Jump Financial LLC Takes $256,000 Position in Nelnet, Inc. $NNI

Key Points

• Jump Financial LLC has acquired a new stake in Nelnet, Inc. (NYSE: NNI), purchasing 2,304 shares valued at approximately $256,000 during the first quarter.
• Nelnet recently reported $5.05 EPS for the quarter, significantly exceeding analysts' expectations of $1.91, along with revenue of $540.61 million compared to a forecast of $376.40 million.
• The company has announced a new share buyback program allowing for the repurchase of 5 million shares, indicating that management believes the stock may be undervalued.

Jump Financial LLC bought a new position in shares of Nelnet, Inc. (NYSE:NNI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,304 shares of the credit services provider's stock, valued at approximately $256,000.

Other large investors also recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new stake in shares of Nelnet during the first quarter worth about $58,000. Martingale Asset Management L P acquired a new stake in shares of Nelnet in the 1st quarter worth approximately $1,727,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Nelnet during the first quarter valued at approximately $117,000. Algert Global LLC lifted its stake in shares of Nelnet by 10.0% in the 1st quarter. Algert Global LLC now owns 21,854 shares of the credit services provider's stock valued at $2,424,000 after purchasing an additional 1,990 shares during the last quarter. Finally, RMR Capital Management LLC increased its stake in Nelnet by 10.4% in the first quarter. RMR Capital Management LLC now owns 4,453 shares of the credit services provider's stock valued at $494,000 after acquiring an additional 418 shares during the period. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Shelby J. Butterfield sold 41,929 shares of Nelnet stock in a transaction on Monday, August 25th. The stock was sold at an average price of $119.25, for a total transaction of $5,000,033.25. Following the transaction, the insider directly owned 510 shares in the company, valued at approximately $60,817.50. This trade represents a 98.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 50.90% of the company's stock.

Nelnet Price Performance

Shares of NNI stock traded down $1.88 on Monday, reaching $126.94. The company's stock had a trading volume of 69,612 shares, compared to its average volume of 65,967. Nelnet, Inc. has a 1 year low of $98.15 and a 1 year high of $136.17. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 14.03 and a beta of 0.87. The stock's fifty day simple moving average is $124.83 and its 200-day simple moving average is $116.69. The company has a current ratio of 29.42, a quick ratio of 29.41 and a debt-to-equity ratio of 2.27.

Nelnet (NYSE:NNI - Get Free Report) last issued its earnings results on Wednesday, August 6th. The credit services provider reported $5.05 EPS for the quarter, beating analysts' consensus estimates of $1.91 by $3.14. The firm had revenue of $540.61 million for the quarter, compared to analyst estimates of $376.40 million. Nelnet had a return on equity of 10.09% and a net margin of 14.86%. Analysts forecast that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

Nelnet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from Nelnet's previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, September 2nd. Nelnet's payout ratio is 13.29%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Nelnet from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th.

Nelnet Company 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.