Insider Buying: Nuverra Environmental Solutions Inc (NES) Major Shareholder Acquires 377,800 Shares of Stock

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Nuverra Environmental Solutions Inc (NYSEAMERICAN:NES) major shareholder Gates Capital Management, L.P. purchased 377,800 shares of the firm’s stock in a transaction on Thursday, October 11th. The shares were acquired at an average price of $9.92 per share, for a total transaction of $3,747,776.00. The acquisition was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

NES opened at $11.70 on Friday. Nuverra Environmental Solutions Inc has a fifty-two week low of $8.80 and a fifty-two week high of $26.50.

Nuverra Environmental Solutions (NYSEAMERICAN:NES) last posted its quarterly earnings results on Monday, August 6th. The company reported ($0.78) earnings per share for the quarter. The business had revenue of $48.95 million for the quarter.

Several hedge funds and other institutional investors have recently modified their holdings of NES. Millennium Management LLC bought a new position in shares of Nuverra Environmental Solutions during the first quarter valued at $2,020,000. BlackRock Inc. bought a new position in shares of Nuverra Environmental Solutions during the second quarter valued at $811,000. Shepherd Kaplan Krochuk LLC lifted its holdings in shares of Nuverra Environmental Solutions by 196.3% during the second quarter. Shepherd Kaplan Krochuk LLC now owns 40,000 shares of the company’s stock valued at $480,000 after acquiring an additional 26,500 shares during the period. Finally, Northern Trust Corp bought a new position in shares of Nuverra Environmental Solutions during the second quarter valued at $122,000.

Nuverra Environmental Solutions Company Profile

Nuverra Environmental Solutions, Inc provides full-cycle environmental solutions to customers focused on the development and ongoing production of oil and natural gas from shale formations in the United States. The company offers environmental solutions and wellsite logistics management, including the delivery, collection, treatment, and disposal of solid and liquid materials used in the development of unconventional oil and natural gas fields in the Bakken and Eagle Ford Shale areas, as well as the Haynesville, Marcellus, and Utica areas.

Further Reading: Calculate Your Return on Investment (ROI)

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