Nelnet (NYSE:NNI) Sees Strong Trading Volume - Here's Why

Key Points

• Nelnet saw 87,722 shares trade on Tuesday (a 29% decline from the prior session's 123,348), last trading at $127.74 versus a prior close of $129.09.
• Analysts have mixed views: Zacks upgraded Nelnet to a Strong Buy, while the consensus rating is a Moderate Buy with a consensus price target of $140.00.
• Nelnet reported quarterly EPS of $1.56, which missed estimates by $0.07 while revenue of $392.8M beat consensus, and the company pays a quarterly dividend of $0.33 (annual $1.32, ~1.0% yield).

Nelnet, Inc. (NYSE:NNI - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 87,722 shares changed hands during trading, a decline of 29% from the previous session's volume of 123,348 shares.The stock last traded at $127.7370 and had previously closed at $129.09.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Zacks Research raised Nelnet from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 12th. TD Cowen reiterated a "hold" rating on shares of Nelnet in a report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $140.00.

Nelnet Stock Down 0.4%

The company has a current ratio of 28.27, a quick ratio of 28.27 and a debt-to-equity ratio of 2.18. The business's fifty day moving average price is $130.52 and its two-hundred day moving average price is $130.68. The firm has a market cap of $4.61 billion, a P/E ratio of 10.95 and a beta of 0.82.

Nelnet (NYSE:NNI - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The credit services provider reported $1.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.63 by ($0.07). Nelnet had a return on equity of 12.43% and a net margin of 18.99%.The business had revenue of $392.76 million during the quarter, compared to the consensus estimate of $382.00 million. As a group, equities research analysts anticipate that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.0%. Nelnet's dividend payout ratio is currently 11.21%.

Institutional Investors Weigh In On Nelnet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rossby Financial LCC acquired a new position in Nelnet during the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Nelnet in the fourth quarter worth $31,000. Osaic Holdings Inc. lifted its stake in shares of Nelnet by 170.3% in the second quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider's stock worth $45,000 after buying an additional 235 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Nelnet by 189.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 368 shares of the credit services provider's stock worth $46,000 after buying an additional 241 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Nelnet during the 4th quarter worth $59,000. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Nelnet Company Profile

Nelnet, Inc NYSE: NNI is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet's business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.

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