Voloridge Investment Management LLC purchased a new position in shares of Navient Co. (NASDAQ:NAVI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 301,660 shares of the credit services provider's stock, valued at approximately $4,009,000. Voloridge Investment Management LLC owned approximately 0.28% of Navient as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in NAVI. Barclays PLC grew its stake in shares of Navient by 59.0% during the 3rd quarter. Barclays PLC now owns 284,130 shares of the credit services provider's stock worth $4,429,000 after acquiring an additional 105,454 shares in the last quarter. EMC Capital Management boosted its position in shares of Navient by 2,193.7% in the fourth quarter. EMC Capital Management now owns 20,276 shares of the credit services provider's stock valued at $269,000 after acquiring an additional 19,392 shares during the period. Empowered Funds LLC lifted its position in Navient by 5.1% during the fourth quarter. Empowered Funds LLC now owns 467,232 shares of the credit services provider's stock worth $6,210,000 after purchasing an additional 22,765 shares during the period. Entropy Technologies LP lifted its position in Navient by 46.2% during the fourth quarter. Entropy Technologies LP now owns 21,526 shares of the credit services provider's stock worth $286,000 after purchasing an additional 6,800 shares during the period. Finally, Rhumbline Advisers lifted its position in Navient by 5.8% during the fourth quarter. Rhumbline Advisers now owns 343,341 shares of the credit services provider's stock worth $4,563,000 after purchasing an additional 18,760 shares during the period. 97.14% of the stock is owned by institutional investors.
Navient Stock Down 0.4%
NASDAQ:NAVI traded down $0.06 during trading hours on Friday, hitting $13.53. 1,000,626 shares of the company traded hands, compared to its average volume of 756,987. Navient Co. has a one year low of $10.53 and a one year high of $16.97. The company has a market cap of $1.37 billion, a PE ratio of 11.66 and a beta of 1.38. The firm's 50-day simple moving average is $12.46 and its 200-day simple moving average is $13.48. The company has a quick ratio of 9.49, a current ratio of 9.48 and a debt-to-equity ratio of 16.35.
Navient (NASDAQ:NAVI - Get Free Report) last announced its earnings results on Wednesday, April 30th. The credit services provider reported $0.28 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $156.00 million during the quarter, compared to analyst estimates of $150.40 million. During the same period last year, the firm posted $0.47 EPS. Equities analysts predict that Navient Co. will post 1.04 earnings per share for the current year.
Navient Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.73%. The ex-dividend date of this dividend is Friday, June 6th. Navient's dividend payout ratio (DPR) is currently 128.00%.
Wall Street Analysts Forecast Growth
Several research analysts have commented on NAVI shares. JPMorgan Chase & Co. boosted their target price on Navient from $11.00 to $12.50 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. TD Securities increased their target price on shares of Navient from $11.00 to $12.00 and gave the company a "sell" rating in a research report on Thursday, May 1st. Keefe, Bruyette & Woods cut their price target on Navient from $16.00 to $14.00 and set a "market perform" rating on the stock in a report on Monday, March 31st. Jefferies Financial Group cut their price target on Navient from $14.00 to $12.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Finally, TD Cowen cut Navient from a "hold" rating to a "strong sell" rating in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $12.93.
Check Out Our Latest Analysis on Navient
Navient Profile
(
Free Report)
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.
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