Nelnet, Inc. $NNI is Sycale Advisors NY LLC's 9th Largest Position

Key Points

• Sycale Advisors NY LLC cut its Nelnet stake by 34.1% in the first quarter, selling 51,962 shares and ending with 100,479 shares worth about $13.0 million. Nelnet now accounts for roughly 6.5% of the firm’s portfolio, making it its 9th-largest holding.
• Nelnet’s latest earnings missed Wall Street expectations. The company reported EPS of $1.94 versus the $2.66 estimate, and revenue of $419.06 million also came in below forecasts.
• The stock remains modestly valued with a steady dividend. Nelnet recently traded around $132.41, has a consensus analyst rating of “Hold,” and pays a quarterly dividend of $0.33 per share, or $1.32 annualized, for a yield of about 1.0%.

Sycale Advisors NY LLC trimmed its position in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 34.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,479 shares of the credit services provider's stock after selling 51,962 shares during the period. Nelnet makes up approximately 6.5% of Sycale Advisors NY LLC's holdings, making the stock its 9th biggest holding. Sycale Advisors NY LLC owned approximately 0.28% of Nelnet worth $12,958,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Rossby Financial LCC purchased a new position in shares of Nelnet in the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in Nelnet during the fourth quarter valued at $31,000. Osaic Holdings Inc. raised its stake in Nelnet by 170.3% during the second quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider's stock valued at $45,000 after purchasing an additional 235 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Nelnet during the fourth quarter valued at $59,000. Finally, State of Wyoming bought a new position in Nelnet during the second quarter valued at $62,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NNI has been the topic of a number of research reports. Weiss Ratings upgraded shares of Nelnet from a "hold (c)" rating to a "buy (b)" rating in a report on Friday, May 1st. Zacks Research lowered Nelnet from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $140.00.

Nelnet Stock Down 0.6%

Shares of NNI opened at $132.41 on Thursday. The company has a market cap of $4.76 billion, a PE ratio of 11.53 and a beta of 0.78. The business has a fifty day moving average of $130.85 and a 200 day moving average of $131.88. Nelnet, Inc. has a 52-week low of $116.62 and a 52-week high of $144.38. The company has a quick ratio of 24.07, a current ratio of 24.07 and a debt-to-equity ratio of 2.14.

Nelnet (NYSE:NNI - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The credit services provider reported $1.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.66 by ($0.72). Nelnet had a net margin of 18.45% and a return on equity of 11.73%. The firm had revenue of $419.06 million for the quarter, compared to the consensus estimate of $443.84 million. On average, sell-side analysts expect that Nelnet, Inc. will post 8.18 EPS for the current year.

Nelnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, June 1st. Nelnet's dividend payout ratio is presently 11.50%.

About Nelnet

Nelnet, Inc NYSE: NNI is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet's business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.

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