Nelnet (NYSE:NNI) Stock Price Up 7.9% - Time to Buy?

Nelnet, Inc. (NYSE:NNI - Get Free Report) traded up 7.9% during trading on Thursday . The stock traded as high as $122.96 and last traded at $131.80. 45,419 shares were traded during trading, a decline of 24% from the average session volume of 59,615 shares. The stock had previously closed at $122.15.

Nelnet Price Performance

The business has a fifty day moving average of $114.80 and a two-hundred day moving average of $111.54. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 23.14 and a beta of 0.95. The company has a debt-to-equity ratio of 2.57, a quick ratio of 34.08 and a current ratio of 34.08.

Nelnet (NYSE:NNI - Get Free Report) last released 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. The firm had revenue of $398.49 million for the quarter, compared to the consensus estimate of $393.00 million. Nelnet had a net margin of 9.44% and a return on equity of 6.00%. As a group, research analysts predict that Nelnet, Inc. will post 4.52 EPS for the current fiscal year.

Nelnet Dividend Announcement

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

Nelnet announced that its board has authorized a share buyback program on Thursday, May 8th that permits the company to buyback 5,000,000 shares. This buyback authorization permits the credit services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company's board believes its shares are undervalued.

Institutional Trading of Nelnet

Several hedge funds and other institutional investors have recently bought and sold shares of NNI. MetLife Investment Management LLC grew its position in Nelnet by 1.8% during the fourth quarter. MetLife Investment Management LLC now owns 8,510 shares of the credit services provider's stock worth $909,000 after buying an additional 151 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Nelnet by 1.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,395 shares of the credit services provider's stock worth $1,217,000 after acquiring an additional 188 shares in the last quarter. KBC Group NV acquired a new stake in shares of Nelnet in the 1st quarter valued at $32,000. Russell Investments Group Ltd. raised its holdings in shares of Nelnet by 576.5% during the 1st quarter. Russell Investments Group Ltd. now owns 460 shares of the credit services provider's stock worth $51,000 after buying an additional 392 shares in the last quarter. Finally, Sterling Capital Management LLC increased its holdings in shares of Nelnet by 796.0% during the fourth quarter. Sterling Capital Management LLC now owns 448 shares of the credit services provider's stock worth $48,000 after buying an additional 398 shares in the last quarter. Institutional investors and hedge funds own 33.51% of the company's stock.

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.