Nelnet (NYSE:NNI) Trading Down 2.3%

Nelnet (NYSE:NNI) Trading Down 2.3%

Nelnet, Inc. (NYSE:NNI – Get Free Report)’s share price dropped 2.3% on Monday . The stock traded as low as $106.04 and last traded at $106.64. Approximately 14,298 shares changed hands during trading, a decline of 84% from the average daily volume of 88,810 shares. The stock had previously closed at $109.19.

Analyst Upgrades and Downgrades

Separately, downgraded Nelnet from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th.

Nelnet Trading Down 5.4 %

The firm’s 50 day moving average price is $93.06 and its 200-day moving average price is $88.94. The company has a debt-to-equity ratio of 3.67, a current ratio of 35.15 and a quick ratio of 35.15. The stock has a market cap of $3.82 billion, a P/E ratio of 29.51 and a beta of 0.84.

Nelnet (NYSE:NNI – Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The credit services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.44. The firm had revenue of $579.96 million during the quarter. Nelnet had a net margin of 6.54% and a return on equity of 4.18%. During the same quarter in the prior year, the firm earned $1.47 earnings per share. As a group, equities research analysts forecast that Nelnet, Inc. will post 5.15 earnings per share for the current year.

Nelnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Friday, May 31st. Nelnet’s dividend payout ratio (DPR) is presently 30.27%.

Institutional Trading of Nelnet

Several large investors have recently added to or reduced their stakes in the business. Covestor Ltd grew its holdings in Nelnet by 139.2% during the first quarter. Covestor Ltd now owns 806 shares of the credit services provider’s stock valued at $76,000 after purchasing an additional 469 shares during the period. Vanguard Group Inc. boosted its position in shares of Nelnet by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,313,570 shares of the credit services provider’s stock worth $124,329,000 after purchasing an additional 3,485 shares during the period. ProShare Advisors LLC bought a new stake in shares of Nelnet during the 1st quarter valued at $220,000. Anchor Capital Advisors LLC boosted its holdings in Nelnet by 3.1% in the 1st quarter. Anchor Capital Advisors LLC now owns 12,931 shares of the credit services provider’s stock worth $1,224,000 after buying an additional 383 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Nelnet in the first quarter valued at about $209,000. 33.51% of the stock is currently owned by institutional investors.

About Nelnet 

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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