Hedge Funds Are Betting On NII Holdings, Inc. (NIHD)

With a general bullishness amongst the heavyweights, some big names were leading the bulls’ herd. The funds with new positions in the stock are Whitebox Advisors, Fortress Investment Group, and Scoggin.

Let’s now review hedge fund activity in other stocks similar to NII Holdings, Inc. (NASDAQ:NIHD). We will take a look at Iconix Brand Group Inc (NASDAQ:ICON), Ambac Financial Group, Inc. (NASDAQ:AMBC), Fabrinet (NYSE:FN), and WL Ross Holding Corp (NASDAQ:WLRH). This group of stocks’ market values matches NII Holdings, Inc. (NASDAQ:NIHD)’s market value.

As you can see, these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $148 million. That figure was $84 million in NII Holdings, Inc. (NASDAQ:NIHD)’s case. Ambac Financial Group, Inc. (NASDAQ:AMBC) is the most popular stock in this table. On the other hand, Iconix Brand Group Inc (NASDAQ:ICON) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks, NII Holdings, Inc. (NASDAQ:NIHD) is even less popular than Iconix Brand Group Inc (NASDAQ:ICON). Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case, more research is warranted.