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Dec 02, 2023

Franklin Resources Inc. Cuts Stake in Nine Energy Service, Inc. (NYSE:NINE)

Franklin Resources Inc. decreased its holdings in Nine Energy Service, Inc.

Franklin Resources Inc. decreased its holdings in Nine Energy Service, Inc. (NYSE:NINE - Get Rating) by 67.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 232,358 shares of the company's stock after selling 473,400 shares during the period. Franklin Resources Inc. owned approximately 0.70% of Nine Energy Service worth $3,376,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in NINE. Prudential Financial Inc. purchased a new stake in Nine Energy Service during the 2nd quarter valued at $30,000. SG Americas Securities LLC purchased a new stake in Nine Energy Service during the 4th quarter valued at $176,000. O Shaughnessy Asset Management LLC purchased a new stake in Nine Energy Service during the 4th quarter valued at $183,000. XTX Topco Ltd purchased a new stake in Nine Energy Service during the 1st quarter valued at $67,000. Finally, HRT Financial LP purchased a new stake in Nine Energy Service during the 4th quarter valued at $322,000. Hedge funds and other institutional investors own 52.61% of the company's stock.

In other news, insider David Crombie sold 10,827 shares of the firm's stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $3.48, for a total value of $37,677.96. Following the completion of the sale, the insider now directly owns 252,925 shares of the company's stock, valued at approximately $880,179. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider David Crombie sold 10,827 shares of the firm's stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $3.48, for a total value of $37,677.96. Following the completion of the sale, the insider now directly owns 252,925 shares of the company's stock, valued at approximately $880,179. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO S. Brett Luz sold 8,253 shares of the firm's stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $7.12, for a total transaction of $58,761.36. Following the completion of the sale, the chief accounting officer now directly owns 70,995 shares of the company's stock, valued at $505,484.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 343,262 shares of company stock valued at $1,730,671. Company insiders own 6.20% of the company's stock.

Shares of NINE opened at $3.37 on Friday. The stock has a market capitalization of $117.01 million, a P/E ratio of 7.17 and a beta of 3.33. The firm has a fifty day simple moving average of $4.21 and a two-hundred day simple moving average of $8.44. Nine Energy Service, Inc. has a twelve month low of $2.03 and a twelve month high of $17.10.

Nine Energy Service (NYSE:NINE - Get Rating) last announced its quarterly earnings results on Monday, May 8th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.11). The firm had revenue of $163.41 million for the quarter, compared to analysts' expectations of $162.10 million. Nine Energy Service had a net margin of 2.37% and a negative return on equity of 71.24%. Sell-side analysts expect that Nine Energy Service, Inc. will post -0.06 EPS for the current fiscal year.

Nine Energy Service, Inc is an oilfield services business, which engages in the provision of services integral to the completion of unconventional wells. It offers cementing services, completion tools, wireline services, and coiled tubing services. The company was founded on September 26, 2011 and is headquartered in Houston, TX.

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