Nelnet, Inc. $NNI Shares Purchased by First Trust Advisors LP

First Trust Advisors LP grew its position in shares of Nelnet, Inc. (NYSE:NNI) by 41.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,300 shares of the credit services provider’s stock after acquiring an additional 7,118 shares during the quarter. First Trust Advisors LP owned about 0.07% of Nelnet worth $3,134,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bragg Financial Advisors Inc grew its holdings in shares of Nelnet by 3.2% during the 4th quarter. Bragg Financial Advisors Inc now owns 212,618 shares of the credit services provider’s stock worth $28,270,000 after purchasing an additional 6,620 shares during the period. UBS Group AG increased its position in Nelnet by 66.4% during the 3rd quarter. UBS Group AG now owns 191,826 shares of the credit services provider’s stock worth $24,051,000 after purchasing an additional 76,534 shares in the last quarter. Sycale Advisors NY LLC raised its holdings in Nelnet by 3.4% in the fourth quarter. Sycale Advisors NY LLC now owns 152,441 shares of the credit services provider’s stock valued at $20,269,000 after buying an additional 5,080 shares during the period. Qube Research & Technologies Ltd lifted its position in Nelnet by 3.2% during the third quarter. Qube Research & Technologies Ltd now owns 99,917 shares of the credit services provider’s stock valued at $12,528,000 after buying an additional 3,077 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Nelnet by 8.3% during the first quarter. Bank of New York Mellon Corp now owns 81,435 shares of the credit services provider’s stock valued at $10,502,000 after buying an additional 6,266 shares in the last quarter. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

Nelnet Price Performance

NNI stock opened at $134.84 on Friday. The company has a debt-to-equity ratio of 2.14, a quick ratio of 24.07 and a current ratio of 24.07. Nelnet, Inc. has a 1 year low of $116.62 and a 1 year high of $144.38. The firm has a market cap of $4.85 billion, a P/E ratio of 11.75 and a beta of 0.78. The stock has a 50-day simple moving average of $132.41 and a 200-day simple moving average of $131.89.

Nelnet (NYSE:NNI) last announced its earnings results on Thursday, August 6th. The credit services provider reported $1.77 EPS for the quarter, missing the consensus estimate of $2.13 by ($0.36). The company had revenue of $410.01 million for the quarter, compared to analysts’ expectations of $419.92 million. Nelnet had a net margin of 18.45% and a return on equity of 11.73%. On average, equities analysts predict that Nelnet, Inc. will post 8.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NNI has been the subject of several research reports. Zacks Research downgraded shares of Nelnet from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Weiss Ratings restated a “buy (b)” rating on shares of Nelnet in a report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $140.00.

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.