Nine Energy Service, Inc. (NYSE:NINE) Shares Sold by Mackay Shields LLC

Mackay Shields LLC decreased its holdings in shares of Nine Energy Service, Inc. (NYSE:NINE) by 14.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 225,571 shares of the company’s stock after selling 38,879 shares during the quarter. Mackay Shields LLC owned approximately 0.64% of Nine Energy Service worth $605,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Gendell Jeffrey L increased its holdings in shares of Nine Energy Service by 15.5% in the 3rd quarter. Gendell Jeffrey L now owns 3,103,915 shares of the company’s stock worth $12,788,000 after acquiring an additional 415,645 shares during the period. Clarity Financial LLC raised its holdings in shares of Nine Energy Service by 53.8% during the fourth quarter. Clarity Financial LLC now owns 2,471,249 shares of the company’s stock valued at $6,623,000 after buying an additional 864,455 shares during the last quarter. Cannell Capital LLC acquired a new position in shares of Nine Energy Service during the third quarter worth approximately $3,235,000. Jaffetilchin Investment Partners LLC grew its holdings in Nine Energy Service by 211.1% in the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 114,154 shares of the company’s stock worth $470,000 after buying an additional 77,461 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Nine Energy Service in the 3rd quarter valued at approximately $288,000. Institutional investors own 57.61% of the company’s stock.

Nine Energy Service Stock Down 1.1 %

Nine Energy Service stock traded down $0.02 during trading hours on Thursday, hitting $2.28. 187,582 shares of the company traded hands, compared to its average volume of 674,319. Nine Energy Service, Inc. has a 1-year low of $1.78 and a 1-year high of $5.59. The firm has a market cap of $80.36 million, a P/E ratio of -2.37 and a beta of 3.41. The firm’s 50-day simple moving average is $2.32 and its two-hundred day simple moving average is $2.56.

Nine Energy Service (NYSE:NINE) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. The business had revenue of $144.07 million for the quarter, compared to analysts’ expectations of $142.00 million. On average, equities research analysts predict that Nine Energy Service, Inc. will post -0.78 earnings per share for the current year.

Insiders Place Their Bets

In other Nine Energy Service news, insider Ann G. Fox sold 216,704 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $2.17, for a total value of $470,247.68. Following the transaction, the insider now owns 508,783 shares in the company, valued at $1,104,059.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.20% 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.