Nelnet (NYSE:NNI) Trading Down 3.1%

Nelnet, Inc. (NYSE:NNI) shares traded down 3.1% on Thursday . The stock traded as low as $91.71 and last traded at $91.71. 450 shares were traded during trading, a decline of 99% from the average session volume of 52,766 shares. The stock had previously closed at $94.67.

Separately, Credit Suisse Group downgraded Nelnet from an “outperform” rating to a “neutral” rating and set a $96.00 price target on the stock. in a research report on Thursday.

The firm has a 50-day simple moving average of $92.72 and a two-hundred day simple moving average of $83.44. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 7.19 and a beta of 0.64. The company has a current ratio of 61.31, a quick ratio of 61.31 and a debt-to-equity ratio of 6.51.

Nelnet (NYSE:NNI) last posted its earnings results on Monday, November 8th. The credit services provider reported $1.23 EPS for the quarter, missing the Zacks’ consensus estimate of $1.68 by ($0.45). Nelnet had a net margin of 30.22% and a return on equity of 16.89%. The business had revenue of $286.66 million for the quarter.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 1st were given a dividend of $0.24 per share. The ex-dividend date was Tuesday, November 30th. This is a boost from Nelnet’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.04%. Nelnet’s dividend payout ratio (DPR) is 7.48%.

In other news, insider William J. Munn sold 500 shares of the firm’s stock in a transaction dated Monday, January 10th. The stock was sold at an average price of $96.44, for a total transaction of $48,220.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider William J. Munn sold 5,000 shares of the firm’s stock in a transaction dated Thursday, December 16th. The shares were sold at an average price of $98.08, for a total value of $490,400.00. The disclosure for this sale can be found here. 44.97% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Caxton Associates LP purchased a new position in Nelnet in the 2nd quarter valued at about $448,000. Tudor Investment Corp Et Al purchased a new position in Nelnet in the 2nd quarter valued at about $706,000. Farmers & Merchants Investments Inc. lifted its stake in Nelnet by 1.0% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 1,564,766 shares of the credit services provider’s stock valued at $123,992,000 after buying an additional 14,800 shares in the last quarter. Susquehanna International Group LLP lifted its stake in Nelnet by 63.7% in the 2nd quarter. Susquehanna International Group LLP now owns 17,440 shares of the credit services provider’s stock valued at $1,312,000 after buying an additional 6,784 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in Nelnet by 3.8% in the 2nd quarter. LPL Financial LLC now owns 3,523 shares of the credit services provider’s stock valued at $265,000 after buying an additional 130 shares in the last quarter. 39.29% of the stock is currently owned by hedge funds and other institutional investors.

Nelnet Company Profile (NYSE:NNI)

Nelnet, Inc engages in the provision of education-related products and services, as well as loan asset management. It operates through the business following segments: Loan Systems & Servicing, Education Technology, Services and Payment Processing, Communications, and Asset Generation and Management.

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