Gabelli Funds LLC boosted its position in NII Holdings Inc (NASDAQ:NIHD) by 1,309.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 916,214 shares of the Wireless communications provider’s stock after buying an additional 851,214 shares during the quarter. Gabelli Funds LLC owned approximately 0.90% of NII worth $1,796,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. Weiss Asset Management LP raised its position in NII by 7,836.4% in the 2nd quarter. Weiss Asset Management LP now owns 1,676,643 shares of the Wireless communications provider’s stock valued at $2,834,000 after buying an additional 1,655,517 shares during the last quarter. Teton Advisors Inc. raised its position in NII by 2.8% in the 2nd quarter. Teton Advisors Inc. now owns 1,100,000 shares of the Wireless communications provider’s stock valued at $1,859,000 after buying an additional 30,000 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in NII in the 3rd quarter valued at approximately $1,520,000. Bluefin Trading LLC raised its position in NII by 201.8% in the 2nd quarter. Bluefin Trading LLC now owns 608,400 shares of the Wireless communications provider’s stock valued at $1,028,000 after buying an additional 406,826 shares during the last quarter. Finally, Highbridge Capital Management LLC raised its position in NII by 166.7% in the 2nd quarter. Highbridge Capital Management LLC now owns 600,000 shares of the Wireless communications provider’s stock valued at $1,014,000 after buying an additional 375,000 shares during the last quarter. 61.14% of the stock is currently owned by institutional investors and hedge funds.
Separately, ValuEngine raised NII from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.
NII stock traded up $0.05 during midday trading on Friday, reaching $1.80. The stock had a trading volume of 1,189,400 shares, compared to its average volume of 1,036,478. The firm’s fifty day simple moving average is $1.90 and its 200-day simple moving average is $1.83. NII Holdings Inc has a 1-year low of $1.54 and a 1-year high of $8.51.
NII (NASDAQ:NIHD) last released its earnings results on Tuesday, November 5th. The Wireless communications provider reported ($0.07) earnings per share for the quarter. NII had a negative net margin of 18.24% and a negative return on equity of 4.92%.
In other news, major shareholder 683 Capital Management, Llc sold 3,000,000 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $1.90, for a total transaction of $5,700,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.33% of the company’s stock.
NII Holdings, Inc, through its subsidiaries, provides wireless communication services to the individual consumers under the Nextel brand in Brazil. The company offers its services through wideband code division multiple access and long-term evolution networks. Its services include mobile telephone voice and wireless data, and international voice and data roaming services.
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