Legion Partners Asset Management LLC Acquires 510,000 Shares of NN, Inc. (NASDAQ:NNBR)

Legion Partners Asset Management LLC boosted its holdings in NN, Inc. (NASDAQ:NNBR) by 11.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,791,929 shares of the industrial products company’s stock after purchasing an additional 510,000 shares during the quarter. NN comprises approximately 4.4% of Legion Partners Asset Management LLC’s portfolio, making the stock its 9th biggest position. Legion Partners Asset Management LLC owned approximately 9.58% of NN worth $14,376,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NNBR. Renaissance Technologies LLC boosted 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 buying an additional 8,500 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of NN during the first quarter worth about $53,000. Fifth Lane Capital LP acquired a new stake in shares of NN during the first quarter worth about $53,000. Empowered Funds LLC lifted its holdings in shares of NN by 8.1% in the 1st quarter. Empowered Funds LLC now owns 158,285 shares of the industrial products company’s stock valued at $750,000 after purchasing an additional 11,900 shares during the last quarter. Finally, Cannon Global Investment Management LLC acquired a new stake in shares of NN in the 1st quarter valued at about $85,000. 53.92% of the stock is currently owned by hedge funds and other institutional investors.

NN Stock Performance

NASDAQ:NNBR opened at $3.76 on Friday. The company has a market capitalization of $188.19 million, a PE ratio of -2.69 and a beta of 2.94. NN, Inc. has a 52-week low of $1.63 and a 52-week high of $5.40. The stock’s 50 day moving average price is $3.67 and its 200 day moving average price is $3.67. The company has a quick ratio of 1.29, a current ratio of 2.04 and a debt-to-equity ratio of 1.39.

NN (NASDAQ:NNBR) last announced its earnings results on Wednesday, August 7th. The industrial products company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. NN had a negative net margin of 8.38% and a negative return on equity of 7.70%. The business had revenue of $122.99 million for the quarter, compared to analysts’ expectations of $123.59 million. During the same period in the previous year, the company posted ($0.08) EPS. On average, research analysts anticipate that NN, Inc. will post -0.16 EPS for the current year.

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.