Nelnet (NYSE:NNI) Price Target Raised to $140.00
by Amy Steele · The Cerbat GemNelnet (NYSE:NNI – Get Free Report) had its target price hoisted by analysts at TD Cowen from $135.00 to $140.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the credit services provider’s stock. TD Cowen’s price objective indicates a potential downside of 0.61% from the company’s previous close.
Several other analysts have also recently issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nelnet in a research note on Wednesday, October 8th. Cowen reiterated a “hold” rating on shares of Nelnet in a report on Thursday. Finally, Wall Street Zen cut Nelnet from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 15th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $140.00.
Read Our Latest Stock Report on Nelnet
Nelnet Stock Performance
Nelnet stock traded up $5.76 during mid-day trading on Thursday, reaching $140.86. The company’s stock had a trading volume of 67,713 shares, compared to its average volume of 125,353. Nelnet has a 12-month low of $98.15 and a 12-month high of $141.41. The company has a market capitalization of $5.06 billion, a P/E ratio of 11.84 and a beta of 0.83. The company has a debt-to-equity ratio of 2.18, a quick ratio of 28.98 and a current ratio of 28.98. The firm’s fifty day moving average price is $131.62 and its two-hundred day moving average price is $127.81.
Nelnet (NYSE:NNI – Get Free Report) last posted its earnings results on Thursday, November 6th. The credit services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $1.43. The firm had revenue of $427.76 million for the quarter, compared to the consensus estimate of $372.00 million. Nelnet had a return on equity of 12.58% and a net margin of 18.96%. Sell-side analysts predict that Nelnet will post 4.52 EPS for the current fiscal year.
Insider Buying and Selling
In other Nelnet news, Director Deun Jona M. Van sold 400 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $128.95, for a total value of $51,580.00. Following the completion of the transaction, the director owned 704 shares of the company’s stock, valued at approximately $90,780.80. The trade was a 36.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 50.90% of the company’s stock.
Institutional Trading of Nelnet
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Nelnet by 0.3% in the third quarter. Vanguard Group Inc. now owns 1,546,041 shares of the credit services provider’s stock worth $193,843,000 after purchasing an additional 4,819 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Nelnet by 0.4% in the second quarter. Geode Capital Management LLC now owns 383,849 shares of the credit services provider’s stock worth $46,499,000 after acquiring an additional 1,443 shares during the period. UBS Group AG increased its position in Nelnet by 66.4% during the third quarter. UBS Group AG now owns 191,826 shares of the credit services provider’s stock valued at $24,051,000 after acquiring an additional 76,534 shares during the last quarter. JPMorgan Chase & Co. increased its position in Nelnet by 7.5% during the third quarter. JPMorgan Chase & Co. now owns 185,029 shares of the credit services provider’s stock valued at $23,199,000 after acquiring an additional 12,941 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Nelnet by 28.9% in the third quarter. American Century Companies Inc. now owns 184,316 shares of the credit services provider’s stock valued at $23,110,000 after acquiring an additional 41,302 shares during the period. 33.51% of the stock is currently owned by institutional investors.
Nelnet Company Profile
Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.
At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.