William Monroe Acquires 765,488 Shares of Nine Energy Service, Inc. (NYSE:NINE) Stock

Nine Energy Service, Inc. (NYSE:NINE) major shareholder William Monroe acquired 765,488 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were purchased at an average price of $1.61 per share, with a total value of $1,232,435.68. Following the completion of the purchase, the insider now owns 3,000,000 shares in the company, valued at approximately $4,830,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, June 17th, William Monroe purchased 25,000 shares of Nine Energy Service stock. The stock was bought at an average price of $1.47 per share, with a total value of $36,750.00.
• On Thursday, June 13th, William Monroe purchased 152,639 shares of Nine Energy Service stock. The stock was bought at an average price of $1.46 per share, with a total value of $222,852.94.

Nine Energy Service Price Performance

NINE stock opened at $1.72 on Thursday. The business has a 50 day simple moving average of $1.85 and a 200-day simple moving average of $2.20. The firm has a market capitalization of $60.77 million, a PE ratio of -1.70 and a beta of 3.36. Nine Energy Service, Inc. has a 1 year low of $1.37 and a 1 year high of $5.59.

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

Institutional Investors Weigh In On Nine Energy Service

A number of large investors have recently made changes to their positions in NINE. Quadrature Capital Ltd acquired a new position in Nine Energy Service in the fourth quarter valued at approximately $62,000. Barclays PLC acquired a new position in Nine Energy Service in the third quarter valued at approximately $126,000. Virtu Financial LLC lifted its holdings in Nine Energy Service by 352.9% in the first quarter. Virtu Financial LLC now owns 58,535 shares of the company’s stock valued at $131,000 after acquiring an additional 45,611 shares during the last quarter. Jaffetilchin Investment Partners LLC lifted its holdings in Nine Energy Service by 86.8% in the first quarter. Jaffetilchin Investment Partners LLC now owns 59,767 shares of the company’s stock valued at $134,000 after acquiring an additional 27,767 shares during the last quarter. Finally, Citigroup Inc. acquired a new position in Nine Energy Service in the third quarter valued at approximately $164,000. 57.61% of the stock is currently owned by hedge funds and other 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.