Nelnet, Inc. (NYSE:NNI) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 13,657.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,943 shares of the credit services provider's stock after purchasing an additional 34,689 shares during the period. GAMMA Investing LLC owned about 0.10% of Nelnet worth $3,876,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC boosted its holdings in shares of Nelnet by 16,773.6% in the fourth quarter. Proficio Capital Partners LLC now owns 482,247 shares of the credit services provider's stock valued at $482,000 after acquiring an additional 479,389 shares during the period. Vanguard Group Inc. raised its holdings in shares of Nelnet by 8.0% in the fourth 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. Sycale Advisors NY LLC boosted its stake in shares of Nelnet by 26.7% during the fourth quarter. Sycale Advisors NY LLC now owns 258,038 shares of the credit services provider's stock worth $27,561,000 after buying an additional 54,380 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Nelnet by 30.7% during the fourth quarter. JPMorgan Chase & Co. now owns 172,480 shares of the credit services provider's stock worth $18,423,000 after buying an additional 40,476 shares during the last quarter. Finally, Western Standard LLC acquired a new position in Nelnet in the 4th quarter valued at about $2,614,000. 33.51% of the stock is owned by institutional investors and hedge funds.

Nelnet Stock Performance

Shares of NNI stock traded down $0.69 during mid-day trading on Thursday, hitting $115.18. The stock had a trading volume of 50,606 shares, compared to its average volume of 59,642. Nelnet, Inc. has a fifty-two week low of $97.13 and a fifty-two week 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 company's 50-day simple moving average is $110.80 and its 200-day simple moving average is $110.49. The firm has a market cap of $4.18 billion, a PE ratio of 37.89 and a beta of 0.95.

Nelnet (NYSE:NNI - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The credit services provider reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.92 by $0.47. The company had revenue of $398.49 million for the quarter, compared to analyst estimates of $393.00 million. Nelnet had a return on equity of 3.78% and a net margin of 5.54%. Sell-side analysts anticipate that Nelnet, Inc. will post 4.52 earnings per share for the current year.

Nelnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Monday, June 2nd. Nelnet's dividend payout ratio is presently 21.17%.

Nelnet declared that its board has authorized a share buyback program on Thursday, May 8th that authorizes the company to buyback 5,000,000 outstanding shares. This buyback authorization authorizes the credit services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

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

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.