Fintel reports that Corre Partners Management has filed a 13D/A form with the SEC disclosing ownership of 5.98MM shares of NN Inc (NNBR). This represents 13.64% of the company.
In their previous filing dated May 25, 2022 they reported 5.36MM shares and 12.21% of the company, an increase in shares of 11.60% and an increase in total ownership of 1.43% (calculated as current – previous percent ownership).
Analyst Price Forecast Suggests 345.63% Upside
As of March 30, 2023, the average one-year price target for NN is $4.59. The forecasts range from a low of $4.04 to a high of $5.25. The average price target represents an increase of 345.63% from its latest reported closing price of $1.03.
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The projected annual revenue for NN is $548MM, an increase of 9.80%. The projected annual non-GAAP EPS is $0.13.
What is the Fund Sentiment?
There are 499 funds or institutions reporting positions in NN. This is a decrease of 10 owner(s) or 1.96% in the last quarter. Average portfolio weight of all funds dedicated to NNBR is 0.26%, a decrease of 20.95%. Total shares owned by institutions decreased in the last three months by 4.20% to 65,427K shares. The put/call ratio of NNBR is 0.31, indicating a bullish outlook.
What are Other Shareholders Doing?
TOK – iShares MSCI Kokusai ETF holds 1K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 1K shares, representing an increase of 11.07%. The firm decreased its portfolio allocation in NNBR by 5.80% over the last quarter.
THBVX – Victory THB US Small Opportunities Fund A holds 27K shares representing 0.06% ownership of the company. No change in the last quarter.
DFSV – Dimensional US Small Cap Value ETF holds 20K shares representing 0.05% ownership of the company. No change in the last quarter.
VBINX – Vanguard Balanced Index Fund Investor Shares holds 11K shares representing 0.02% ownership of the company. No change in the last quarter.
SPILX – Symmetry Panoramic International Equity Fund Class I Shares holds 5K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 6K shares, representing a decrease of 34.45%. The firm decreased its portfolio allocation in NNBR by 25.15% over the last quarter.
NN Background Information
(This description is provided by the company.)
NN, Inc., a diversified industrial company, combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Charlotte, North Carolina, NN has 32 facilities in North America, Europe, South America, and China.
This article originally appeared on Fintel
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