Nine Energy Service, Inc. (NYSE:NINE) Major Shareholder William Monroe Purchases 470,362 Shares

Nine Energy Service, Inc. (NYSE:NINE) major shareholder William Monroe bought 470,362 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $1.58 per share, for a total transaction of $743,171.96. Following the purchase, the insider now owns 3,900,000 shares of the company’s stock, valued at approximately $6,162,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 Monday, June 17th, William Monroe acquired 25,000 shares of Nine Energy Service stock. The shares were purchased at an average cost of $1.47 per share, for a total transaction of $36,750.00.
• On Thursday, June 13th, William Monroe acquired 152,639 shares of Nine Energy Service stock. The stock was acquired at an average price of $1.46 per share, with a total value of $222,852.94.
• On Thursday, June 6th, William Monroe bought 765,488 shares of Nine Energy Service stock. The shares were bought at an average cost of $1.61 per share, with a total value of $1,232,435.68.

Nine Energy Service Stock Performance

Shares of Nine Energy Service stock opened at $1.41 on Friday. The business has a 50-day moving average price of $1.65 and a two-hundred day moving average price of $2.02. Nine Energy Service, Inc. has a 1-year low of $1.35 and a 1-year high of $5.30. The company has a market cap of $49.63 million, a P/E ratio of -1.39 and a beta of 3.42.

Institutional Trading of Nine Energy Service

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NINE. CastleKnight Management LP bought a new position in shares of Nine Energy Service in the fourth quarter valued at $657,000. Gendell Jeffrey L raised its holdings in shares of Nine Energy Service by 6.7% in the 4th quarter. Gendell Jeffrey L now owns 3,313,322 shares of the company’s stock worth $8,880,000 after acquiring an additional 209,407 shares during the last quarter. Jaffetilchin Investment Partners LLC lifted its position 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 valued at $191,000 after acquiring an additional 53,657 shares in the last quarter. Virtu Financial LLC boosted its stake 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. Finally, Quadrature Capital Ltd purchased a new stake in shares of Nine Energy Service in the fourth quarter worth approximately $62,000. 57.61% of the stock is owned by institutional investors.

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.