Nelnet (NYSE:NNI) Sees Large Volume Increase – What’s Next?
by Doug Wharley · The Cerbat GemNelnet, Inc. (NYSE:NNI – Get Free Report) saw an uptick in trading volume on Wednesday . 74,567 shares traded hands during trading, a decline of 41% from the previous session’s volume of 127,024 shares.The stock last traded at $134.8950 and had previously closed at $135.29.
Analyst Ratings Changes
Several research firms recently weighed in on NNI. TD Cowen reiterated a “hold” rating on shares of Nelnet in a research report on Thursday, January 8th. Zacks Research upgraded Nelnet from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.00.
Check Out Our Latest Analysis on NNI
Nelnet Stock Up 0.3%
The company has a 50-day moving average price of $130.48 and a 200 day moving average price of $131.10. The firm has a market capitalization of $4.87 billion, a PE ratio of 11.54 and a beta of 0.81. The company has a debt-to-equity ratio of 2.18, a current ratio of 28.27 and a quick ratio of 28.27.
Nelnet (NYSE:NNI – Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The credit services provider reported $1.56 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.07). The business had revenue of $392.76 million during the quarter, compared to analysts’ expectations of $382.00 million. Nelnet had a net margin of 18.99% and a return on equity of 12.43%. Analysts forecast that Nelnet, Inc. will post 4.52 earnings per share for the current year.
Nelnet Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, February 27th. Nelnet’s payout ratio is currently 11.21%.
Institutional Investors Weigh In On Nelnet
A number of hedge funds have recently made changes to their positions in NNI. Rossby Financial LCC purchased a new stake in shares of Nelnet in the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Nelnet in the fourth quarter worth about $31,000. Osaic Holdings Inc. lifted its position in shares of Nelnet by 170.3% in the second quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider’s stock worth $45,000 after buying an additional 235 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Nelnet by 189.8% in the third quarter. Smartleaf Asset Management LLC now owns 368 shares of the credit services provider’s stock worth $46,000 after buying an additional 241 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Nelnet in the fourth quarter worth about $59,000. 33.51% of the stock is currently owned by hedge funds and other 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.