Cannon Global Investment Management LLC Makes New $85,000 Investment in NN, Inc. (NASDAQ:NNBR)

Cannon Global Investment Management LLC acquired a new position in shares of NN, Inc. (NASDAQ:NNBR) in the 1st quarter, HoldingsChannel reports. The firm acquired 18,000 shares of the industrial products company’s stock, valued at approximately $85,000.

Other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. purchased a new stake in NN during the 4th quarter worth approximately $140,000. J.W. Cole Advisors Inc. increased its stake in NN by 80.9% during the 4th quarter. J.W. Cole Advisors Inc. now owns 90,100 shares of the industrial products company’s stock worth $360,000 after buying an additional 40,290 shares in the last quarter. Register Financial Advisors LLC grew its position in shares of NN by 26.6% in the fourth quarter. Register Financial Advisors LLC now owns 862,976 shares of the industrial products company’s stock valued at $3,452,000 after purchasing an additional 181,258 shares in the last quarter. Finally, Legion Partners Asset Management LLC grew its position in shares of NN by 3.1% in the third quarter. Legion Partners Asset Management LLC now owns 4,333,141 shares of the industrial products company’s stock valued at $8,060,000 after purchasing an additional 130,000 shares in the last quarter. 53.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NN

In related news, Director Raynard D. Benvenuti sold 236,104 shares of NN stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $3.14, for a total value of $741,366.56. Following the completion of the transaction, the director now directly owns 29,880 shares in the company, valued at $93,823.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.85% of the stock is currently owned by company insiders.

NN Trading Down 1.3 %

Shares of NNBR traded down $0.04 during midday trading on Friday, hitting $3.00. 6,094,552 shares of the stock were exchanged, compared to its average volume of 178,460. NN, Inc. has a 52-week low of $1.63 and a 52-week high of $5.40. The stock has a fifty day simple moving average of $3.30 and a 200 day simple moving average of $3.99. The firm has a market cap of $150.03 million, a P/E ratio of -2.14 and a beta of 3.02. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.27 and a current ratio of 2.04.

NN (NASDAQ:NNBR) last released its earnings results on Monday, May 6th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $121.20 million during the quarter, compared to analysts’ expectations of $121.77 million. NN had a negative net margin of 10.86% and a negative return on equity of 8.92%. On average, research analysts anticipate that NN, Inc. will post -0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Noble Financial assumed coverage on NN in a research report on Monday, April 15th. They issued an “outperform” rating and a $6.00 price target for the company. StockNews.com upgraded NN from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th.

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.