Denali Advisors LLC Increases Stock Position in Nelnet, Inc. $NNI

Denali Advisors LLC lifted its holdings in Nelnet, Inc. (NYSE:NNI) by 14.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 44,600 shares of the credit services provider’s stock after purchasing an additional 5,600 shares during the period. Denali Advisors LLC owned about 0.12% of Nelnet worth $5,930,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Osaic Holdings Inc. lifted its position in Nelnet by 170.3% during the second quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider’s stock valued at $45,000 after acquiring an additional 235 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Nelnet by 189.8% during the third quarter. Smartleaf Asset Management LLC now owns 368 shares of the credit services provider’s stock valued at $46,000 after acquiring an additional 241 shares during the last quarter. State of Wyoming purchased a new stake in Nelnet during the second quarter valued at approximately $62,000. EverSource Wealth Advisors LLC lifted its position in Nelnet by 137.3% during the second quarter. EverSource Wealth Advisors LLC now owns 541 shares of the credit services provider’s stock valued at $66,000 after acquiring an additional 313 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Nelnet during the third quarter valued at approximately $86,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Wall Street Analysts Forecast Growth

NNI has been the subject of a number of analyst reports. Weiss Ratings raised shares of Nelnet from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Zacks Research cut shares of Nelnet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Nelnet has a consensus rating of “Hold” and an average target price of $140.00.

Nelnet Trading Down 13.6%

Shares of Nelnet stock opened at $122.07 on Friday. The company has a current ratio of 28.27, a quick ratio of 28.27 and a debt-to-equity ratio of 2.18. Nelnet, Inc. has a 12-month low of $107.45 and a 12-month high of $144.38. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 10.63 and a beta of 0.83. The firm’s 50 day simple moving average is $133.31 and its two-hundred day simple moving average is $132.34.

Nelnet (NYSE:NNI) last issued its quarterly earnings results on Thursday, May 7th. The credit services provider reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.72). Nelnet had a net margin of 18.45% and a return on equity of 11.78%. The company had revenue of $419.06 million for the quarter, compared to analyst estimates of $443.84 million. Analysts predict that Nelnet, Inc. will post 9.2 EPS for the current year.

Nelnet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.33 per share. The ex-dividend date is Monday, June 1st. This represents a $1.32 dividend on an annualized basis and a yield of 1.1%. Nelnet’s dividend payout ratio is presently 11.21%.

Nelnet 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.