Mackay Shields LLC Decreases Stake in Nine Energy Service, Inc. (NYSE:NINE)

Mackay Shields LLC cut its holdings in Nine Energy Service, Inc. (NYSE:NINE) by 14.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 225,571 shares of the company’s stock after selling 38,879 shares during the period. Mackay Shields LLC’s holdings in Nine Energy Service were worth $605,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of NINE. Clarity Financial LLC boosted its stake in Nine Energy Service by 53.8% in the fourth quarter. Clarity Financial LLC now owns 2,471,249 shares of the company’s stock valued at $6,623,000 after acquiring an additional 864,455 shares during the last quarter. Citigroup Inc. bought a new position in Nine Energy Service during the third quarter valued at $164,000. Cannell Capital LLC purchased a new stake in Nine Energy Service in the third quarter worth $3,235,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of Nine Energy Service in the third quarter valued at $288,000. Finally, Gendell Jeffrey L lifted its position in shares of Nine Energy Service by 15.5% during the 3rd quarter. Gendell Jeffrey L now owns 3,103,915 shares of the company’s stock valued at $12,788,000 after buying an additional 415,645 shares during the last quarter. 57.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Ann G. Fox sold 216,704 shares of Nine Energy Service stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $2.17, for a total value of $470,247.68. Following the completion of the transaction, the insider now directly owns 508,783 shares in the company, valued at $1,104,059.11. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 6.20% of the company’s stock.

Nine Energy Service Stock Down 1.1 %

NINE traded down $0.02 during trading hours on Thursday, hitting $2.28. The stock had a trading volume of 187,582 shares, compared to its average volume of 674,319. The stock has a market cap of $80.36 million, a PE ratio of -2.37 and a beta of 3.41. Nine Energy Service, Inc. has a 1 year low of $1.78 and a 1 year high of $5.59. The company’s fifty day simple moving average is $2.32 and its 200 day simple moving average is $2.56.

Nine Energy Service (NYSE:NINE) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.30) EPS 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. As a group, equities analysts expect that Nine Energy Service, Inc. will post -0.78 EPS for the current year.

Nine Energy Service 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.