Ranger Investment Management L.P. Takes Position in NN, Inc. $NNBR

Ranger Investment Management L.P. bought a new position in NN, Inc. (NASDAQ:NNBR) during the 2nd quarter, Holdings Channel reports. The fund bought 568,235 shares of the industrial products company’s stock, valued at approximately $2,040,000.

A number of other hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in NN during the second quarter valued at approximately $145,000. De Lisle Partners LLP bought a new stake in NN in the 2nd quarter worth approximately $1,895,000. Nierenberg Investment Management Company LLC bought a new stake in NN in the 2nd quarter worth approximately $48,662,000. AssuredPartners Investment Advisors LLC bought a new stake in NN in the 2nd quarter worth approximately $44,000. Finally, Addison Advisors LLC purchased a new stake in shares of NN during the 2nd quarter worth approximately $39,000. 53.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NNBR shares. Craig Hallum began coverage on NN in a research report on Monday, July 20th. They set a “buy” rating and a $7.00 target price for the company. B. Riley Financial cut shares of NN from a “buy” rating to a “neutral” rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of NN from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Lake Street Capital reaffirmed a “buy” rating and set a $7.00 price target on shares of NN in a research note on Friday, August 7th. Finally, Zacks Research upgraded shares of NN from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $5.67.

NN Stock Performance

Shares of NASDAQ NNBR opened at $3.78 on Monday. The business’s 50 day moving average is $3.42 and its two-hundred day moving average is $2.50. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.79 and a quick ratio of 1.08. NN, Inc. has a 1-year low of $1.10 and a 1-year high of $4.48. The stock has a market capitalization of $312.15 million, a P/E ratio of -3.94 and a beta of 2.57.

NN (NASDAQ:NNBR) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $116.09 million. NN had a positive return on equity of 20.38% and a negative net margin of 6.21%. As a group, research analysts expect that NN, Inc. will post 0.13 EPS for the current year.

About NN

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.