Key Points
- Insider sale: Michael Wayne Jr. Domino sold 6,249 shares on Feb. 17 at an average price of $3.96 for $24,746, leaving him with 1,426,805 shares (a 0.44% reduction in his stake, valued at about $5.65M).
- This sale follows several recent disposals — including 24,996 shares on Jan. 21 at $4.00 and smaller sales on Jan. 15 and Dec. 15 — signaling an ongoing reduction in his holdings.
- Market context: DTI shares were trading around $4.05 (up ~1.5%), market cap roughly $142.6M, and analysts’ consensus averages to a "Reduce" rating after recent downgrades and mixed broker views.
Drilling Tools International Corp. (NASDAQ:DTI - Get Free Report) insider Michael Wayne Jr. Domino sold 6,249 shares of Drilling Tools International stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $3.96, for a total transaction of $24,746.04. Following the completion of the sale, the insider owned 1,426,805 shares of the company's stock, valued at $5,650,147.80. This trade represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Michael Wayne Jr. Domino also recently made the following trade(s):
- On Wednesday, January 21st, Michael Wayne Jr. Domino sold 24,996 shares of Drilling Tools International stock. The stock was sold at an average price of $4.00, for a total transaction of $99,984.00.
- On Thursday, January 15th, Michael Wayne Jr. Domino sold 2,083 shares of Drilling Tools International stock. The stock was sold at an average price of $3.36, for a total transaction of $6,998.88.
- On Monday, December 15th, Michael Wayne Jr. Domino sold 2,083 shares of Drilling Tools International stock. The shares were sold at an average price of $2.65, for a total transaction of $5,519.95.
Drilling Tools International Trading Up 1.5%
Shares of NASDAQ:DTI opened at $4.05 on Wednesday. The stock has a market capitalization of $142.56 million, a PE ratio of -21.32, a P/E/G ratio of 2.96 and a beta of -0.35. Drilling Tools International Corp. has a 1 year low of $1.43 and a 1 year high of $4.38. The firm has a fifty day moving average price of $3.24 and a 200 day moving average price of $2.57. The company has a current ratio of 2.04, a quick ratio of 1.47 and a debt-to-equity ratio of 0.37.
Hedge Funds Weigh In On Drilling Tools International
A number of hedge funds and other institutional investors have recently made changes to their positions in DTI. Y Intercept Hong Kong Ltd bought a new stake in Drilling Tools International in the second quarter valued at about $139,000. Global Retirement Partners LLC bought a new stake in shares of Drilling Tools International in the 2nd quarter valued at approximately $221,000. Qube Research & Technologies Ltd acquired a new position in shares of Drilling Tools International in the 2nd quarter worth approximately $49,000. Bridgeway Capital Management LLC lifted its position in shares of Drilling Tools International by 187.0% during the 2nd quarter. Bridgeway Capital Management LLC now owns 71,741 shares of the company's stock worth $204,000 after buying an additional 46,741 shares during the period. Finally, Gendell Jeffrey L boosted its stake in Drilling Tools International by 20.9% in the 2nd quarter. Gendell Jeffrey L now owns 1,414,027 shares of the company's stock valued at $4,030,000 after buying an additional 244,157 shares in the last quarter. 2.79% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages recently weighed in on DTI. Zacks Research downgraded Drilling Tools International from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 6th. Weiss Ratings reiterated a "sell (d)" rating on shares of Drilling Tools International in a report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Drilling Tools International to a "hold" rating in a research report on Saturday, January 17th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Drilling Tools International currently has an average rating of "Reduce".
Check Out Our Latest Research Report on DTI
About Drilling Tools International
(
Get Free Report)
Drilling Tools International Corporation provides oilfield equipment and services to oil and natural gas sectors in North America, Europe, and the Middle East. It offers downhole tool rentals, machining, and inspection services to support the global drilling and wellbore construction industry. The company also provides products are bottom hole assembly components, such as stabilizers, subs, non-magnetic and steel drill collars, hole openers, and roller reamers, as well as drill pipe and drill pipe accessories; ancillary equipment and handling tools to support its rental platform, including float valves, ring gauges, tool baskets, lift bail, lift subs, mud magnets, elevators, bracket and bail assemblies, slips, tongs, stabbing guides and safety clamps; and blowout preventers, and pressure control accessory equipment.
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