Penn Capital Management Company LLC Buys 320,062 Shares of NN, Inc. $NNBR

Penn Capital Management Company LLC purchased a new position in NN, Inc. (NASDAQ:NNBR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 320,062 shares of the industrial products company’s stock, valued at approximately $1,175,000. Penn Capital Management Company LLC owned 0.34% of NN as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of NNBR. AIGH Capital Management LLC lifted its position in NN by 65,414.4% during the third quarter. AIGH Capital Management LLC now owns 7,531,532 shares of the industrial products company’s stock worth $27,641,000 after purchasing an additional 7,520,036 shares during the period. Corre Partners Management LLC bought a new position in NN in the 2nd quarter valued at about $4,446,707. RBF Capital LLC increased its holdings in NN by 71.8% in the 1st quarter. RBF Capital LLC now owns 834,929 shares of the industrial products company’s stock valued at $1,211,000 after buying an additional 348,945 shares during the period. BlackRock Inc. bought a new stake in shares of NN during the 2nd quarter worth approximately $2,743,000. Finally, Ranger Investment Management L.P. bought a new stake in shares of NN during the 2nd quarter worth approximately $2,040,000. Institutional investors and hedge funds own 53.92% of the company’s stock.

Analyst Upgrades and Downgrades

NNBR has been the topic of a number of recent analyst reports. Zacks Research raised shares of NN from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 9th. Weiss Ratings restated a “sell (d-)” rating on shares of NN in a research report on Thursday, October 15th. Craig Hallum initiated coverage on NN in a research note on Monday, July 20th. They set a “buy” rating and a $7.00 target price for the company. Lake Street Capital reaffirmed a “buy” rating and issued a $7.00 target price on shares of NN in a report on Friday, August 7th. Finally, Wall Street Zen lowered NN from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.67.

NN Stock Down 1.6%

Shares of NASDAQ NNBR opened at $3.04 on Wednesday. The company has a 50 day simple moving average of $3.58 and a 200 day simple moving average of $2.77. The firm has a market cap of $284.97 million, a PE ratio of 15.45 and a beta of 2.74. NN, Inc. has a 1 year low of $1.10 and a 1 year high of $4.79. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.75 and a quick ratio of 1.07.

NN (NASDAQ:NNBR) last posted its earnings results on Wednesday, October 28th. The industrial products company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The firm had revenue of $131.10 million for the quarter, compared to analyst estimates of $118.10 million. NN had a negative net margin of 5.43% and a positive return on equity of 25.25%. On average, research analysts forecast that NN, Inc. will post 0.20 EPS for the current year.

NN Profile

NN, Inc. (NASDAQ: NNBR) is a diversified industrial manufacturer that produces highly engineered components and assemblies for customers in the automotive, electrical, industrial, aerospace, and medical markets. Its products are designed for applications that require precision, durability, and consistent performance. The company’s manufacturing capabilities have included precision machining, metal forming, plastic injection molding, and the production of complex assemblies. NN, Inc. has supplied components used in systems such as automotive powertrains, electrical and industrial equipment, medical devices, and other specialized products.