NII (NIHD) Posts Quarterly Earnings Results

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NII (NASDAQ:NIHD) released its earnings results on Thursday. The Wireless communications provider reported ($0.50) earnings per share for the quarter, MarketWatch Earnings reports. The firm had revenue of $141.70 million during the quarter.

NIHD stock opened at $7.99 on Friday. NII has a 1-year low of $0.22 and a 1-year high of $8.51.

Several analysts have recently weighed in on NIHD shares. BidaskClub upgraded NII from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. ValuEngine downgraded NII from a “buy” rating to a “hold” rating in a report on Monday, September 17th.

In related news, VP Timothy M. Mulieri sold 37,374 shares of NII stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $5.82, for a total value of $217,516.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.30% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. First Manhattan Co. raised its holdings in shares of NII by 20.0% in the second quarter. First Manhattan Co. now owns 60,000 shares of the Wireless communications provider’s stock valued at $234,000 after acquiring an additional 10,000 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of NII by 9.2% in the third quarter. Bank of New York Mellon Corp now owns 327,861 shares of the Wireless communications provider’s stock valued at $1,921,000 after acquiring an additional 27,640 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in shares of NII in the second quarter valued at about $128,000. Voya Investment Management LLC bought a new stake in shares of NII in the second quarter valued at about $133,000. Finally, MetLife Investment Advisors LLC bought a new stake in shares of NII in the second quarter valued at about $169,000. Hedge funds and other institutional investors own 73.35% of the company’s stock.

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About NII

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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Earnings History for NII (NASDAQ:NIHD)

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