Bandera Partners LLC Lowers Holdings in Nelnet, Inc. $NNI

Key Points

• Bandera Partners LLC cut its Nelnet stake by 53.9% in the first quarter, selling 55,230 shares and leaving it with 47,159 shares worth about $6.1 million.
• Other institutional investors were mixed on Nelnet, with firms like AQR Capital Management and Jane Street increasing holdings while hedge funds and institutions still own 33.51% of the company.
• Nelnet’s latest quarterly results missed expectations, reporting $1.94 EPS versus $2.66 expected and revenue of $419.06 million versus $443.84 million; analysts currently have a consensus Hold rating with a $140 target price.

Bandera Partners LLC decreased its holdings in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 53.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,159 shares of the credit services provider's stock after selling 55,230 shares during the quarter. Nelnet comprises 2.8% of Bandera Partners LLC's holdings, making the stock its 13th largest holding. Bandera Partners LLC owned approximately 0.13% of Nelnet worth $6,082,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in Nelnet by 20.9% in the 1st quarter. AQR Capital Management LLC now owns 8,575 shares of the credit services provider's stock valued at $951,000 after buying an additional 1,485 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Nelnet by 2.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,694 shares of the credit services provider's stock worth $1,297,000 after buying an additional 299 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Nelnet by 1,246.0% in the 1st quarter. Jones Financial Companies Lllp now owns 3,365 shares of the credit services provider's stock valued at $373,000 after acquiring an additional 3,115 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Nelnet by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 58,415 shares of the credit services provider's stock worth $6,480,000 after purchasing an additional 3,923 shares during the period. Finally, Jane Street Group LLC increased its holdings in Nelnet by 583.3% in the 1st quarter. Jane Street Group LLC now owns 16,023 shares of the credit services provider's stock valued at $1,777,000 after purchasing an additional 13,678 shares during the last quarter. Hedge funds and other institutional investors own 33.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NNI. Zacks Research lowered Nelnet from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 8th. Weiss Ratings raised Nelnet from a "hold (c)" rating to a "buy (b)" rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $140.00.

Nelnet Stock Down 0.6%

Nelnet stock opened at $131.75 on Friday. The firm has a market capitalization of $4.73 billion, a P/E ratio of 11.48 and a beta of 0.78. The stock's fifty day simple moving average is $130.98 and its 200-day simple moving average is $131.90. Nelnet, Inc. has a twelve month low of $116.62 and a twelve month high of $144.38. The company has a current ratio of 24.07, a quick ratio of 24.07 and a debt-to-equity ratio of 2.14.

Nelnet (NYSE:NNI - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The credit services provider reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.66 by ($0.72). Nelnet had a return on equity of 11.73% and a net margin of 18.45%.The company had revenue of $419.06 million for the quarter, compared to analysts' expectations of $443.84 million. As a group, equities analysts expect that Nelnet, Inc. will post 8.18 earnings per share for the current fiscal year.

Nelnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given 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 Monday, June 1st. Nelnet's payout ratio is 11.50%.

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.

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