NN, Inc. (NASDAQ:NNBR) Major Shareholder Corre Partners Management, Llc Sells 427,630 Shares of 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 value of $1,654,928.10. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

NN Stock Performance

NN stock traded up $0.05 during mid-day trading on Wednesday, hitting $2.74. 1,019,436 shares of the company’s stock traded hands, compared to its average volume of 3,108,886. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.96 and a quick ratio of 1.18. The firm has a 50 day simple moving average of $3.58 and a two-hundred day simple moving average of $3.64. NN, Inc. has a fifty-two week low of $2.38 and a fifty-two week high of $5.40. The stock has a market cap of $136.85 million, a price-to-earnings ratio of -2.51 and a beta of 2.99.

Institutional Trading of NN

A number of hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in NN in the 3rd quarter valued at about $39,000. Moss Adams Wealth Advisors LLC acquired a new stake in NN during the third quarter worth approximately $43,000. BNP Paribas Financial Markets boosted its holdings in shares of NN by 41.4% during the third 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. Kolinsky Wealth Management LLC acquired a new position in shares of NN in the third quarter valued at approximately $56,000. Finally, SG Americas Securities LLC bought a new position in shares of NN during the third quarter worth approximately $60,000. Institutional investors and hedge funds own 53.92% of the company’s stock.

About NN

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.