Insider Buying: Nine Energy Service, Inc. (NYSE:NINE) Major Shareholder Acquires $1,232,435.68 in Stock

Nine Energy Service, Inc. (NYSE:NINE) major shareholder William Monroe acquired 765,488 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were bought at an average cost of $1.61 per share, with a total value of $1,232,435.68. Following the purchase, the insider now owns 3,000,000 shares in the company, valued at $4,830,000. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, June 17th, William Monroe bought 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 shares were bought at an average cost of $1.46 per share, for a total transaction of $222,852.94.

Nine Energy Service Stock Up 4.1 %

NINE stock opened at $1.79 on Friday. The company has a market cap of $63.23 million, a price-to-earnings ratio of -1.77 and a beta of 3.36. The business has a fifty day simple moving average of $1.83 and a 200-day simple moving average of $2.19. Nine Energy Service, Inc. has a 52 week low of $1.37 and a 52 week high of $5.59.

Nine Energy Service (NYSE:NINE) last announced its quarterly earnings results on Monday, May 6th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.08. The firm had revenue of $142.12 million for the quarter, compared to analyst estimates of $141.90 million. As a group, analysts expect that Nine Energy Service, Inc. will post -1.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Quadrature Capital Ltd acquired a new stake in shares of Nine Energy Service in the fourth quarter worth $62,000. Barclays PLC acquired a new stake in Nine Energy Service in the 3rd quarter valued at $126,000. Virtu Financial LLC raised its position 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 purchasing an additional 45,611 shares during the period. Jaffetilchin Investment Partners LLC lifted its stake in shares of Nine Energy Service by 86.8% during the first quarter. Jaffetilchin Investment Partners LLC now owns 59,767 shares of the company’s stock worth $134,000 after purchasing an additional 27,767 shares in the last quarter. Finally, Citigroup Inc. purchased a new stake in shares of Nine Energy Service in the third quarter worth about $164,000. 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.