investment Research raised shares of NN from a “sell” rating to a “hold” rating in a research report on Saturday, January 8th. StockNews.com initiated coverage on shares of NN in a report on Thursday, March 31st. They issued a “hold” rating for the company.

Several institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC grew its stake in NN by 197.0% during the fourth quarter. Barclays PLC now owns 51,879 shares of the industrial products company’s stock worth $212,000 after buying an additional 34,412 shares in the last quarter. Virtu Financial LLC bought a new position in NN during the 4th quarter worth approximately $61,000. Parametric Portfolio Associates LLC increased its stake in shares of NN by 94.0% in the 4th quarter. Parametric Portfolio Associates LLC now owns 727,379 shares of the industrial products company’s stock valued at $2,982,000 after acquiring an additional 352,430 shares in the last quarter. Legion Partners Asset Management LLC increased its stake in shares of NN by 0.5% in the 4th quarter. Legion Partners Asset Management LLC now owns 4,074,151 shares of the industrial products company’s stock valued at $16,704,000 after acquiring an additional 20,000 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of NN by 166.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 145,446 shares of the industrial products company’s stock valued at $596,000 after acquiring an additional 90,785 shares in the last quarter. 87.15% of the stock is currently owned by institutional investors.

About NN (Get Rating)

NN, Inc, a diversified industrial company, designs, manufactures, and sells high-precision components and assemblies. It operates through two segments, Mobile Solutions and Power Solutions. The Mobile Solutions segment manufactures and sells system critical components for general industrial and automotive end markets.

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