301,660 Shares in Navient Co. (NASDAQ:NAVI) Acquired by Voloridge Investment Management LLC

Voloridge Investment Management LLC acquired a new position in Navient Co. (NASDAQ:NAVI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 301,660 shares of the credit services provider's stock, valued at approximately $4,009,000. Voloridge Investment Management LLC owned 0.28% of Navient at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Marshall Wace LLP lifted its stake in Navient by 1,043.8% in the fourth quarter. Marshall Wace LLP now owns 635,466 shares of the credit services provider's stock valued at $8,445,000 after buying an additional 579,909 shares during the period. Wellington Management Group LLP lifted its stake in Navient by 47.4% in the fourth quarter. Wellington Management Group LLP now owns 1,315,841 shares of the credit services provider's stock valued at $17,488,000 after buying an additional 423,013 shares during the period. Tudor Investment Corp ET AL lifted its stake in Navient by 1,088.8% in the fourth quarter. Tudor Investment Corp ET AL now owns 460,646 shares of the credit services provider's stock valued at $6,122,000 after buying an additional 421,898 shares during the period. Lighthouse Investment Partners LLC acquired a new position in Navient in the fourth quarter valued at approximately $3,717,000. Finally, Bank of America Corp DE lifted its stake in Navient by 69.4% in the fourth quarter. Bank of America Corp DE now owns 667,372 shares of the credit services provider's stock valued at $8,869,000 after buying an additional 273,483 shares during the period. 97.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wall Street Zen downgraded Navient from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Jefferies Financial Group decreased their price objective on Navient from $14.00 to $12.00 and set a "hold" rating for the company in a report on Monday, April 21st. TD Securities boosted their price objective on Navient from $11.00 to $12.00 and gave the company a "sell" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price objective on Navient from $11.00 to $12.50 and gave the company a "neutral" rating in a report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods decreased their price objective on Navient from $16.00 to $14.00 and set a "market perform" rating for the company in a report on Monday, March 31st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $12.93.

Navient Trading Down 0.4%

NAVI traded down $0.06 on Friday, hitting $13.53. 1,000,626 shares of the company were exchanged, compared to its average volume of 768,828. The firm has a fifty day simple moving average of $12.45 and a two-hundred day simple moving average of $13.52. The company has a debt-to-equity ratio of 16.35, a quick ratio of 9.49 and a current ratio of 9.48. Navient Co. has a 12 month low of $10.53 and a 12 month high of $16.97. The stock has a market capitalization of $1.37 billion, a PE ratio of 11.66 and a beta of 1.38.

Navient (NASDAQ:NAVI - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The credit services provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.09. Navient had a return on equity of 6.69% and a net margin of 2.96%. The business had revenue of $156.00 million during the quarter, compared to analysts' expectations of $150.40 million. During the same quarter last year, the business posted $0.47 EPS. Sell-side analysts expect that Navient Co. will post 1.04 earnings per share for the current year.

Navient Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date is Friday, June 6th. Navient's payout ratio is 128.00%.

Navient Company Profile

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.