Russell Investments Group Ltd. Purchases 115,612 Shares of Ninetowns Internet Technlgy Grp Co Ltd. (NASDAQ:NINE)

Russell Investments Group Ltd. increased its position in shares of Ninetowns Internet Technlgy Grp Co Ltd. (NASDAQ:NINE) by 110.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 220,694 shares of the company’s stock after acquiring an additional 115,612 shares during the period. Russell Investments Group Ltd. owned about 0.88% of Ninetowns Internet Technlgy Grp worth $6,749,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in shares of Ninetowns Internet Technlgy Grp during the second quarter worth $862,000. Citadel Advisors LLC raised its holdings in shares of Ninetowns Internet Technlgy Grp by 11.8% during the second quarter. Citadel Advisors LLC now owns 46,763 shares of the company’s stock worth $1,549,000 after acquiring an additional 4,930 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Ninetowns Internet Technlgy Grp by 24.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 37,752 shares of the company’s stock worth $1,251,000 after acquiring an additional 7,416 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Ninetowns Internet Technlgy Grp during the first quarter worth $644,000. Finally, Wells Fargo & Company MN purchased a new stake in shares of Ninetowns Internet Technlgy Grp during the first quarter worth $277,000.

NASDAQ NINE opened at $26.40 on Thursday. Ninetowns Internet Technlgy Grp Co Ltd. has a fifty-two week low of $22.23 and a fifty-two week high of $40.39.

Ninetowns Internet Technlgy Grp (NASDAQ:NINE) last posted its earnings results on Tuesday, November 13th. The company reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.01). The business had revenue of $218.43 million during the quarter, compared to the consensus estimate of $215.78 million.

Several brokerages recently issued reports on NINE. Piper Jaffray Companies set a $40.00 price objective on Ninetowns Internet Technlgy Grp and gave the stock a “buy” rating in a report on Friday, August 17th. Credit Suisse Group cut their price objective on Ninetowns Internet Technlgy Grp from $36.00 to $34.00 and set an “outperform” rating for the company in a report on Tuesday, August 14th. Zacks Investment Research upgraded Ninetowns Internet Technlgy Grp from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 15th. Bank of America assumed coverage on Ninetowns Internet Technlgy Grp in a report on Wednesday, October 17th. They set a “buy” rating for the company. Finally, Citigroup assumed coverage on Ninetowns Internet Technlgy Grp in a report on Monday, November 19th. They set a “buy” rating and a $40.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $35.96.

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About Ninetowns Internet Technlgy Grp

Ninetowns Internet Technology Group Company Limited is a software company that enables enterprises and trade-related People’s Republic of China Government agencies to streamline the import/export process in China. It operates in four segments: enterprise software and related maintenance services , software development services segment, B2C e-commerce and, and real estate development.

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Institutional Ownership by Quarter for Ninetowns Internet Technlgy Grp (NASDAQ:NINE)

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