NN, Inc. (NASDAQ:NNBR) Major Shareholder Corre Partners Management, Llc Sells 427,630 Shares

NN, Inc. (NASDAQ:NNBR) major shareholder Corre Partners Management, Llc sold 427,630 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $3.87, for a total transaction of $1,654,928.10. Following the completion of the transaction, the insider now directly owns 810,567 shares in the company, valued at $3,136,894.29. This represents a 34.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

NN Stock Performance

Shares of NNBR opened at $2.60 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.18 and a current ratio of 1.96. The stock has a market capitalization of $129.87 million, a P/E ratio of -2.39, a P/E/G ratio of 1.56 and a beta of 2.99. The company’s fifty day moving average is $3.57 and its two-hundred day moving average is $3.63. NN, Inc. has a 1 year low of $2.38 and a 1 year high of $5.40.

Hedge Funds Weigh In On NN

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Legion Partners Asset Management LLC grew its stake in shares of NN by 11.9% during the 2nd quarter. Legion Partners Asset Management LLC now owns 4,791,929 shares of the industrial products company’s stock worth $14,376,000 after purchasing an additional 510,000 shares during the period. Nantahala Capital Management LLC grew its stake in shares of NN by 3.6% during the 2nd quarter. Nantahala Capital Management LLC now owns 1,456,446 shares of the industrial products company’s stock worth $4,369,000 after purchasing an additional 50,000 shares during the period. Geode Capital Management LLC grew its stake in shares of NN by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,106,498 shares of the industrial products company’s stock worth $4,316,000 after purchasing an additional 26,024 shares during the period. American Century Companies Inc. boosted its position in shares of NN by 80.7% in the 2nd quarter. American Century Companies Inc. now owns 642,568 shares of the industrial products company’s stock worth $1,928,000 after buying an additional 287,060 shares in the last quarter. Finally, State Street Corp boosted its position in shares of NN by 5.9% in the 3rd quarter. State Street Corp now owns 514,408 shares of the industrial products company’s stock worth $2,006,000 after buying an additional 28,678 shares in the last quarter. 53.92% of the stock is owned by institutional investors and hedge funds.

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.