Dimensional Fund Advisors LP raised its position in shares of NQ Mobile Inc (NYSE:NQ) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 885,336 shares of the software maker’s stock after buying an additional 32,939 shares during the period. Dimensional Fund Advisors LP owned about 0.91% of NQ Mobile worth $3,098,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Penserra Capital Management LLC boosted its position in shares of NQ Mobile by 74.9% during the third quarter. Penserra Capital Management LLC now owns 160,864 shares of the software maker’s stock worth $563,000 after purchasing an additional 68,904 shares in the last quarter. Aperio Group LLC bought a new position in shares of NQ Mobile during the third quarter worth $118,000. State Street Corp boosted its position in shares of NQ Mobile by 2.9% during the second quarter. State Street Corp now owns 241,574 shares of the software maker’s stock worth $822,000 after purchasing an additional 6,890 shares in the last quarter. Finally, Profund Advisors LLC boosted its position in shares of NQ Mobile by 50.0% during the second quarter. Profund Advisors LLC now owns 30,210 shares of the software maker’s stock worth $103,000 after purchasing an additional 10,065 shares in the last quarter. 8.07% of the stock is owned by institutional investors and hedge funds.
Separately, Rosenblatt Securities set a $13.00 price objective on shares of NQ Mobile and gave the stock a “buy” rating in a report on Monday, December 25th.
Shares of NQ Mobile Inc (NYSE:NQ) traded down $0.08 during trading hours on Wednesday, hitting $2.23. 656,819 shares of the company were exchanged, compared to its average volume of 1,610,372. The company has a current ratio of 4.04, a quick ratio of 4.02 and a debt-to-equity ratio of 0.56. NQ Mobile Inc has a fifty-two week low of $1.58 and a fifty-two week high of $4.68. The firm has a market capitalization of $221.82, a price-to-earnings ratio of -0.92 and a beta of 1.22.
NQ Mobile (NYSE:NQ) last issued its quarterly earnings results on Friday, December 15th. The software maker reported $0.16 earnings per share (EPS) for the quarter. The firm had revenue of $12.00 million for the quarter. NQ Mobile had a negative net margin of 173.60% and a negative return on equity of 2.29%.
NQ Mobile announced that its Board of Directors has approved a stock repurchase program on Monday, November 13th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the software maker to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
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NQ Mobile Company Profile
NQ Mobile Inc is a global provider of mobile Internet services. The Company provides a portfolio of offerings, including mobile game publishing platforms, mobile advertising platforms, mobile entertainment applications and platforms, mobile security and productivity applications, as well as other mobile applications.
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