GAMMA Investing LLC Purchases 34,689 Shares of Nelnet, Inc. (NYSE:NNI)

GAMMA Investing LLC boosted its position in Nelnet, Inc. (NYSE:NNI - Free Report) by 13,657.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,943 shares of the credit services provider's stock after buying an additional 34,689 shares during the quarter. GAMMA Investing LLC owned approximately 0.10% of Nelnet worth $3,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. HighTower Advisors LLC grew its stake in shares of Nelnet by 25.1% during the fourth quarter. HighTower Advisors LLC now owns 76,896 shares of the credit services provider's stock valued at $8,213,000 after buying an additional 15,445 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Nelnet by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 201,969 shares of the credit services provider's stock valued at $21,572,000 after buying an additional 2,778 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in 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 valued at $482,000 after buying an additional 479,389 shares during the last quarter. Edgestream Partners L.P. raised its holdings in Nelnet by 230.1% during the 4th quarter. Edgestream Partners L.P. now owns 24,797 shares of the credit services provider's stock valued at $2,649,000 after buying an additional 17,285 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in Nelnet during the 4th quarter valued at $417,000. Hedge funds and other institutional investors own 33.51% of the company's stock.

Wall Street Analyst Weigh In

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

Nelnet Trading Down 2.4%

Shares of NNI stock traded down $2.72 during trading hours on Friday, reaching $112.39. The company's stock had a trading volume of 52,064 shares, compared to its average volume of 59,379. The stock has a market capitalization of $4.08 billion, a P/E ratio of 36.97 and a beta of 0.95. Nelnet, Inc. has a one year low of $97.13 and a one year high of $127.32. The firm's fifty day simple moving average is $111.02 and its 200 day simple moving average is $110.53. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78.

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

Nelnet announced that its Board of Directors has approved a share buyback plan on Thursday, May 8th that allows the company to buyback 5,000,000 outstanding shares. This buyback authorization allows the credit services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Nelnet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Monday, June 2nd. Nelnet's payout ratio is 21.17%.

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.