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

NN, Inc. (NASDAQ:NNBR - Get Free Report) major shareholder Corre Partners Management, Llc sold 427,630 shares of NN stock in a transaction 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 sale, the insider now directly owns 810,567 shares of the company's stock, valued at approximately $3,136,894.29. This trade represents a 34.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

NN Stock Up 1.9 %

NN stock opened at $2.74 on Thursday. The stock's fifty day moving average is $3.58 and its two-hundred day moving average is $3.64. NN, Inc. has a 1-year low of $2.38 and a 1-year high of $5.40. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.18 and a current ratio of 1.96.

Institutional Investors Weigh In On NN

Several hedge funds and other institutional investors have recently made changes to their positions in NNBR. Legion Partners Asset Management LLC boosted its holdings in NN by 11.9% in the second quarter. Legion Partners Asset Management LLC now owns 4,791,929 shares of the industrial products company's stock valued at $14,376,000 after purchasing an additional 510,000 shares in the last quarter. Paradigm Capital Management Inc. NY acquired a new position in shares of NN in the 2nd quarter valued at $1,032,000. American Century Companies Inc. grew 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 valued at $1,928,000 after buying an additional 287,060 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in NN during the 2nd quarter worth $429,000. Finally, Acadian Asset Management LLC lifted its position in NN by 102.0% in the second 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 last quarter. Institutional investors and hedge funds own 53.92% of the company's stock.

NN Company Profile

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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.

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