Navient (NASDAQ:NAVI) Shares Gap Down to $16.60

Navient Co. (NASDAQ:NAVI)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $16.60, but opened at $15.34. Navient shares last traded at $15.80, with a volume of 358,991 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NAVI shares. JPMorgan Chase & Co. raised shares of Navient from an “underweight” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $17.00 in a report on Wednesday, April 3rd. Stephens downgraded shares of Navient from an “equal weight” rating to an “underweight” rating and set a $16.00 price objective for the company. in a report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Navient in a report on Wednesday, January 10th. They set a “hold” rating and a $19.00 price objective for the company. TD Cowen downgraded shares of Navient from a “market perform” rating to an “underperform” rating and cut their price target for the company from $17.00 to $15.00 in a report on Monday, January 8th. Finally, Citigroup lifted their price target on shares of Navient from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.67.

Navient Stock Down 2.7 %

The company has a debt-to-equity ratio of 19.35, a quick ratio of 13.63 and a current ratio of 13.64. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 8.97 and a beta of 1.38. The firm’s 50-day simple moving average is $16.57 and its two-hundred day simple moving average is $17.12.

Navient (NASDAQ:NAVI) last posted its quarterly earnings data on Wednesday, January 31st. The credit services provider reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.07). The company had revenue of $193.00 million during the quarter, compared to analyst estimates of $210.76 million. Navient had a net margin of 4.72% and a return on equity of 14.17%. On average, sell-side analysts expect that Navient Co. will post 2.12 EPS for the current fiscal year.

Navient Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend was Thursday, February 29th. Navient’s payout ratio is presently 35.96%.

Insider Buying and Selling at Navient

In other news, EVP Mark L. Heleen sold 10,000 shares of Navient stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $17.20, for a total transaction of $172,000.00. Following the completion of the sale, the executive vice president now owns 385,577 shares in the company, valued at approximately $6,631,924.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 27.99% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Impact Partnership Wealth LLC boosted its holdings in Navient by 277.8% during the third quarter. Impact Partnership Wealth LLC now owns 1,511 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 1,111 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Navient during the first quarter worth $36,000. CWM LLC boosted its holdings in Navient by 314.6% during the third quarter. CWM LLC now owns 2,193 shares of the credit services provider’s stock worth $38,000 after purchasing an additional 1,664 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Navient by 13.1% during the third quarter. PNC Financial Services Group Inc. now owns 5,236 shares of the credit services provider’s stock worth $90,000 after purchasing an additional 607 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in Navient by 367.7% during the third quarter. Exchange Traded Concepts LLC now owns 6,795 shares of the credit services provider’s stock worth $117,000 after purchasing an additional 5,342 shares during the last quarter. Institutional investors own 97.14% of the company’s stock.

Navient Company Profile

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.