SECOR Capital Advisors LP Buys New Stake in Navient Corporation (NAVI)
SECOR Capital Advisors LP bought a new position in Navient Corporation (NASDAQ:NAVI) during the third quarter, Holdings Channel reports. The institutional investor bought 51,005 shares of the company’s stock, valued at approximately $738,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CIBC World Markets Inc. purchased a new position in Navient Corporation during the second quarter worth approximately $946,000. Old Mutual Global Investors UK Ltd. increased its stake in shares of Navient Corporation by 136.3% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 734,863 shares of the company’s stock valued at $8,781,000 after buying an additional 423,903 shares during the period. Oakbrook Investments LLC increased its stake in shares of Navient Corporation by 12.2% in the second quarter. Oakbrook Investments LLC now owns 23,500 shares of the company’s stock valued at $281,000 after buying an additional 2,550 shares during the period. MSI Financial Services Inc increased its stake in shares of Navient Corporation by 7,378.9% in the second quarter. MSI Financial Services Inc now owns 38,217 shares of the company’s stock valued at $457,000 after buying an additional 37,706 shares during the period. Finally, Alps Advisors Inc. increased its stake in shares of Navient Corporation by 11.3% in the second quarter. Alps Advisors Inc. now owns 2,030,457 shares of the company’s stock valued at $24,264,000 after buying an additional 205,635 shares during the period. 93.14% of the stock is currently owned by institutional investors.
Shares of Navient Corporation (NASDAQ:NAVI) traded up 1.81% during trading on Friday, hitting $16.85. The stock had a trading volume of 2,185,556 shares. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 6.91 and a beta of 2.61. The stock’s 50 day moving average is $16.92 and its 200 day moving average is $14.62. Navient Corporation has a 52 week low of $8.20 and a 52 week high of $17.95.
Navient Corporation (NASDAQ:NAVI) last released its earnings results on Tuesday, October 18th. The company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.02. The firm had revenue of $405 million for the quarter, compared to analysts’ expectations of $391.75 million. Navient Corporation had a net margin of 16.31% and a return on equity of 16.50%. The company’s quarterly revenue was down 12.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 earnings per share. On average, equities research analysts expect that Navient Corporation will post $1.84 earnings per share for the current fiscal year.
Several analysts recently issued reports on the company. Barclays PLC set a $21.00 price target on Navient Corporation and gave the stock a “buy” rating in a report on Sunday, January 8th. DA Davidson assumed coverage on Navient Corporation in a report on Friday, January 6th. They issued a “buy” rating and a $21.00 price target on the stock. Zacks Investment Research raised Navient Corporation from a “sell” rating to a “hold” rating in a report on Thursday, December 22nd. Jefferies Group assumed coverage on Navient Corporation in a report on Wednesday, December 7th. They issued a “hold” rating and a $18.00 price target on the stock. Finally, Credit Suisse Group downgraded Navient Corporation from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $18.50 to $18.00 in a report on Wednesday, January 4th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $17.25.
Navient Corporation Company Profile
Navient Corporation is a loan management, servicing and asset recovery company. The Company holds the portfolio of education loans insured or guaranteed under the Federal Family Education Loan Program (FFELP), as well as the portfolio of Private Education Loans. FFELP Loans are insured or guaranteed by state based on guaranty agreements among the United States Department of Education (ED) and these agencies.
Want to see what other hedge funds are holding NAVI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Navient Corporation (NASDAQ:NAVI).
Receive News & Ratings for Navient Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navient Corporation and related companies with MarketBeat.com's FREE daily email newsletter.