77,159 Shares in Drilling Tools International Co. (NASDAQ:DTI) Purchased by Cresset Asset Management LLC

Cresset Asset Management LLC bought a new position in shares of Drilling Tools International Co. (NASDAQ:DTI) during the 4th quarter, Holdings Channel reports. The institutional investor bought 77,159 shares of the company’s stock, valued at approximately $252,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets acquired a new position in shares of Drilling Tools International in the fourth quarter valued at approximately $46,000. Northern Trust Corp grew its position in shares of Drilling Tools International by 6.7% in the fourth quarter. Northern Trust Corp now owns 73,848 shares of the company’s stock valued at $241,000 after purchasing an additional 4,639 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Drilling Tools International in the fourth quarter valued at approximately $43,000. Mariner LLC acquired a new position in shares of Drilling Tools International in the fourth quarter valued at approximately $86,000. Finally, Perritt Capital Management Inc acquired a new position in shares of Drilling Tools International in the fourth quarter valued at approximately $114,000. Institutional investors own 2.79% of the company’s stock.

Drilling Tools International Trading Up 6.3%

Shares of NASDAQ:DTI opened at $2.55 on Friday. The company has a market capitalization of $90.76 million, a P/E ratio of 9.11, a P/E/G ratio of 0.90 and a beta of -0.64. Drilling Tools International Co. has a 1 year low of $1.43 and a 1 year high of $6.36. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.32 and a quick ratio of 0.99. The business’s 50 day simple moving average is $2.25 and its 200 day simple moving average is $2.94.

Drilling Tools International (NASDAQ:DTI) last issued its quarterly earnings results on Tuesday, May 13th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The company had revenue of $42.88 million for the quarter, compared to analyst estimates of $38.53 million. Drilling Tools International had a return on equity of 15.38% and a net margin of 5.46%. On average, research analysts anticipate that Drilling Tools International Co. will post 0.38 EPS for the current fiscal year.

Drilling Tools International announced that its Board of Directors has authorized a share buyback plan on Tuesday, May 13th that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 10.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Drilling Tools International Company Profile

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.