Goldman Sachs Group Inc. Sells 26,216 Shares of NN, Inc. $NNBR

Goldman Sachs Group Inc. lessened its stake in NN, Inc. (NASDAQ:NNBR) by 19.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,279 shares of the industrial products company’s stock after selling 26,216 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.22% of NN worth $247,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Bank of America Corp DE raised its position in NN by 53.6% in the 4th quarter. Bank of America Corp DE now owns 40,124 shares of the industrial products company’s stock valued at $131,000 after buying an additional 14,002 shares during the last quarter. ProShare Advisors LLC bought a new stake in shares of NN in the 4th quarter worth $43,000. Register Financial Advisors LLC raised its holdings in shares of NN by 0.5% in the first quarter. Register Financial Advisors LLC now owns 1,249,380 shares of the industrial products company’s stock valued at $2,824,000 after purchasing an additional 6,243 shares during the last quarter. Bailard Inc. bought a new position in shares of NN during the first quarter valued at about $39,000. Finally, De Lisle Partners LLP boosted its holdings in NN by 21.5% during the first quarter. De Lisle Partners LLP now owns 410,228 shares of the industrial products company’s stock worth $929,000 after purchasing an additional 72,633 shares during the last quarter. Hedge funds and other institutional investors own 53.92% of the company’s stock.

Analysts Set New Price Targets

NNBR has been the subject of several analyst reports. Zacks Research upgraded shares of NN to a “hold” rating in a research note on Friday, September 12th. B. Riley initiated coverage on NN in a report on Thursday, July 31st. They issued a “buy” rating and a $4.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $4.00.

NN Stock Performance

Shares of NNBR opened at $2.17 on Monday. NN, Inc. has a 1 year low of $1.58 and a 1 year high of $4.67. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.93 and a quick ratio of 1.22. The stock’s fifty day moving average price is $2.28 and its two-hundred day moving average price is $2.15. The firm has a market cap of $109.48 million, a PE ratio of -1.92 and a beta of 2.16.

NN (NASDAQ:NNBR) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. The company had revenue of $107.92 million during the quarter, compared to analyst estimates of $110.45 million. NN had a negative return on equity of 5.29% and a negative net margin of 8.84%. On average, equities research analysts forecast that NN, Inc. will post -0.2 EPS for the current year.

NN Company Profile

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.