Nelnet (NYSE:NNI) Sees Strong Trading Volume – What’s Next?

by · The Markets Daily

Nelnet, Inc. (NYSE:NNI – Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 67,155 shares were traded during trading, a decline of 6% from the previous session’s volume of 71,814 shares.The stock last traded at $127.4910 and had previously closed at $126.40.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NNI. Weiss Ratings restated a “hold (c+)” rating on shares of Nelnet in a report on Wednesday, October 8th. TD Cowen raised their price target on shares of Nelnet from $130.00 to $135.00 and gave the stock a “hold” rating in a report on Monday, November 10th. Finally, Wall Street Zen cut shares of Nelnet from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Nelnet currently has an average rating of “Hold” and a consensus target price of $135.00.

Get Our Latest Stock Analysis on Nelnet

Nelnet Trading Up 0.3%

The company has a debt-to-equity ratio of 2.27, a quick ratio of 29.41 and a current ratio of 29.42. The firm has a market capitalization of $4.68 billion, a PE ratio of 14.42 and a beta of 0.85. The stock’s 50-day simple moving average is $128.71 and its 200-day simple moving average is $124.00.

Nelnet (NYSE:NNI – Get Free Report) last announced its earnings results on Thursday, November 6th. The credit services provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $1.43. Nelnet had a net margin of 14.86% and a return on equity of 10.09%. The firm had revenue of $427.76 million for the quarter, compared to analyst estimates of $372.00 million. As a group, sell-side analysts expect that Nelnet, Inc. will post 4.52 EPS for the current fiscal year.

Nelnet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.33 per share. This is a positive change from Nelnet’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, December 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.0%. Nelnet’s dividend payout ratio (DPR) is currently 11.09%.

Insider Activity

In other news, Director Thomas Edward Henning sold 5,094 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $128.87, for a total value of $656,463.78. Following the completion of the transaction, the director owned 11,058 shares in the company, valued at $1,425,044.46. This trade represents a 31.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 50.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its holdings in Nelnet by 6.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,353 shares of the credit services provider’s stock worth $164,000 after purchasing an additional 83 shares during the period. Captrust Financial Advisors boosted its position in shares of Nelnet by 0.6% in the 3rd quarter. Captrust Financial Advisors now owns 16,336 shares of the credit services provider’s stock worth $2,048,000 after purchasing an additional 94 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Nelnet by 14.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 772 shares of the credit services provider’s stock worth $94,000 after buying an additional 98 shares during the last quarter. Concurrent Investment Advisors LLC increased its position in Nelnet by 5.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 2,050 shares of the credit services provider’s stock valued at $257,000 after buying an additional 99 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in Nelnet by 0.6% during the third quarter. Alliancebernstein L.P. now owns 19,158 shares of the credit services provider’s stock valued at $2,402,000 after buying an additional 121 shares during the last quarter. 33.51% of the stock is owned by hedge funds and other institutional investors.

About Nelnet

(Get Free Report)

Nelnet, Inc engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing services.

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