Squarepoint Ops LLC grew its holdings in shares of Navient Corporation (NASDAQ:NAVI - Free Report) by 145.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 939,099 shares of the credit services provider's stock after acquiring an additional 557,141 shares during the quarter. Squarepoint Ops LLC owned about 1.00% of Navient worth $7,992,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Navient in the second quarter valued at $110,235,000. Orbis Allan Gray Ltd lifted its stake in Navient by 23.2% during the second quarter. Orbis Allan Gray Ltd now owns 2,848,718 shares of the credit services provider's stock worth $40,167,000 after purchasing an additional 536,933 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Navient by 20.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,484,742 shares of the credit services provider's stock worth $32,302,000 after purchasing an additional 418,161 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Navient by 41.5% in the 2nd quarter. Wellington Management Group LLP now owns 1,939,380 shares of the credit services provider's stock worth $16,504,000 after purchasing an additional 568,590 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Navient by 37.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,543,796 shares of the credit services provider's stock valued at $20,069,000 after acquiring an additional 423,381 shares during the last quarter. 97.14% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the company. TD Cowen reaffirmed a "sell" rating on shares of Navient in a research note on Friday, August 7th. JPMorgan Chase & Co. dropped their price objective on Navient from $9.50 to $8.00 and set a "neutral" rating for the company in a research note on Monday, July 13th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Navient in a report on Wednesday, June 24th. Five analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Navient presently has a consensus rating of "Reduce" and an average target price of $9.14.
Check Out Our Latest Research Report on NAVI
Navient Price Performance
Shares of Navient stock opened at $9.15 on Friday. The business has a 50 day moving average of $8.92 and a 200 day moving average of $8.57. Navient Corporation has a 52 week low of $7.33 and a 52 week high of $13.50. The company has a market cap of $858.09 million, a PE ratio of -18.30 and a beta of 1.18. The company has a quick ratio of 10.53, a current ratio of 10.53 and a debt-to-equity ratio of 16.73.
Navient (NASDAQ:NAVI - Get Free Report) last posted its earnings results on Thursday, August 6th. The credit services provider reported $0.29 EPS for the quarter, topping the consensus estimate of $0.20 by $0.09. Navient had a negative net margin of 1.64% and a positive return on equity of 4.68%. The firm had revenue of $150.00 million during the quarter, compared to analysts' expectations of $142.87 million. During the same period last year, the company posted $0.20 EPS. As a group, equities research analysts forecast that Navient Corporation will post 0.78 earnings per share for the current year.
Navient Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Friday, September 4th. Navient's payout ratio is presently -128.00%.
About Navient
(
Free Report)
Navient Corporation NASDAQ: NAVI is a specialized provider of asset management and business processing solutions, with a primary focus on student loan servicing. Established in 2014 through the separation from Sallie Mae, Navient assumed responsibility for servicing federal and private education loans, positioning itself as one of the largest servicers of higher education debt in the United States.
The company's core activities center on federal student loan servicing under contracts with the U.S.
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