NII Holdings Inc (NASDAQ:NIHD)’s share price shot up 6.8% during trading on Tuesday . The stock traded as high as $5.52 and last traded at $5.50. 1,114,516 shares traded hands during trading, a decline of 36% from the average session volume of 1,740,000 shares. The stock had previously closed at $5.15.
Several brokerages recently commented on NIHD. BidaskClub raised shares of NII from a “hold” rating to a “buy” rating in a research note on Friday, June 22nd. ValuEngine cut shares of NII from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th.
The company has a debt-to-equity ratio of -3.67, a quick ratio of 1.41 and a current ratio of 1.42.
In other news, VP Timothy M. Mulieri sold 37,374 shares of the company’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $5.82, for a total value of $217,516.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in NIHD. BlackRock Inc. boosted its stake in shares of NII by 337.3% in the 2nd quarter. BlackRock Inc. now owns 5,693,659 shares of the Wireless communications provider’s stock valued at $22,206,000 after purchasing an additional 4,391,533 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new stake in shares of NII in the 2nd quarter valued at $119,000. Northern Trust Corp raised its holdings in NII by 320.7% during the 2nd quarter. Northern Trust Corp now owns 972,129 shares of the Wireless communications provider’s stock valued at $3,791,000 after buying an additional 741,031 shares during the last quarter. Benefit Street Partners LLC raised its holdings in NII by 19.4% during the 2nd quarter. Benefit Street Partners LLC now owns 4,498,851 shares of the Wireless communications provider’s stock valued at $17,546,000 after buying an additional 731,849 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in NII by 82.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,178,438 shares of the Wireless communications provider’s stock valued at $4,596,000 after buying an additional 531,200 shares during the last quarter. 72.82% of the stock is owned by institutional investors.
NII Company Profile (NASDAQ:NIHD)
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.
See Also: Stop Order
Receive News & Ratings for NII Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NII and related companies with MarketBeat.com's FREE daily email newsletter.