Nelnet, Inc. (NYSE:NNI) Stock Position Boosted by Sycale Advisors NY LLC

Sycale Advisors NY LLC raised its stake in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 26.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 258,038 shares of the credit services provider's stock after purchasing an additional 54,380 shares during the period. Nelnet accounts for 7.1% of Sycale Advisors NY LLC's holdings, making the stock its 3rd biggest position. Sycale Advisors NY LLC owned about 0.71% of Nelnet worth $27,561,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NNI. Vanguard Group Inc. lifted its stake 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 worth $143,954,000 after buying an additional 99,885 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its stake in shares of Nelnet by 0.5% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,187,527 shares of the credit services provider's stock worth $126,840,000 after buying an additional 5,708 shares in the last quarter. Proficio Capital Partners LLC lifted its stake 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 worth $482,000 after buying an additional 479,389 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Nelnet by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 361,553 shares of the credit services provider's stock worth $38,627,000 after buying an additional 1,060 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Nelnet by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 201,969 shares of the credit services provider's stock worth $21,572,000 after buying an additional 2,778 shares in the last quarter. 33.51% of the stock is owned by hedge funds and other institutional investors.

Nelnet Price Performance

Shares of NYSE:NNI traded down $2.94 during midday trading on Wednesday, hitting $115.85. The company's stock had a trading volume of 61,944 shares, compared to its average volume of 58,821. The business's 50 day simple moving average is $109.44 and its 200 day simple moving average is $110.07. The company has a debt-to-equity ratio of 2.78, a quick ratio of 31.47 and a current ratio of 31.47. The company has a market cap of $4.20 billion, a P/E ratio of 38.11 and a beta of 0.93. Nelnet, Inc. has a 12-month low of $97.13 and a 12-month high of $127.32.

Nelnet (NYSE:NNI - Get Free Report) last issued its 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 net margin of 5.54% and a return on equity of 3.78%. The company had revenue of $398.49 million for the quarter, compared to the consensus estimate of $393.00 million. On average, analysts forecast that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet declared that its Board of Directors has approved a share repurchase program on Thursday, May 8th that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the credit services provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Nelnet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid 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 (DPR) is presently 21.17%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Nelnet from a "hold" rating to a "buy" rating in a research note on Tuesday, March 4th.

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.