Corre Partners Management LLC Takes Position in NN, Inc. $NNBR

Corre Partners Management LLC purchased a new position in shares of NN, Inc. (NASDAQ:NNBRFree Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,238,637 shares of the industrial products company’s stock, valued at approximately $4,446,707. NN makes up approximately 0.0% of Corre Partners Management LLC’s holdings, making the stock its 4th biggest holding. Corre Partners Management LLC owned approximately 2.35% of NN as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of NNBR. Two Sigma Investments LP acquired a new stake in NN during the 3rd quarter valued at $27,000. Hudson Bay Capital Management LP acquired a new position in NN during the 2nd quarter worth approximately $29,000. Virtu Financial LLC purchased a new stake in NN during the fourth quarter worth about $30,000. Quinn Opportunity Partners LLC bought a new stake in NN during the fourth quarter valued at $32,000. Finally, Addison Advisors LLC bought a new position in shares of NN during the second quarter valued at about $39,000. Hedge funds and other institutional investors own 53.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NNBR shares. Craig Hallum assumed coverage on NN in a report on Monday, July 20th. They issued a “buy” rating and a $7.00 target price on the stock. Wall Street Zen lowered shares of NN from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Zacks Research raised shares of NN from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of NN in a research note on Friday, July 17th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $7.00 target price on shares of NN in a research note on Friday, August 7th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.67.

Check Out Our Latest Research Report on NN

NN Price Performance

NNBR stock traded down $0.14 during midday trading on Friday, reaching $3.43. The company had a trading volume of 1,038,916 shares, compared to its average volume of 1,857,191. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.79 and a quick ratio of 1.08. The company has a market capitalization of $283.25 million, a P/E ratio of -3.57 and a beta of 2.57. The firm has a 50-day moving average price of $3.47 and a 200-day moving average price of $2.55. NN, Inc. has a 1 year low of $1.10 and a 1 year high of $4.48.

NN (NASDAQ:NNBRGet Free Report) last released its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $128.74 million during the quarter, compared to analyst estimates of $116.09 million. NN had a positive return on equity of 20.38% and a negative net margin of 6.21%. On average, research analysts anticipate that NN, Inc. will post 0.13 earnings per share for the current fiscal year.

NN Company Profile

(Free Report)

NN, Inc (NASDAQ: NNBR) is a diversified industrial manufacturing company specializing in engineered metal components, powder metal parts and friction materials. Through its subsidiaries, the company develops and produces precision-rolled products for powertrain and chassis applications, engineered friction products for brake and transmission systems, and various metal powders used in automotive, industrial and energy markets. Its offerings span a wide range of component sizes and complexity, from thin‐gauge strips for hybrid and electric vehicle applications to high‐volume sintered parts for commercial and consumer products.

The company’s operations are organized into three business segments.

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Institutional Ownership by Quarter for NN (NASDAQ:NNBR)

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