Denali Advisors LLC Sells 12,476 Shares of Nelnet, Inc. (NYSE:NNI)

Denali Advisors LLC trimmed its stake in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 20.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,534 shares of the credit services provider's stock after selling 12,476 shares during the quarter. Denali Advisors LLC owned 0.14% of Nelnet worth $5,495,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NNI. Vanguard Group Inc. raised its stake 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 purchasing an additional 99,885 shares during the period. Sycale Advisors NY LLC raised 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 valued at $27,561,000 after purchasing an additional 54,380 shares during the period. JPMorgan Chase & Co. increased its stake in Nelnet by 30.7% in the 4th quarter. JPMorgan Chase & Co. now owns 172,480 shares of the credit services provider's stock worth $18,423,000 after acquiring an additional 40,476 shares during the last quarter. GAMMA Investing LLC increased its stake in Nelnet by 13,657.1% in the 1st quarter. GAMMA Investing LLC now owns 34,943 shares of the credit services provider's stock worth $3,876,000 after acquiring an additional 34,689 shares during the last quarter. Finally, Western Standard LLC bought a new position in Nelnet in the 4th quarter worth about $2,614,000. 33.51% of the stock is currently owned by institutional investors.

Nelnet Price Performance

NYSE NNI traded down $0.26 during trading on Friday, reaching $119.80. The company's stock had a trading volume of 187,915 shares, compared to its average volume of 59,188. The stock has a market capitalization of $4.35 billion, a PE ratio of 22.65 and a beta of 0.95. The company has a debt-to-equity ratio of 2.57, a current ratio of 34.08 and a quick ratio of 34.08. The firm has a fifty day moving average of $117.79 and a 200 day moving average of $112.64. Nelnet, Inc. has a one year low of $98.15 and a one year high of $127.32.

Nelnet (NYSE:NNI - Get Free Report) last announced its earnings results on Thursday, May 8th. The credit services provider reported $2.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.92 by $0.47. The business had revenue of $398.49 million for the quarter, compared to analyst estimates of $393.00 million. Nelnet had a return on equity of 6.00% and a net margin of 9.44%. Analysts expect that Nelnet, Inc. will post 4.52 EPS for the current fiscal year.

Nelnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.12 annualized dividend and a dividend yield of 0.93%. Nelnet's dividend payout ratio (DPR) is presently 21.17%.

Nelnet declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 8th that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the credit services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its shares are undervalued.

Nelnet 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.