Pacer Advisors Inc. Invests $2.73 Million in Forum Energy Technologies, Inc. $FET

Key Points

• Pacer Advisors bought 46,476 shares of Forum Energy Technologies, valued at approximately $2.73 million, giving it a 0.41% stake. Institutional investors collectively own 65.60% of the company.
• Two executives sold shares, with SVP Michael Danford selling $166,470 worth and EVP John Ivascu selling $353,150 under a Rule 10b5-1 plan. Company insiders own 7.70% of outstanding shares.
• Forum Energy Technologies beat quarterly earnings expectations, reporting $1.16 in EPS versus the $0.56 consensus and revenue of $226.22 million. Analyst opinions remain mixed, though the overall consensus rating is “Moderate Buy.”

Pacer Advisors Inc. purchased a new stake in shares of Forum Energy Technologies, Inc. (NYSE:FET - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 46,476 shares of the oil and gas company's stock, valued at approximately $2,726,000. Pacer Advisors Inc. owned 0.41% of Forum Energy Technologies at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in Forum Energy Technologies in the fourth quarter worth about $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Forum Energy Technologies during the 4th quarter valued at about $37,000. Tower Research Capital LLC TRC raised its holdings in shares of Forum Energy Technologies by 558.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,088 shares of the oil and gas company's stock valued at $41,000 after purchasing an additional 1,771 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Forum Energy Technologies in the 4th quarter valued at about $75,000. Finally, Osaic Holdings Inc. purchased a new stake in shares of Forum Energy Technologies in the 2nd quarter worth approximately $78,000. 65.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Michael Dewayne Danford sold 3,000 shares of the company's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $55.49, for a total transaction of $166,470.00. Following the transaction, the senior vice president directly owned 54,139 shares of the company's stock, valued at approximately $3,004,173.11. This represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John C. Ivascu sold 5,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $70.63, for a total value of $353,150.00. Following the sale, the executive vice president owned 85,512 shares of the company's stock, valued at approximately $6,039,712.56. This represents a 5.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 7.70% of the company's stock.

Analyst Ratings Changes

FET has been the topic of a number of recent research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Forum Energy Technologies in a research note on Friday, July 17th. Zacks Research raised shares of Forum Energy Technologies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Finally, Wall Street Zen upgraded Forum Energy Technologies from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy".

Forum Energy Technologies Stock Performance

Shares of Forum Energy Technologies stock opened at $74.22 on Friday. The company has a market capitalization of $834.92 million, a PE ratio of -494.73, a P/E/G ratio of 3.07 and a beta of 0.53. The company has a 50-day simple moving average of $53.96 and a two-hundred day simple moving average of $54.73. Forum Energy Technologies, Inc. has a one year low of $19.51 and a one year high of $77.51. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.09 and a current ratio of 2.19.

Forum Energy Technologies (NYSE:FET - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.60. Forum Energy Technologies had a negative net margin of 0.19% and a positive return on equity of 9.45%. The business had revenue of $226.22 million for the quarter, compared to analysts' expectations of $212.35 million. Research analysts expect that Forum Energy Technologies, Inc. will post 3.06 EPS for the current fiscal year.

Forum Energy Technologies Company Profile

Forum Energy Technologies Inc is a global provider of advanced products and services to the oil and gas industry. The company's offerings span the full lifecycle of exploration and production, including drilling, well construction, completion and production, and subsea operations. Key product lines include premium drill bits, downhole drilling motors, directional drilling tools, subsea umbilicals, and pressure control equipment, complemented by field service support and engineered solutions for complex projects.

Established through the merger of Forum Oilfield Technologies, Triton Group, Global Energy Group, and Allen International in 2010, Forum Energy Technologies has built a diversified technology portfolio designed to meet evolving industry requirements.

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