Corre Partners Management, Llc Purchases 106,621 Shares of NN, Inc. (NASDAQ:NNBR) Stock

NN, Inc. (NASDAQ:NNBRGet Rating) major shareholder Corre Partners Management, Llc acquired 106,621 shares of NN stock in a transaction on Friday, May 13th. The shares were purchased at an average price of $2.34 per share, for a total transaction of $249,493.14. Following the completion of the acquisition, the insider now directly owns 4,278,867 shares in the company, valued at $10,012,548.78. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Major 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, May 16th, Corre Partners Management, Llc acquired 2,800 shares of NN stock. The shares were purchased at an average price of $2.34 per share, for a total transaction of $6,552.00.
  • On Thursday, April 21st, Corre Partners Management, Llc acquired 69,495 shares of NN stock. The shares were purchased at an average price of $2.75 per share, for a total transaction of $191,111.25.
  • On Tuesday, April 19th, Corre Partners Management, Llc bought 274,619 shares of NN stock. The shares were bought at an average cost of $2.60 per share, for a total transaction of $714,009.40.

NN stock opened at $2.46 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.37 and a quick ratio of 1.48. The stock has a market capitalization of $107.97 million, a price-to-earnings ratio of -5.23 and a beta of 2.85. NN, Inc. has a 1-year low of $2.16 and a 1-year high of $9.62. The business has a fifty day moving average price of $2.80 and a 200-day moving average price of $3.65.

NN (NASDAQ:NNBRGet Rating) last posted its quarterly earnings data on Thursday, March 10th. The industrial products company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.05. The firm had revenue of $110.38 million during the quarter, compared to analysts’ expectations of $110.90 million. NN had a negative return on equity of 0.30% and a negative net margin of 2.43%. During the same quarter last year, the firm earned $0.17 EPS. On average, equities research analysts anticipate that NN, Inc. will post 0.19 earnings per share for the current fiscal year.

Several analysts have issued reports on the company. Zacks Investment Research cut NN from a “hold” rating to a “strong sell” rating in a research report on Saturday. StockNews.com assumed coverage on NN in a research report on Thursday, March 31st. They set a “hold” rating on the stock.

A number of hedge funds have recently modified their holdings of the stock. Legion Partners Asset Management LLC raised its stake in 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 worth $16,704,000 after acquiring an additional 20,000 shares during the last quarter. Royce & Associates LP raised its stake in NN by 7.9% in the 1st quarter. Royce & Associates LP now owns 2,153,173 shares of the industrial products company’s stock worth $6,201,000 after acquiring an additional 156,900 shares during the last quarter. Smith Graham & Co. Investment Advisors LP raised its stake in NN by 4.5% in the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 1,524,579 shares of the industrial products company’s stock worth $6,251,000 after acquiring an additional 66,243 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in NN in the 4th quarter worth $5,969,000. Finally, Royal Bank of Canada raised its stake in NN by 8.8% in the 1st quarter. Royal Bank of Canada now owns 753,336 shares of the industrial products company’s stock worth $2,170,000 after acquiring an additional 61,176 shares during the last quarter. Institutional investors own 84.34% of the company’s stock.

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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