Nelnet, Inc. (NYSE:NNI) Sees Large Increase in Short Interest

Nelnet, Inc. (NYSE:NNI) was the recipient of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 275,834 shares, an increase of 22.3% from the February 12th total of 225,557 shares. Based on an average daily volume of 110,936 shares, the short-interest ratio is presently 2.5 days. Currently, 1.6% of the company’s shares are short sold. Currently, 1.6% of the company’s shares are short sold. Based on an average daily volume of 110,936 shares, the short-interest ratio is presently 2.5 days.

Analyst Ratings Changes

NNI has been the topic of a number of recent analyst reports. TD Cowen reissued a “hold” rating on shares of Nelnet in a research report on Thursday, January 8th. Zacks Research raised Nelnet from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Nelnet currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Hedge Funds Weigh In On Nelnet

Institutional investors have recently bought and sold shares of the business. Rossby Financial LCC bought a new position in Nelnet in the fourth quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Nelnet in the 4th quarter valued at $31,000. Osaic Holdings Inc. raised its position in shares of Nelnet by 170.3% in the 2nd quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider’s stock worth $45,000 after acquiring an additional 235 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Nelnet by 189.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 368 shares of the credit services provider’s stock worth $46,000 after purchasing an additional 241 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Nelnet during the 4th quarter worth $59,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

Nelnet Trading Down 0.4%

Shares of NNI traded down $0.50 during trading hours on Tuesday, reaching $128.03. 205,555 shares of the company traded hands, compared to its average volume of 108,217. The stock’s fifty day moving average price is $132.08 and its 200 day moving average price is $130.59. The company has a current ratio of 28.27, a quick ratio of 28.27 and a debt-to-equity ratio of 2.18. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 10.88 and a beta of 0.82. Nelnet has a 12-month low of $98.15 and a 12-month high of $142.87.

Nelnet (NYSE:NNI) last posted its quarterly earnings results on Thursday, February 26th. The credit services provider reported $1.56 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.07). The company had revenue of $390.43 million during the quarter, compared to analysts’ expectations of $382.00 million. Nelnet had a return on equity of 12.43% and a net margin of 18.99%. Sell-side analysts forecast that Nelnet will post 4.52 earnings per share for the current year.

Nelnet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, February 27th. Nelnet’s payout ratio is currently 11.21%.

About Nelnet

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.