Navient (NAVI) Lowered to “Strong Sell” at BidaskClub

Navient (NASDAQ:NAVI) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday.

NAVI has been the topic of several other research reports. Zacks Investment Research downgraded shares of Navient from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. ValuEngine downgraded shares of Navient from a “hold” rating to a “sell” rating in a report on Saturday, October 27th. Citigroup lowered their price target on shares of Navient from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, October 25th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Navient in a report on Thursday, October 25th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $15.79.

NASDAQ:NAVI traded down $0.16 during trading hours on Thursday, hitting $11.86. 2,021,986 shares of the stock traded hands, compared to its average volume of 1,984,940. Navient has a 1 year low of $11.30 and a 1 year high of $15.02.

Navient (NASDAQ:NAVI) last issued its quarterly earnings results on Tuesday, October 23rd. The credit services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.04. The firm had revenue of $327.00 million for the quarter, compared to analysts’ expectations of $310.17 million. During the same period in the prior year, the firm earned $0.55 EPS. Navient’s revenue for the quarter was down 5.2% compared to the same quarter last year.

Several hedge funds have recently added to or reduced their stakes in NAVI. Sei Investments Co. lifted its holdings in shares of Navient by 37.9% in the first quarter. Sei Investments Co. now owns 19,543 shares of the credit services provider’s stock worth $256,000 after buying an additional 5,375 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Navient by 18.4% in the first quarter. The Manufacturers Life Insurance Company now owns 362,132 shares of the credit services provider’s stock worth $4,752,000 after buying an additional 56,168 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Navient by 15.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 27,208 shares of the credit services provider’s stock worth $357,000 after buying an additional 3,740 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Navient by 2.4% in the first quarter. Royal Bank of Canada now owns 785,584 shares of the credit services provider’s stock worth $10,307,000 after buying an additional 18,754 shares in the last quarter. Finally, Xact Kapitalforvaltning AB lifted its holdings in shares of Navient by 39.0% in the first quarter. Xact Kapitalforvaltning AB now owns 39,900 shares of the credit services provider’s stock worth $523,000 after buying an additional 11,200 shares in the last quarter. 92.07% of the stock is currently owned by hedge funds and other institutional investors.

Navient Company Profile

Navient Corporation provides asset management and business processing services to education, health care, and government clients at the federal, state, and local levels in the United States. The company operates in three segments: Federal Family Education Loan Program (FFELP) Loans, Private Education Loans, and Business Services.

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Analyst Recommendations for Navient (NASDAQ:NAVI)

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