Nelnet (NYSE:NNI) Sees Unusually-High Trading Volume - What's Next?

Nelnet, Inc. (NYSE:NNI - Get Free Report) shares saw strong trading volume on Thursday . 58,388 shares changed hands during trading, an increase of 3% from the previous session's volume of 56,868 shares.The stock last traded at $119.52 and had previously closed at $118.39.

Analysts Set New Price Targets

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

Nelnet Trading Up 1.7%

The company has a debt-to-equity ratio of 2.57, a current ratio of 34.08 and a quick ratio of 34.08. The firm has a market cap of $4.40 billion, a P/E ratio of 22.92 and a beta of 0.95. The company's 50 day moving average is $112.90 and its two-hundred day moving average is $110.94.

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, topping analysts' consensus estimates of $1.92 by $0.47. Nelnet had a return on equity of 6.00% and a net margin of 9.44%. The company had revenue of $398.49 million during the quarter, compared to the consensus estimate of $393.00 million. On average, sell-side analysts predict that Nelnet, Inc. will post 4.52 earnings per share for the current year.

Nelnet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.28 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.12 annualized dividend and a yield of 0.92%. Nelnet's dividend payout ratio (DPR) is currently 21.17%.

Nelnet announced that its Board of Directors has initiated a stock buyback 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. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Nelnet

A number of hedge funds have recently made changes to their positions in NNI. Proficio Capital Partners LLC boosted its position in shares of Nelnet by 16,773.6% during 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. Vanguard Group Inc. boosted its holdings in Nelnet by 13.9% during the first quarter. Vanguard Group Inc. now owns 1,535,569 shares of the credit services provider's stock valued at $170,341,000 after purchasing an additional 187,813 shares in the last quarter. Sycale Advisors NY LLC boosted its holdings in Nelnet by 26.7% during the fourth 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 in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Nelnet by 30.7% in the 4th quarter. JPMorgan Chase & Co. now owns 172,480 shares of the credit services provider's stock valued at $18,423,000 after purchasing an additional 40,476 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Nelnet in the 1st quarter worth approximately $4,429,000. Institutional investors and hedge funds own 33.51% of the company's stock.

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.