Y Intercept Hong Kong Ltd Purchases Shares of 150,000 Navient Corporation $NAVI

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Navient during the first quarter, buying 150,000 shares worth about $1.23 million.
• Navient has seen continued institutional interest, with several other hedge funds and investors recently adding shares; institutional ownership now stands at 97.14%.
• Analysts remain cautious on the stock, with a consensus rating of “Reduce” and an average price target of $9.21, even after Navient reported better-than-expected quarterly earnings and revenue.

Y Intercept Hong Kong Ltd bought a new position in Navient Corporation (NASDAQ:NAVI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 150,000 shares of the credit services provider's stock, valued at approximately $1,227,000. Y Intercept Hong Kong Ltd owned about 0.16% of Navient as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of NAVI. GAMMA Investing LLC raised its holdings in Navient by 70.5% in the fourth quarter. GAMMA Investing LLC now owns 1,978 shares of the credit services provider's stock valued at $26,000 after buying an additional 818 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Navient in the fourth quarter worth $44,000. PNC Financial Services Group Inc. raised its stake in shares of Navient by 39.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,228 shares of the credit services provider's stock valued at $55,000 after acquiring an additional 1,191 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Navient by 3,045.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,127 shares of the credit services provider's stock valued at $67,000 after acquiring an additional 4,964 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Navient by 88.0% during the 4th quarter. Covestor Ltd now owns 5,754 shares of the credit services provider's stock valued at $75,000 after acquiring an additional 2,693 shares in the last quarter. Institutional investors and hedge funds own 97.14% of the company's stock.

Analyst Ratings Changes

NAVI has been the topic of several research reports. Zacks Research raised Navient from a "strong sell" rating to a "hold" rating in a research report on Monday, March 30th. Morgan Stanley decreased their price target on Navient from $12.00 to $9.00 and set an "equal weight" rating for the company in a report on Thursday, April 16th. Bank of America started coverage on shares of Navient in a research note on Monday, April 20th. They set an "underperform" rating and a $7.00 price target on the stock. Barclays upped their target price on Navient from $7.00 to $8.00 and gave the company an "underweight" rating in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Navient from $10.50 to $8.50 and set a "neutral" rating for the company in a research note on Thursday, April 9th. Five investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $9.21.

Navient Stock Performance

NAVI stock traded up $0.21 during trading on Friday, reaching $8.24. 882,406 shares of the company's stock were exchanged, compared to its average volume of 1,085,687. The firm has a market cap of $774.48 million, a PE ratio of -13.08 and a beta of 1.19. The company has a quick ratio of 7.67, a current ratio of 7.67 and a debt-to-equity ratio of 16.49. Navient Corporation has a 1-year low of $7.33 and a 1-year high of $15.51. The company's fifty day moving average price is $8.27 and its 200-day moving average price is $9.35.

Navient (NASDAQ:NAVI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The credit services provider reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.03. The business had revenue of $152.00 million for the quarter, compared to analysts' expectations of $141.47 million. Navient had a negative net margin of 1.94% and a positive return on equity of 4.39%. During the same period in the previous year, the business earned $0.25 earnings per share. On average, research analysts expect that Navient Corporation will post 0.69 EPS for the current fiscal year.

Navient Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date of this dividend was Friday, June 5th. Navient's dividend payout ratio is currently -101.59%.

Navient Company Profile

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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