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 stock in a transaction dated Thursday, June 6th. The stock was bought at an average cost of $1.61 per share, with a total value of $1,232,435.68. Following the completion of the purchase, the insider now directly owns 3,000,000 shares in the company, valued at $4,830,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% 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 Monday, June 17th, William Monroe acquired 25,000 shares of Nine Energy Service stock. The stock was bought at an average cost 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 acquired at an average cost of $1.46 per share, with a total value of $222,852.94.

Nine Energy Service Stock Performance

Shares of NINE stock opened at $1.72 on Thursday. Nine Energy Service, Inc. has a 52-week low of $1.37 and a 52-week high of $5.59. The firm has a market capitalization of $60.77 million, a P/E ratio of -1.70 and a beta of 3.36. The stock has a 50 day moving average price of $1.85 and a 200 day moving average price of $2.20.

Nine Energy Service (NYSE:NINE) last issued its quarterly earnings results on Monday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.08. The business had revenue of $142.12 million for the quarter, compared to the consensus estimate of $141.90 million. As a group, sell-side analysts forecast 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 institutional investors and hedge funds have recently modified their holdings of NINE. Gendell Jeffrey L increased its holdings in Nine Energy Service by 6.7% during the 4th quarter. Gendell Jeffrey L now owns 3,313,322 shares of the company’s stock worth $8,880,000 after purchasing an additional 209,407 shares during the period. Clarity Financial LLC increased its holdings in Nine Energy Service by 53.8% during the 4th quarter. Clarity Financial LLC now owns 2,471,249 shares of the company’s stock worth $6,623,000 after purchasing an additional 864,455 shares during the period. Cannell Capital LLC purchased a new position in Nine Energy Service during the 3rd quarter worth $3,235,000. CastleKnight Management LP purchased a new position in Nine Energy Service during the 4th quarter worth $657,000. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Nine Energy Service during the 3rd quarter worth $288,000. 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.