Nelnet (NYSE:NNI) Sees Large Volume Increase – What’s Next?

Shares of Nelnet, Inc. (NYSE:NNI) saw unusually-high trading volume on Tuesday . Approximately 158,929 shares were traded during mid-day trading, an increase of 34% from the previous session’s volume of 118,590 shares.The stock last traded at $128.5550 and had previously closed at $128.76.

Wall Street Analyst Weigh In

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

Nelnet Trading Down 0.9%

The stock’s 50 day simple moving average is $130.86 and its 200 day simple moving average is $130.57. The firm has a market cap of $4.61 billion, a PE ratio of 10.91 and a beta of 0.82. The company has a debt-to-equity ratio of 2.18, a quick ratio of 28.27 and a current ratio of 28.27.

Nelnet (NYSE:NNI) last posted its quarterly earnings data on Thursday, February 26th. The credit services provider reported $1.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.07). The company had revenue of $392.76 million for the quarter, compared to the consensus estimate of $382.00 million. Nelnet had a return on equity of 12.43% and a net margin of 18.99%. On average, sell-side analysts forecast that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

Nelnet Announces Dividend

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

Institutional Trading of Nelnet

Several hedge funds and other institutional investors have recently bought and sold shares of NNI. Rossby Financial LCC purchased a new position in shares of Nelnet during the fourth quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Nelnet in the 4th quarter valued at $31,000. Smartleaf Asset Management LLC grew its holdings 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 valued at $46,000 after purchasing an additional 241 shares during the last quarter. Osaic Holdings Inc. raised its position in 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 purchasing an additional 235 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in Nelnet in the 4th quarter worth $59,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Nelnet Company Profile

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.