Nelnet Inc. (NNI) Sees Unusually-High Trading Volume
Nelnet Inc. (NYSE:NNI) shares saw unusually-strong trading volume on Monday . Approximately 93,576 shares changed hands during mid-day trading, an increase of 41% from the previous session’s volume of 66,413 shares.The stock last traded at $34.89 and had previously closed at $34.81.
Separately, Compass Point cut their target price on Nelnet from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, August 8th.
The stock has a 50 day moving average of $37.23 and a 200 day moving average of $37.31. The firm has a market capitalization of $1.49 billion and a P/E ratio of 7.46.
Nelnet (NYSE:NNI) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by $0.15. During the same quarter in the prior year, the company posted $1.38 earnings per share. Analysts predict that Nelnet Inc. will post $4.70 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be paid a $0.12 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.37%.
Several institutional investors have modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of Nelnet by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,846,192 shares of the company’s stock valued at $61,977,000 after buying an additional 45,050 shares during the last quarter. Bank of Montreal Can raised its position in shares of Nelnet by 133.7% in the fourth quarter. Bank of Montreal Can now owns 72,502 shares of the company’s stock valued at $2,434,000 after buying an additional 41,483 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Nelnet by 0.8% in the fourth quarter. Rhumbline Advisers now owns 42,679 shares of the company’s stock valued at $1,433,000 after buying an additional 345 shares during the last quarter.
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