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

NN, Inc. (NASDAQ:NNBR) major shareholder Corre Partners Management, Llc sold 427,630 shares of NN stock in a transaction that occurred on Tuesday, January 14th. The stock was 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 owns 810,567 shares of the company’s stock, valued at $3,136,894.29. This represents a 34.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

NN Stock Down 5.1 %

Shares of NASDAQ:NNBR opened at $2.60 on Friday. The company has a market capitalization of $129.87 million, a PE ratio of -2.39, a P/E/G 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 twelve month low of $2.38 and a twelve month high of $5.40. The firm has a 50 day simple moving average of $3.57 and a 200-day simple moving average of $3.63.

Institutional Trading of NN

Several institutional investors have recently modified their holdings of NNBR. Bank of New York Mellon Corp purchased a new stake in shares of NN during the 2nd quarter worth approximately $429,000. Rhumbline Advisers increased its holdings in shares of NN by 3,510.9% in the 2nd quarter. Rhumbline Advisers now owns 53,983 shares of the industrial products company’s stock valued at $162,000 after acquiring an additional 52,488 shares during the period. Acadian Asset Management LLC increased its holdings in shares of NN by 102.0% in the 2nd quarter. Acadian Asset Management LLC now owns 208,771 shares of the industrial products company’s stock valued at $625,000 after acquiring an additional 105,429 shares during the period. American Century Companies Inc. increased its holdings 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 valued at $1,928,000 after acquiring an additional 287,060 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of NN by 7.2% in the 2nd quarter. Renaissance Technologies LLC now owns 127,000 shares of the industrial products company’s stock valued at $381,000 after acquiring an additional 8,500 shares during the period. Hedge funds and other institutional investors own 53.92% of the company’s stock.

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.