Insider Buying: Nine Energy Service, Inc. (NYSE:NINE) Major Shareholder Acquires 435,000 Shares of Stock

Nine Energy Service, Inc. (NYSE:NINE) major shareholder William Monroe purchased 435,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were acquired at an average cost of $1.19 per share, for a total transaction of $517,650.00. Following the completion of the acquisition, the insider now owns 4,335,000 shares of the company’s stock, valued at approximately $5,158,650. This represents a 11.15 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Thursday, November 21st, William Monroe purchased 260,000 shares of Nine Energy Service stock. The shares were acquired at an average cost of $1.24 per share, for a total transaction of $322,400.00.

Nine Energy Service Stock Up 15.1 %

Shares of NYSE:NINE opened at $1.45 on Friday. Nine Energy Service, Inc. has a 1 year low of $0.75 and a 1 year high of $3.26. The stock’s fifty day moving average price is $1.15 and its 200-day moving average price is $1.42.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC bought a new position in Nine Energy Service in the second quarter valued at about $31,000. XTX Topco Ltd bought a new position in Nine Energy Service in the second quarter valued at about $32,000. Great Valley Advisor Group Inc. bought a new position in Nine Energy Service in the second quarter valued at about $34,000. 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 period. Finally, Jaffetilchin Investment Partners LLC raised its stake in shares of Nine Energy Service by 86.8% in the first quarter. Jaffetilchin Investment Partners LLC now owns 59,767 shares of the company’s stock worth $134,000 after buying an additional 27,767 shares during the period. Institutional investors own 57.61% of the company’s stock.

Nine Energy Service Company Profile

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.