Mackay Shields LLC Sells 17,398,436 Shares of Forum Energy Technologies, Inc. (NYSE:FET)

Mackay Shields LLC trimmed its holdings in shares of Forum Energy Technologies, Inc. (NYSE:FET - Free Report) by 95.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 911,294 shares of the oil and gas company's stock after selling 17,398,436 shares during the period. Mackay Shields LLC owned about 7.42% of Forum Energy Technologies worth $14,116,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its position in Forum Energy Technologies by 4.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,858 shares of the oil and gas company's stock worth $4,141,000 after acquiring an additional 12,449 shares during the last quarter. Crossingbridge Advisors LLC purchased a new stake in shares of Forum Energy Technologies during the third quarter valued at approximately $3,721,000. Icon Wealth Advisors LLC grew its holdings in shares of Forum Energy Technologies by 44.4% in the third quarter. Icon Wealth Advisors LLC now owns 91,758 shares of the oil and gas company's stock worth $1,419,000 after purchasing an additional 28,225 shares during the last quarter. SCF Partners Inc. purchased a new position in shares of Forum Energy Technologies in the third quarter worth $12,843,000. Finally, State Street Corp raised its holdings in Forum Energy Technologies by 6.9% during the 3rd quarter. State Street Corp now owns 198,479 shares of the oil and gas company's stock valued at $3,068,000 after buying an additional 12,785 shares during the last quarter. Hedge funds and other institutional investors own 65.60% of the company's stock.

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Insider Transactions at Forum Energy Technologies

In other news, Director Louis Raspino sold 4,950 shares of the firm's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $15.41, for a total value of $76,279.50. Following the completion of the sale, the director now directly owns 16,121 shares of the company's stock, valued at approximately $248,424.61. This trade represents a 23.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 6.20% of the company's stock.

Forum Energy Technologies Trading Up 0.5 %

Forum Energy Technologies stock traded up $0.10 during trading hours on Wednesday, reaching $18.39. The stock had a trading volume of 43,660 shares, compared to its average volume of 67,664. The company has a fifty day simple moving average of $17.38 and a 200-day simple moving average of $16.26. Forum Energy Technologies, Inc. has a 52 week low of $12.83 and a 52 week high of $20.85. The stock has a market cap of $225.90 million, a PE ratio of -1.67 and a beta of 2.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 0.87.

Forum Energy Technologies (NYSE:FET - Get Free Report) last posted its earnings results on Thursday, February 20th. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.58). The business had revenue of $201.00 million during the quarter, compared to the consensus estimate of $201.85 million. Forum Energy Technologies had a negative return on equity of 2.39% and a negative net margin of 16.57%.

Forum Energy Technologies Profile

Forum Energy Technologies, Inc designs, manufactures, and distributes products serving the oil, natural gas, industrial, and renewable energy industries in the United States and internationally. It operates through three segments: Drilling & Downhole, Completions, and Production. The Drilling & Downhole segment designs, manufactures, and supplies products, and provides related services to the drilling, well construction, artificial lift, and subsea energy construction and services markets, including applications in oil and natural gas, renewable energy, defense, and communications.