Renaissance Technologies LLC Raises Stock Holdings in Nelnet, Inc. $NNI

Key Points

• Renaissance Technologies increased its Nelnet stake by 58.9% in the first quarter, acquiring 17,800 additional shares and ending with 48,000 shares valued at approximately $6.19 million. Institutional investors collectively own 33.51% of Nelnet.
• Analyst sentiment is mixed: Nelnet has one Buy, one Hold, and one Sell rating, resulting in an average “Hold” rating and a $140 price target.
• Nelnet’s latest quarterly results fell short of expectations, with EPS of $1.94 versus the $2.66 consensus estimate and revenue of $419.06 million versus $443.84 million expected.

Renaissance Technologies LLC raised its position in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 58.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,000 shares of the credit services provider's stock after buying an additional 17,800 shares during the quarter. Renaissance Technologies LLC owned about 0.13% of Nelnet worth $6,190,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NNI. Rossby Financial LCC purchased a new stake in shares of Nelnet in the 4th quarter worth about $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Nelnet in the 4th quarter worth about $31,000. Osaic Holdings Inc. lifted its position in Nelnet by 170.3% during the 2nd quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider's stock valued at $45,000 after acquiring an additional 235 shares during the period. Los Angeles Capital Management LLC bought a new stake in Nelnet during the fourth quarter worth about $59,000. Finally, State of Wyoming bought a new stake in Nelnet during the second quarter worth about $62,000. Hedge funds and other institutional investors own 33.51% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NNI shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Nelnet in a research note on Wednesday, July 29th. Zacks Research lowered shares of Nelnet from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $140.00.

Nelnet Price Performance

Shares of NYSE:NNI opened at $135.97 on Wednesday. Nelnet, Inc. has a 1-year low of $116.62 and a 1-year high of $144.38. The company has a debt-to-equity ratio of 2.14, a current ratio of 24.07 and a quick ratio of 24.07. The business has a fifty day moving average price of $132.18 and a 200-day moving average price of $131.88. The company has a market capitalization of $4.89 billion, a PE ratio of 11.84 and a beta of 0.78.

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

Nelnet Company Profile

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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