Navient Corp (NASDAQ:NAVI) Short Interest Update

Navient Corp (NASDAQ:NAVI) saw a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 15,493,352 shares, a decline of 14.3% from the November 30th total of 18,076,445 shares. Currently, 6.0% of the shares of the company are sold short. Based on an average daily volume of 5,608,056 shares, the short-interest ratio is presently 2.8 days.

In related news, CFO Christian M. Lown purchased 6,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were acquired at an average price of $12.35 per share, for a total transaction of $74,100.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.68% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Navient by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 9,130,065 shares of the credit services provider’s stock worth $152,017,000 after buying an additional 113,420 shares during the period. Prudential Financial Inc. boosted its stake in Navient by 3.4% during the third quarter. Prudential Financial Inc. now owns 5,888,964 shares of the credit services provider’s stock worth $88,452,000 after acquiring an additional 192,614 shares in the last quarter. LSV Asset Management boosted its stake in Navient by 6.3% during the second quarter. LSV Asset Management now owns 5,429,642 shares of the credit services provider’s stock worth $90,403,000 after acquiring an additional 319,939 shares in the last quarter. Alps Advisors Inc. boosted its stake in Navient by 9.4% during the third quarter. Alps Advisors Inc. now owns 3,353,227 shares of the credit services provider’s stock worth $50,365,000 after acquiring an additional 287,007 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Navient by 75.9% during the second quarter. JPMorgan Chase & Co. now owns 2,443,684 shares of the credit services provider’s stock worth $40,687,000 after acquiring an additional 1,054,580 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

A number of research analysts recently commented on NAVI shares. ValuEngine upgraded shares of Navient from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Citigroup started coverage on shares of Navient in a report on Monday, October 16th. They issued a “buy” rating and a $20.00 price objective for the company. Zacks Investment Research raised shares of Navient from a “sell” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Friday. Jefferies Group reissued a “hold” rating and issued a $16.00 price objective on shares of Navient in a report on Monday, October 16th. Finally, Oppenheimer assumed coverage on shares of Navient in a report on Monday, January 8th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $17.36.

Navient (NAVI) opened at $13.88 on Friday. The company has a debt-to-equity ratio of 30.58, a current ratio of 33.10 and a quick ratio of 33.10. Navient has a 12-month low of $11.48 and a 12-month high of $17.05. The stock has a market cap of $3,674.28, a P/E ratio of 7.67, a price-to-earnings-growth ratio of 1.26 and a beta of 2.37.

Navient (NASDAQ:NAVI) last announced its quarterly earnings results on Tuesday, October 17th. The credit services provider reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.05. Navient had a net margin of 10.88% and a return on equity of 14.09%. The firm had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $361.33 million. During the same period in the prior year, the company posted $0.50 EPS. The company’s revenue was down 15.3% on a year-over-year basis. equities research analysts predict that Navient will post 1.76 earnings per share for the current year.

Navient announced that its board has authorized a stock buyback program on Wednesday, October 4th that permits the company to buyback shares. This buyback authorization permits the credit services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend was Thursday, November 30th. Navient’s dividend payout ratio (DPR) is presently 35.36%.

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About Navient

Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).

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