Western Standard LLC Makes New $2.61 Million Investment in Nelnet, Inc. (NYSE:NNI)

Western Standard LLC purchased a new stake in shares of Nelnet, Inc. (NYSE:NNI - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 24,471 shares of the credit services provider's stock, valued at approximately $2,614,000. Nelnet comprises approximately 1.7% of Western Standard LLC's holdings, making the stock its 20th biggest position. Western Standard LLC owned approximately 0.07% of Nelnet as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Nelnet by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 1,347,756 shares of the credit services provider's stock valued at $143,954,000 after buying an additional 99,885 shares during the last quarter. Farmers & Merchants Investments Inc. increased its stake in shares of Nelnet by 0.5% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,187,527 shares of the credit services provider's stock worth $126,840,000 after purchasing an additional 5,708 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of Nelnet by 16,773.6% during the 4th quarter. Proficio Capital Partners LLC now owns 482,247 shares of the credit services provider's stock worth $482,000 after purchasing an additional 479,389 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Nelnet by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 361,553 shares of the credit services provider's stock worth $38,627,000 after purchasing an additional 1,060 shares during the last quarter. Finally, Sycale Advisors NY LLC increased its stake in shares of Nelnet by 26.7% during the 4th quarter. Sycale Advisors NY LLC now owns 258,038 shares of the credit services provider's stock worth $27,561,000 after purchasing an additional 54,380 shares during the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Nelnet from a "hold" rating to a "buy" rating in a research note on Tuesday, March 4th.

Nelnet Stock Performance

NNI traded up $0.36 on Friday, hitting $114.35. The company had a trading volume of 88,808 shares, compared to its average volume of 59,036. The company's fifty day moving average price is $109.44 and its 200 day moving average price is $109.94. Nelnet, Inc. has a 1-year low of $97.13 and a 1-year high of $127.32. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of 37.61 and a beta of 0.93.

Nelnet (NYSE:NNI - Get Free Report) last posted its earnings results on Thursday, May 8th. The credit services provider reported $2.39 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.47. Nelnet had a return on equity of 3.78% and a net margin of 5.54%. The firm had revenue of $398.49 million during the quarter, compared to analyst estimates of $393.00 million. Equities analysts predict that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

Nelnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.12 annualized dividend and a yield of 0.98%. Nelnet's dividend payout ratio (DPR) is currently 21.17%.

Nelnet announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 8th that allows the company to repurchase 5,000,000 outstanding shares. This repurchase authorization allows the credit services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Nelnet Company Profile

Nelnet, Inc engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing services.