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

Legion Partners Asset Management LLC raised its position in NN, Inc. (NASDAQ:NNBR) by 11.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,791,929 shares of the industrial products company’s stock after acquiring an additional 510,000 shares during the period. NN makes up 4.4% of Legion Partners Asset Management LLC’s investment portfolio, making the stock its 9th largest holding. Legion Partners Asset Management LLC owned 0.10% of NN worth $14,376,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of NN during the 1st quarter worth $53,000. Fifth Lane Capital LP purchased a new position in shares of NN in the first quarter valued at $53,000. The Manufacturers Life Insurance Company acquired a new position in shares of NN during the 2nd quarter worth $61,000. Cannon Global Investment Management LLC purchased a new stake in shares of NN in the 1st quarter worth about $85,000. Finally, Rhumbline Advisers grew its stake in NN by 3,510.9% in the 2nd quarter. Rhumbline Advisers now owns 53,983 shares of the industrial products company’s stock valued at $162,000 after acquiring an additional 52,488 shares during the last quarter. Hedge funds and other institutional investors own 53.92% of the company’s stock.

NN Stock Performance

Shares of NNBR opened at $3.76 on Friday. NN, Inc. has a 12-month low of $1.63 and a 12-month high of $5.40. The stock has a market cap of $188.19 million, a P/E ratio of -2.69 and a beta of 2.94. The company has a current ratio of 2.04, a quick ratio of 1.29 and a debt-to-equity ratio of 1.39. The company has a 50-day moving average of $3.67 and a two-hundred day moving average of $3.67.

NN (NASDAQ:NNBR) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. The firm had revenue of $122.99 million during the quarter, compared to the consensus estimate of $123.59 million. NN had a negative return on equity of 7.70% and a negative net margin of 8.38%. During the same period in the previous year, the firm posted ($0.08) EPS. As a group, research analysts predict that NN, Inc. will post -0.16 EPS for the current fiscal year.

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.