Nelnet, Inc. (NNI) Director Michael D. Reardon Sells 5,748 Shares
Nelnet, Inc. (NYSE:NNI) Director Michael D. Reardon sold 5,748 shares of Nelnet stock in a transaction on Monday, November 13th. The stock was sold at an average price of $50.84, for a total value of $292,228.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Nelnet, Inc. (NNI) traded up $0.62 during trading hours on Wednesday, reaching $51.51. The company’s stock had a trading volume of 59,300 shares, compared to its average volume of 83,253. Nelnet, Inc. has a 1 year low of $38.72 and a 1 year high of $59.68. The company has a current ratio of 159.08, a quick ratio of 159.08 and a debt-to-equity ratio of 10.44. The firm has a market capitalization of $2,113.87, a PE ratio of 11.67 and a beta of 1.06.
Nelnet (NYSE:NNI) last posted its earnings results on Tuesday, November 7th. The credit services provider reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.10). Nelnet had a net margin of 17.51% and a return on equity of 8.70%. The business had revenue of $194.43 million during the quarter, compared to analyst estimates of $191.00 million. During the same period in the previous year, the firm posted $1.36 earnings per share. The firm’s revenue was down 18.6% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.24%. This is a boost from Nelnet’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Thursday, November 30th. Nelnet’s payout ratio is presently 10.59%.
NNI has been the subject of a number of analyst reports. Credit Suisse Group lifted their price objective on Nelnet from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, October 20th. Compass Point raised Nelnet from a “neutral” rating to a “buy” rating in a research note on Thursday, October 19th. TheStreet raised Nelnet from a “d+” rating to a “c” rating in a research note on Tuesday, August 8th. Finally, BidaskClub cut Nelnet from a “buy” rating to a “hold” rating in a research note on Monday, July 24th.
Large investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio boosted its position in shares of Nelnet by 6.1% during the second quarter. Public Employees Retirement System of Ohio now owns 2,156 shares of the credit services provider’s stock worth $101,000 after buying an additional 123 shares during the period. Victory Capital Management Inc. boosted its position in shares of Nelnet by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,104 shares of the credit services provider’s stock worth $146,000 after buying an additional 464 shares during the period. SG Americas Securities LLC acquired a new position in shares of Nelnet during the third quarter worth about $174,000. BNP Paribas Arbitrage SA boosted its position in shares of Nelnet by 168.3% during the second quarter. BNP Paribas Arbitrage SA now owns 4,304 shares of the credit services provider’s stock worth $202,000 after buying an additional 2,700 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in shares of Nelnet during the second quarter worth about $214,000. 40.78% of the stock is owned by hedge funds and other institutional investors.
Nelnet Company Profile
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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