Navient Target of Unusually High Options Trading (NAVI)
Navient Corp (NASDAQ:NAVI) saw some unusual options trading activity on Tuesday. Stock traders acquired 3,482 put options on the stock. This represents an increase of approximately 4,543% compared to the average daily volume of 75 put options.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. D.A. Davidson & CO. boosted its holdings in Navient by 10.9% during the second quarter. D.A. Davidson & CO. now owns 42,220 shares of the credit services provider’s stock worth $550,000 after purchasing an additional 4,155 shares during the last quarter. People s United Financial Inc. lifted its stake in Navient by 4.9% in the third quarter. People s United Financial Inc. now owns 100,003 shares of the credit services provider’s stock valued at $1,348,000 after acquiring an additional 4,671 shares during the last quarter. Bank of The West lifted its stake in Navient by 3.2% in the second quarter. Bank of The West now owns 158,566 shares of the credit services provider’s stock valued at $2,066,000 after acquiring an additional 4,972 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Navient by 20.7% in the second quarter. Advisors Asset Management Inc. now owns 30,473 shares of the credit services provider’s stock valued at $397,000 after acquiring an additional 5,233 shares during the last quarter. Finally, Aperio Group LLC lifted its stake in Navient by 1.5% in the second quarter. Aperio Group LLC now owns 353,942 shares of the credit services provider’s stock valued at $4,612,000 after acquiring an additional 5,291 shares during the last quarter. Institutional investors and hedge funds own 94.92% of the company’s stock.
Shares of NAVI opened at $10.73 on Wednesday. Navient has a 12 month low of $10.69 and a 12 month high of $15.02. The firm has a market cap of $3.10 billion, a P/E ratio of 6.49 and a beta of 2.12. The company has a quick ratio of 19.74, a current ratio of 19.74 and a debt-to-equity ratio of 25.59.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 5.96%. The ex-dividend date is Thursday, December 6th. Navient’s payout ratio is 35.75%.
NAVI has been the subject of several research analyst reports. Zacks Investment Research cut shares of Navient from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. ValuEngine upgraded shares of Navient from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. BidaskClub cut shares of Navient from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Oppenheimer restated a “hold” rating on shares of Navient in a report on Thursday, October 25th. Finally, Citigroup reduced their target price on shares of Navient from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, October 25th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $15.55.
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Navient Corporation provides asset management and business processing services to education, health care, and government clients at the federal, state, and local levels in the United States. The company operates in three segments: Federal Family Education Loan Program (FFELP) Loans, Private Education Loans, and Business Services.
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