Voloridge Investment Management LLC Takes Position in Nelnet, Inc. (NYSE:NNI)

Voloridge Investment Management LLC acquired a new position in shares of Nelnet, Inc. (NYSE:NNI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,438 shares of the credit services provider's stock, valued at approximately $581,000.

A number of other institutional investors have also made changes to their positions in NNI. Blue Trust Inc. boosted its position in shares of Nelnet by 1,293.1% during the fourth quarter. Blue Trust Inc. now owns 404 shares of the credit services provider's stock worth $46,000 after buying an additional 375 shares during the period. Sterling Capital Management LLC raised its holdings in Nelnet by 796.0% during the fourth quarter. Sterling Capital Management LLC now owns 448 shares of the credit services provider's stock worth $48,000 after acquiring an additional 398 shares in the last quarter. Man Group plc bought a new stake in Nelnet during the fourth quarter worth about $202,000. Venator Management LLC bought a new stake in Nelnet during the fourth quarter worth about $214,000. Finally, EntryPoint Capital LLC bought a new stake in Nelnet during the fourth quarter worth about $223,000. 33.51% of the stock is owned by institutional investors and hedge funds.

Nelnet Stock Performance

NYSE:NNI traded down $0.34 on Tuesday, hitting $116.04. The company's stock had a trading volume of 87,207 shares, compared to its average volume of 59,467. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78. The stock has a fifty day moving average of $109.84 and a two-hundred day moving average of $110.14. The firm has a market capitalization of $4.21 billion, a P/E ratio of 38.17 and a beta of 0.93. Nelnet, Inc. has a one year low of $97.13 and a one year high of $127.32.

Nelnet (NYSE:NNI - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The credit services provider reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.47. The firm had revenue of $398.49 million for the quarter, compared to analyst estimates of $393.00 million. Nelnet had a return on equity of 3.78% and a net margin of 5.54%. Research analysts predict that Nelnet, Inc. will post 4.52 earnings per share for the current year.

Nelnet announced that its board has initiated a stock repurchase plan on Thursday, May 8th that allows the company to repurchase 5,000,000 outstanding shares. This repurchase authorization allows the credit services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Nelnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.28 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.12 annualized dividend and a yield of 0.97%. Nelnet's dividend payout ratio is 21.17%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Nelnet from a "hold" rating to a "buy" rating in a report on Tuesday, March 4th.

Nelnet Profile

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.