Nelnet, Inc. (NYSE:NNI) Raised to C at TheStreet
Nelnet, Inc. (NYSE:NNI) was upgraded by analysts at TheStreet from a “d+” rating to a “c” rating in a research report issued on Tuesday.
NNI has been the topic of a number of other reports. BidaskClub lowered Nelnet from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Compass Point lowered Nelnet from a “buy” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a report on Wednesday.
Nelnet (NYSE NNI) opened at 46.37 on Tuesday. The company has a 50-day moving average price of $47.76 and a 200 day moving average price of $45.70. Nelnet has a 12 month low of $33.91 and a 12 month high of $55.01. The company has a market capitalization of $1.96 billion, a PE ratio of 7.61 and a beta of 0.97.
Nelnet (NYSE:NNI) last issued its quarterly earnings data on Monday, August 7th. The credit services provider reported $1.08 EPS for the quarter, meeting analysts’ consensus estimates of $1.08. Nelnet had a return on equity of 9.65% and a net margin of 20.19%. The firm 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 firm posted $1.13 EPS. On average, equities research analysts forecast that Nelnet will post $4.53 EPS for the current fiscal year.
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In other news, major shareholder Angie Muhleisen sold 2,000 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $47.57, for a total transaction of $95,140.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 45.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in NNI. 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 during the period. 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 during the period. 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 during the period. Principal Financial Group Inc. bought a new stake in Nelnet during the second quarter valued at about $214,000. Finally, TFS Capital LLC bought a new stake in Nelnet during the first quarter valued at about $277,000. 40.97% of the stock is currently owned by institutional investors.
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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