Nine Energy Service, Inc. (NYSE:NINE) Major Shareholder William Monroe Acquires 435,000 Shares

Nine Energy Service, Inc. (NYSE:NINE) major shareholder William Monroe bought 435,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was purchased at an average price of $1.19 per share, with a total value of $517,650.00. Following the completion of the acquisition, the insider now owns 4,335,000 shares of the company’s stock, valued at approximately $5,158,650. This trade represents a 11.15 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, November 21st, William Monroe purchased 260,000 shares of Nine Energy Service stock. The stock was purchased at an average price of $1.24 per share, with a total value of $322,400.00.

Nine Energy Service Stock Performance

NYSE NINE opened at $1.45 on Friday. The firm’s 50 day moving average price is $1.15 and its two-hundred day moving average price is $1.42. Nine Energy Service, Inc. has a twelve month low of $0.75 and a twelve month high of $3.26. The stock has a market cap of $61.42 million, a price-to-earnings ratio of -1.21 and a beta of 3.31.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NINE. Jaffetilchin Investment Partners LLC lifted its stake in Nine Energy Service by 89.8% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 113,424 shares of the company’s stock worth $191,000 after acquiring an additional 53,657 shares in the last quarter. Virtu Financial LLC increased its holdings in shares of Nine Energy Service by 352.9% in 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 period. Great Valley Advisor Group Inc. purchased a new stake in shares of Nine Energy Service in the second quarter worth approximately $34,000. XTX Topco Ltd purchased a new stake in shares of Nine Energy Service in the second quarter worth approximately $32,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Nine Energy Service during the second quarter worth approximately $31,000. Hedge funds and other 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.