Nine Energy Service, Inc. (NYSE:NINE) Major Shareholder William Monroe Acquires 25,000 Shares

Nine Energy Service, Inc. (NYSE:NINE) major shareholder William Monroe acquired 25,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were bought at an average cost of $1.47 per share, with a total value of $36,750.00. Following the transaction, the insider now directly owns 3,429,638 shares of the company’s stock, valued at approximately $5,041,567.86. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

William Monroe also recently made the following trade(s):

• On Thursday, June 13th, William Monroe purchased 152,639 shares of Nine Energy Service stock. The stock was purchased at an average cost of $1.46 per share, with a total value of $222,852.94.
• On Thursday, June 6th, William Monroe acquired 765,488 shares of Nine Energy Service stock. The shares were purchased at an average cost of $1.61 per share, for a total transaction of $1,232,435.68.

Nine Energy Service Stock Up 4.1 %

Shares of NINE stock opened at $1.79 on Friday. Nine Energy Service, Inc. has a one year low of $1.37 and a one year high of $5.59. The stock has a fifty day moving average price of $1.83 and a 200 day moving average price of $2.19.

Nine Energy Service (NYSE:NINE) last posted its earnings results on Monday, May 6th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.08. The business had revenue of $142.12 million during the quarter, compared to the consensus estimate of $141.90 million. On average, research analysts forecast that Nine Energy Service, Inc. will post -1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Nine Energy Service

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrature Capital Ltd bought a new stake in Nine Energy Service in the fourth quarter valued at $62,000. Barclays PLC acquired a new stake in shares of Nine Energy Service in the 3rd quarter valued at $126,000. Citigroup Inc. bought a new stake in shares of Nine Energy Service in the 3rd quarter worth about $164,000. Kestra Advisory Services LLC increased its position in shares of Nine Energy Service by 23.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 44,635 shares of the company’s stock worth $184,000 after purchasing an additional 8,576 shares in the last quarter. Finally, Virtu Financial LLC lifted its holdings in Nine Energy Service by 352.9% during the 1st quarter. Virtu Financial LLC now owns 58,535 shares of the company’s stock valued at $131,000 after purchasing an additional 45,611 shares during the last quarter. Institutional investors own 57.61% of the company’s stock.

About Nine Energy Service

Nine Energy Service, Inc operates as an onshore completion services provider that targets unconventional oil and gas resource development in North American basins and internationally. It offers cementing services, including blending high-grade cement and water with various solid and liquid additives to create a cement slurry that is pumped between the casing and the wellbore of the well.