Renaissance Technologies LLC Sells 8,600 Shares of Nelnet, Inc. (NYSE:NNI)

Renaissance Technologies LLC reduced its position in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 66.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,300 shares of the credit services provider's stock after selling 8,600 shares during the quarter. Renaissance Technologies LLC's holdings in Nelnet were worth $459,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Christopher J. Hasenberg Inc purchased a new position in Nelnet during the 4th quarter valued at about $38,000. Blue Trust Inc. boosted its stake in shares of Nelnet by 1,293.1% during the 4th quarter. Blue Trust Inc. now owns 404 shares of the credit services provider's stock valued at $46,000 after buying an additional 375 shares during the period. QRG Capital Management Inc. increased its stake in shares of Nelnet by 8.6% in the fourth quarter. QRG Capital Management Inc. now owns 4,852 shares of the credit services provider's stock worth $518,000 after acquiring an additional 384 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Nelnet by 8.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,902 shares of the credit services provider's stock valued at $630,000 after purchasing an additional 468 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Nelnet by 2.8% in the fourth quarter. Invesco Ltd. now owns 33,139 shares of the credit services provider's stock valued at $3,540,000 after purchasing an additional 892 shares in the last quarter. Institutional investors and hedge funds own 33.51% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Nelnet from a "hold" rating to a "buy" rating in a research report on Tuesday, March 4th.

Nelnet Stock Performance

NNI traded down $1.11 on Tuesday, hitting $105.69. The company had a trading volume of 39,961 shares, compared to its average volume of 59,770. Nelnet, Inc. has a 1-year low of $95.60 and a 1-year high of $127.32. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. The company's fifty day moving average price is $110.14 and its 200 day moving average price is $109.94. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 34.77 and a beta of 0.93.

Nelnet (NYSE:NNI - Get Free Report) last released its earnings results on Thursday, February 27th. The credit services provider reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.21. The firm had revenue of $401.61 million during the quarter, compared to analyst estimates of $335.00 million. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. Equities analysts predict that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

About Nelnet

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.