5,438 Shares in Nelnet, Inc. (NYSE:NNI) Purchased by Voloridge Investment Management LLC

Voloridge Investment Management LLC bought a new stake in Nelnet, Inc. (NYSE:NNI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,438 shares of the credit services provider's stock, valued at approximately $581,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Nelnet by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 1,347,756 shares of the credit services provider's stock worth $143,954,000 after buying an additional 99,885 shares during the period. Farmers & Merchants Investments Inc. grew its stake in Nelnet by 0.5% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,187,527 shares of the credit services provider's stock valued at $126,840,000 after acquiring an additional 5,708 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Nelnet by 16,773.6% in the 4th quarter. Proficio Capital Partners LLC now owns 482,247 shares of the credit services provider's stock valued at $482,000 after acquiring an additional 479,389 shares in the last quarter. Geode Capital Management LLC lifted its stake in Nelnet by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 361,553 shares of the credit services provider's stock worth $38,627,000 after purchasing an additional 1,060 shares during the last quarter. Finally, Sycale Advisors NY LLC grew its holdings in shares of Nelnet by 26.7% during the 4th quarter. Sycale Advisors NY LLC now owns 258,038 shares of the credit services provider's stock valued at $27,561,000 after purchasing an additional 54,380 shares during the last quarter. Institutional investors and hedge funds own 33.51% of the company's stock.

Wall Street Analyst Weigh In

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

Nelnet Price Performance

Shares of NNI traded down $0.74 during mid-day trading on Tuesday, reaching $115.64. The stock had a trading volume of 16,524 shares, compared to its average volume of 59,320. The business has a fifty day moving average of $109.80 and a 200 day moving average of $110.09. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 38.04 and a beta of 0.93. Nelnet, Inc. has a 12 month low of $97.13 and a 12 month high of $127.32. The company has a debt-to-equity ratio of 2.78, a quick ratio of 31.47 and a current ratio of 31.47.

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

Nelnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.28 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.12 annualized dividend and a dividend yield of 0.97%. Nelnet's dividend payout ratio (DPR) is presently 21.17%.

Nelnet declared that its board has authorized a stock repurchase plan on Thursday, May 8th that permits the company to repurchase 5,000,000 shares. This repurchase authorization permits the credit services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Nelnet Company 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.