JPMorgan Chase & Co. lowered its holdings in NII Holdings Inc (NASDAQ:NIHD) by 0.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,630,456 shares of the Wireless communications provider’s stock after selling 17,894 shares during the quarter. JPMorgan Chase & Co. owned about 3.61% of NII worth $7,660,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. 683 Capital Management LLC grew its stake in NII by 107.9% during the 4th quarter. 683 Capital Management LLC now owns 12,671,154 shares of the Wireless communications provider’s stock worth $5,376,000 after buying an additional 6,575,726 shares during the last quarter. Virtu Financial LLC purchased a new position in NII during the 4th quarter worth approximately $139,000. Nomura Asset Management Co. Ltd. grew its stake in NII by 1,007.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 497,046 shares of the Wireless communications provider’s stock worth $211,000 after buying an additional 452,177 shares during the last quarter. Cowen Inc. purchased a new position in NII during the 4th quarter worth approximately $113,000. Finally, Spark Investment Management LLC purchased a new position in NII during the 1st quarter worth approximately $117,000. Institutional investors and hedge funds own 63.48% of the company’s stock.
NII opened at $3.39 on Wednesday, Marketbeat.com reports. The company has a debt-to-equity ratio of -5.63, a current ratio of 1.47 and a quick ratio of 1.45. NII Holdings Inc has a 52-week low of $0.22 and a 52-week high of $3.75.
NII (NASDAQ:NIHD) last announced its quarterly earnings results on Tuesday, May 8th. The Wireless communications provider reported ($0.43) earnings per share (EPS) for the quarter. NII had a negative net margin of 31.46% and a negative return on equity of 433.00%. The business had revenue of $181.00 million during the quarter.
NIHD has been the topic of a number of research reports. ValuEngine upgraded NII from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 1st. BidaskClub upgraded NII from a “hold” rating to a “buy” rating in a research note on Saturday, April 14th.
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, international voice and data roaming, and application-based radio connection services.
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