Insider Selling: NN, Inc. (NASDAQ:NNBR) Major Shareholder Sells $1,654,928.10 in Stock

NN, Inc. (NASDAQ:NNBR) major shareholder Corre Partners Management, Llc sold 427,630 shares of NN stock in a transaction dated 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 sale, the insider now owns 810,567 shares in the company, valued at approximately $3,136,894.29. This represents a 34.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

NN Price Performance

NASDAQ NNBR opened at $2.65 on Friday. The company has a 50-day moving average price of $3.55 and a two-hundred day moving average price of $3.63. The stock has a market cap of $132.36 million, a price-to-earnings ratio of -2.43, a price-to-earnings-growth ratio of 1.56 and a beta of 2.99. The company has a current ratio of 1.96, a quick ratio of 1.18 and a debt-to-equity ratio of 1.27. NN, Inc. has a 52 week low of $2.38 and a 52 week high of $5.40.

Hedge Funds Weigh In On NN

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NNBR. BNP Paribas Financial Markets boosted its position in NN by 41.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,103 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 3,251 shares during the period. SG Americas Securities LLC raised its stake in shares of NN by 37.7% during the fourth quarter. SG Americas Securities LLC now owns 21,023 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 5,752 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in NN by 7.2% in the second quarter. Renaissance Technologies LLC now owns 127,000 shares of the industrial products company’s stock worth $381,000 after purchasing an additional 8,500 shares during the period. Empowered Funds LLC increased its stake in NN by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 179,637 shares of the industrial products company’s stock valued at $701,000 after buying an additional 9,112 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of NN during the 3rd quarter worth about $39,000. 53.92% of the stock is owned by institutional investors.

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.