Russell Investments Group Ltd. purchased a new position in Ninetowns Internet Technlgy Grp Co Ltd. (NASDAQ:NINE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 105,082 shares of the company’s stock, valued at approximately $3,480,000.

A number of other institutional investors have also bought and sold shares of NINE. BlackRock Inc. acquired a new position in Ninetowns Internet Technlgy Grp in the first quarter worth approximately $11,298,000. Precocity Capital LP acquired a new position in Ninetowns Internet Technlgy Grp in the first quarter worth approximately $5,844,000. Franklin Resources Inc. purchased a new position in Ninetowns Internet Technlgy Grp during the 1st quarter worth approximately $5,843,000. Neuberger Berman Group LLC purchased a new position in Ninetowns Internet Technlgy Grp during the 1st quarter worth approximately $2,458,000. Finally, Northern Trust Corp purchased a new position in Ninetowns Internet Technlgy Grp during the 1st quarter worth approximately $1,965,000.

Several research firms have weighed in on NINE. Zacks Investment Research cut shares of Ninetowns Internet Technlgy Grp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 5th. Tudor Pickering lowered shares of Ninetowns Internet Technlgy Grp from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. Piper Jaffray Companies set a $40.00 target price on shares of Ninetowns Internet Technlgy Grp and gave the company a “buy” rating in a research note on Friday, August 17th. Raymond James started coverage on shares of Ninetowns Internet Technlgy Grp in a research note on Wednesday, June 13th. They set a “strong-buy” rating for the company. Finally, Credit Suisse Group reduced their price objective on shares of Ninetowns Internet Technlgy Grp from $36.00 to $34.00 and set an “outperform” rating for the company in a research note on Tuesday, August 14th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Ninetowns Internet Technlgy Grp has an average rating of “Buy” and a consensus target price of $31.95.

In other news, insider Edward Bruce Morgan sold 20,500 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $30.14, for a total transaction of $617,870.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

NASDAQ:NINE opened at $31.84 on Wednesday. Ninetowns Internet Technlgy Grp Co Ltd. has a 52-week low of $22.23 and a 52-week high of $39.25.

Ninetowns Internet Technlgy Grp (NASDAQ:NINE) last posted its quarterly earnings data on Monday, August 13th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.17. The company had revenue of $205.49 million for the quarter, compared to the consensus estimate of $190.71 million.

Ninetowns Internet Technlgy Grp Company Profile

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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