Sycale Advisors NY LLC Buys 54,380 Shares of Nelnet, Inc. (NYSE:NNI)

Sycale Advisors NY LLC grew its holdings in Nelnet, Inc. (NYSE:NNI - Free Report) by 26.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 258,038 shares of the credit services provider's stock after purchasing an additional 54,380 shares during the period. Nelnet makes up about 7.1% of Sycale Advisors NY LLC's portfolio, making the stock its 3rd biggest position. Sycale Advisors NY LLC owned about 0.71% of Nelnet worth $27,561,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of NNI. Blue Trust Inc. lifted its stake in Nelnet by 1,293.1% in the 4th quarter. Blue Trust Inc. now owns 404 shares of the credit services provider's stock valued at $46,000 after purchasing an additional 375 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of Nelnet by 796.0% during the fourth quarter. Sterling Capital Management LLC now owns 448 shares of the credit services provider's stock worth $48,000 after buying an additional 398 shares in the last quarter. Man Group plc bought a new position in shares of Nelnet in the 4th quarter valued at $202,000. Venator Management LLC acquired a new stake in shares of Nelnet during the 4th quarter valued at $214,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Nelnet during the 4th quarter valued at $223,000. Institutional investors and hedge funds own 33.51% of the company's stock.

Analysts Set New Price Targets

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

Nelnet Trading Down 0.5%

Shares of Nelnet stock traded down $0.55 on Friday, hitting $113.44. The stock had a trading volume of 11,008 shares, compared to its average volume of 53,401. The stock has a 50 day moving average of $109.42 and a 200 day moving average of $110.06. The firm has a market capitalization of $4.12 billion, a P/E ratio of 37.31 and a beta of 0.93. Nelnet, Inc. has a twelve month low of $97.13 and a twelve month high of $127.32. The company has a debt-to-equity ratio of 2.78, a quick ratio of 31.47 and a current ratio of 31.47.

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

Nelnet Dividend Announcement

The business 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 $0.28 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 0.99%. Nelnet's payout ratio is 21.17%.

Nelnet declared that its Board of Directors has approved a stock 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 repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

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.