Nelnet (NYSE:NNI) Sees Strong Trading Volume – What’s Next?
by Sarita Garza · The Markets DailyNelnet, Inc. (NYSE:NNI – Get Free Report) saw strong trading volume on Monday . Approximately 105,015 shares were traded during mid-day trading, a decline of 18% from the previous session’s volume of 127,752 shares.The stock last traded at $129.6640 and had previously closed at $129.45.
Wall Street Analyst Weigh In
Several research firms have recently commented on NNI. Zacks Research upgraded Nelnet from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. TD Cowen reissued a “hold” rating on shares of Nelnet in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.00.
Get Our Latest Report on Nelnet
Nelnet Price Performance
The stock has a fifty day moving average of $130.32 and a two-hundred day moving average of $130.81. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 11.09 and a beta of 0.81. The company has a quick ratio of 28.27, a current ratio of 28.27 and a debt-to-equity ratio of 2.18.
Nelnet (NYSE:NNI – Get Free Report) last issued its earnings results 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). Nelnet had a return on equity of 12.43% and a net margin of 18.99%.The company had revenue of $392.76 million for the quarter, compared to analysts’ expectations of $382.00 million. On average, equities research analysts anticipate that Nelnet, Inc. will post 4.52 earnings per share for the current year.
Nelnet Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.32 dividend on an annualized basis and a yield of 1.0%. Nelnet’s payout ratio is currently 11.21%.
Institutional Investors Weigh In On Nelnet
A number of hedge funds and other institutional investors have recently modified their holdings of NNI. AQR Capital Management LLC grew its holdings in shares of Nelnet by 20.9% in the 1st quarter. AQR Capital Management LLC now owns 8,575 shares of the credit services provider’s stock worth $951,000 after acquiring an additional 1,485 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Nelnet by 2.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,694 shares of the credit services provider’s stock worth $1,297,000 after purchasing an additional 299 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Nelnet by 1,246.0% during the first quarter. Jones Financial Companies Lllp now owns 3,365 shares of the credit services provider’s stock worth $373,000 after purchasing an additional 3,115 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Nelnet by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 58,415 shares of the credit services provider’s stock valued at $6,480,000 after purchasing an additional 3,923 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Nelnet by 583.3% in the first quarter. Jane Street Group LLC now owns 16,023 shares of the credit services provider’s stock valued at $1,777,000 after buying an additional 13,678 shares in the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.
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.