Denali Advisors LLC Sells 5,112 Shares of Nelnet, Inc. $NNI

Key Points

• Denali Advisors LLC has reduced its holdings in Nelnet, Inc. (NYSE:NNI) by 10.3%, selling 5,112 shares to end the quarter with 44,422 shares valued at approximately $5,380,000.
• Insider trading reports indicate that both Director Thomas Edward Henning and major shareholder Shelby J. Butterfield sold significant portions of their shares, with recent transactions totaling over $6 million.
• Nelnet recently increased its quarterly dividend from $0.28 to $0.30 per share, representing a 0.9% yield, while the company's stock currently trades close to $130.

Denali Advisors LLC reduced its holdings in Nelnet, Inc. (NYSE:NNI - Free Report) by 10.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,422 shares of the credit services provider's stock after selling 5,112 shares during the quarter. Denali Advisors LLC owned about 0.12% of Nelnet worth $5,380,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NNI. Ameritas Advisory Services LLC bought a new stake in Nelnet in the second quarter worth approximately $29,000. KBC Group NV bought a new stake in Nelnet in the first quarter worth approximately $32,000. Financial Management Professionals Inc. bought a new stake in Nelnet in the second quarter worth approximately $32,000. Maseco LLP bought a new stake in Nelnet in the second quarter worth approximately $45,000. Finally, Russell Investments Group Ltd. increased its holdings in Nelnet by 576.5% in the first quarter. Russell Investments Group Ltd. now owns 460 shares of the credit services provider's stock worth $51,000 after purchasing an additional 392 shares in the last quarter. 33.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Nelnet

In other news, Director Thomas Edward Henning sold 5,094 shares of the company's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $128.87, for a total transaction of $656,463.78. Following the transaction, the director owned 11,058 shares of the company's stock, valued at $1,425,044.46. This represents a 31.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Shelby J. Butterfield sold 41,929 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $119.25, for a total value of $5,000,033.25. Following the transaction, the insider directly owned 510 shares in the company, valued at $60,817.50. This represents a 98.80% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 50,125 shares of company stock worth $6,056,252. Insiders own 50.90% of the company's stock.

Nelnet Stock Down 0.9%

Shares of NYSE:NNI opened at $129.96 on Wednesday. The business's 50 day moving average is $127.54 and its 200 day moving average is $119.65. The company has a quick ratio of 29.41, a current ratio of 29.42 and a debt-to-equity ratio of 2.27. Nelnet, Inc. has a 12-month low of $98.15 and a 12-month high of $136.17. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 14.39 and a beta of 0.84.

Nelnet (NYSE:NNI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The credit services provider reported $5.05 earnings per share for the quarter, topping the consensus estimate of $1.91 by $3.14. Nelnet had a return on equity of 10.09% and a net margin of 14.86%.The business had revenue of $540.61 million for the quarter, compared to analysts' expectations of $376.40 million. On average, sell-side analysts forecast that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

Nelnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a $0.30 dividend. This is an increase from Nelnet's previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 2nd. Nelnet's payout ratio is presently 13.29%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NNI. Weiss Ratings reissued a "hold (c+)" rating on shares of Nelnet in a research note on Wednesday, October 8th. Wall Street Zen raised Nelnet from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of "Hold".

About Nelnet

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.

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