California Public Employees Retirement System acquired a new stake in shares of Ninetowns Internet Technlgy Grp Co Ltd. (NASDAQ:NINE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,880 shares of the company’s stock, valued at approximately $228,000.

Several other institutional investors have also recently modified their holdings of the company. Millennium Management LLC bought a new position in Ninetowns Internet Technlgy Grp in the second quarter worth approximately $2,615,000. Macquarie Group Ltd. acquired a new position in shares of Ninetowns Internet Technlgy Grp during the second quarter worth $162,000. Bank of America Corp DE increased its position in shares of Ninetowns Internet Technlgy Grp by 73.6% during the second quarter. Bank of America Corp DE now owns 25,114 shares of the company’s stock worth $831,000 after purchasing an additional 10,650 shares in the last quarter. Proxima Capital Management LLC acquired a new position in shares of Ninetowns Internet Technlgy Grp during the second quarter worth $224,000. Finally, Precocity Capital LP increased its position in shares of Ninetowns Internet Technlgy Grp by 4.2% during the second quarter. Precocity Capital LP now owns 250,000 shares of the company’s stock worth $8,280,000 after purchasing an additional 10,000 shares in the last quarter.

A number of equities research analysts have recently weighed in on the stock. Raymond James set a $46.00 price objective on shares of Ninetowns Internet Technlgy Grp and gave the company a “buy” rating in a report on Wednesday, November 14th. Bank of America assumed coverage on shares of Ninetowns Internet Technlgy Grp in a report on Wednesday, October 17th. They issued a “buy” rating on the stock. Wells Fargo & Co reaffirmed a “positive” rating and issued a $45.00 price target on shares of Ninetowns Internet Technlgy Grp in a report on Tuesday, October 16th. Zacks Investment Research lowered shares of Ninetowns Internet Technlgy Grp from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 16th. Finally, Citigroup started coverage on shares of Ninetowns Internet Technlgy Grp in a report on Monday, November 19th. They issued a “buy” rating and a $40.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $35.96.

Shares of Ninetowns Internet Technlgy Grp stock traded down $0.16 during mid-day trading on Friday, hitting $25.32. The stock had a trading volume of 192,416 shares, compared to its average volume of 190,128. Ninetowns Internet Technlgy Grp Co Ltd. has a 12-month low of $22.23 and a 12-month high of $40.39.

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

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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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