Nelnet, Inc. (NYSE:NNI) Lowered to “Neutral” at Compass Point
Nelnet, Inc. (NYSE:NNI) was downgraded by Compass Point from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, The Fly reports.
Separately, BidaskClub upgraded Nelnet from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th.
Shares of Nelnet (NNI) opened at 48.20 on Wednesday. The company has a 50 day moving average price of $47.57 and a 200 day moving average price of $45.77. Nelnet has a one year low of $33.91 and a one year high of $55.01. The company has a market cap of $2.03 billion, a P/E ratio of 7.91 and a beta of 0.97.
Nelnet (NYSE:NNI) last released its quarterly earnings data on Monday, August 7th. The credit services provider reported $1.08 earnings per share for the quarter, meeting the consensus estimate of $1.08. Nelnet had a return on equity of 9.74% and a net margin of 20.19%. The company had revenue of $161.70 million for the quarter, compared to analyst estimates of $182.02 million. During the same period in the prior year, the company posted $1.13 EPS. Equities research analysts expect that Nelnet will post $4.53 earnings per share for the current year.
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In other news, major shareholder Angie Muhleisen sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $47.57, for a total value of $95,140.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 45.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its stake in Nelnet by 2.0% in the first quarter. Victory Capital Management Inc. now owns 2,640 shares of the credit services provider’s stock valued at $116,000 after buying an additional 53 shares in the last quarter. Creative Planning raised its stake in Nelnet by 1.5% in the first quarter. Creative Planning now owns 3,046 shares of the credit services provider’s stock valued at $134,000 after buying an additional 46 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Nelnet by 168.3% in the second quarter. BNP Paribas Arbitrage SA now owns 4,304 shares of the credit services provider’s stock valued at $202,000 after buying an additional 2,700 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Nelnet during the second quarter valued at $214,000. Finally, TFS Capital LLC bought a new stake in Nelnet during the first quarter valued at $277,000. Institutional investors own 40.97% of the company’s stock.
Nelnet, Inc focuses on delivering education-related products and services and student loan asset management. The Company is engaged in student loan servicing, tuition payment processing and school information systems, and communications. The Company’s segments include Loan Systems and Servicing, Tuition Payment Processing and Campus Commerce, Communications, Asset Generation and Management, and Corporate and Other Activities.
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