Insider Selling: NN (NASDAQ:NNBR) Major Shareholder Sells $649,798.16 in Stock

NN, Inc. (NASDAQ:NNBR) major shareholder John Frederick Barrett sold 315,436 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $2.06, for a total value of $649,798.16. Following the sale, the insider owned 5,890,195 shares in the company, valued at approximately $12,133,801.70. This trade represents a 5.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s shares 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 stock was 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 stock was 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 stock was sold at an average price of $2.69, for a total transaction of $1,493,770.45.
• On Wednesday, April 22nd, John Frederick Barrett sold 94,380 shares of NN stock. The stock was sold at an average price of $2.30, for a total transaction of $217,074.00.
• On Tuesday, April 21st, John Frederick Barrett sold 55,483 shares of NN stock. The stock was 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 stock was 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 stock was 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 stock was sold at an average price of $2.04, for a total transaction of $81,661.20.

NN Price Performance

NNBR stock opened at $2.46 on Friday. NN, Inc. has a 52-week low of $1.10 and a 52-week high of $2.88. The stock’s fifty day simple moving average is $1.68 and its 200-day simple moving average is $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 price-to-earnings-growth ratio of 0.45 and a beta of 2.54.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NNBR. Zacks Research cut NN from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NN in a report on Tuesday, April 21st. Finally, B. Riley Financial reduced their target price on NN from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, March 6th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $3.00.

Institutional Investors Weigh In On NN

Institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP purchased a new stake in shares of NN in the third quarter worth about $27,000. Hudson Bay Capital Management LP purchased a new position in shares of NN in the second quarter valued at $29,000. Virtu Financial LLC purchased a new position in shares of NN in the fourth quarter valued at $30,000. Quinn Opportunity Partners LLC purchased a new position in shares of NN in the fourth quarter valued at $32,000. Finally, Squarepoint Ops LLC purchased a new position in shares of NN in the third quarter valued at $88,000. Hedge funds and other institutional investors own 53.92% of the company’s stock.

About NN

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.