Insider Buying: Nine Energy Service, Inc. (NYSE:NINE) Major Shareholder Acquires 260,000 Shares of Stock

Nine Energy Service, Inc. (NYSE:NINE) major shareholder William Monroe bought 260,000 shares of Nine Energy Service stock in a transaction dated Thursday, November 21st. The stock was acquired at an average price of $1.24 per share, for a total transaction of $322,400.00. Following the completion of the acquisition, the insider now owns 4,860,000 shares in the company, valued at approximately $6,026,400. The trade was a 5.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more 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 Tuesday, November 19th, William Monroe purchased 435,000 shares of Nine Energy Service stock. The stock was bought at an average price of $1.19 per share, with a total value of $517,650.00.

Nine Energy Service Stock Performance

NINE stock traded up $0.19 during midday trading on Friday, reaching $1.45. 2,004,018 shares of the company traded hands, compared to its average volume of 673,095. The firm has a market capitalization of $61.43 million, a price-to-earnings ratio of -1.21 and a beta of 3.31. The business has a 50 day moving average of $1.14 and a 200-day moving average of $1.43. Nine Energy Service, Inc. has a 52-week low of $0.75 and a 52-week high of $3.26.

Institutional Trading of Nine Energy Service

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jaffetilchin Investment Partners LLC raised 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 worth $191,000 after purchasing an additional 53,657 shares during the period. Virtu Financial LLC grew its stake in shares of Nine Energy Service by 352.9% during the first quarter. Virtu Financial LLC now owns 58,535 shares of the company’s stock valued at $131,000 after buying an additional 45,611 shares during the last quarter. 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 bought a new stake in shares of Nine Energy Service during the 2nd quarter worth approximately $32,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Nine Energy Service during the 2nd quarter valued at $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.