Nelnet (NYSE:NNI) Shares Cross Above Two Hundred Day Moving Average of $88.23

Shares of Nelnet, Inc. (NYSE:NNI - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $88.23 and traded as high as $95.26. Nelnet shares last traded at $94.48, with a volume of 67,201 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Nelnet from a "buy" rating to a "hold" rating in a report on Tuesday, April 16th.

Nelnet Trading Down 0.2 %

The company has a quick ratio of 35.15, a current ratio of 35.15 and a debt-to-equity ratio of 3.67. The company has a fifty day moving average of $91.28 and a two-hundred day moving average of $88.23. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 38.72 and a beta of 0.85.

Nelnet (NYSE:NNI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The credit services provider reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $1.15 by ($1.19). Nelnet had a return on equity of 3.81% and a net margin of 4.43%. The company had revenue of $260.66 million for the quarter. On average, research analysts expect that Nelnet, Inc. will post 5.15 EPS for the current year.

Nelnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.19%. The ex-dividend date was Thursday, February 29th. Nelnet's payout ratio is 45.90%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. CWM LLC raised its position in Nelnet by 176.5% in the fourth quarter. CWM LLC now owns 412 shares of the credit services provider's stock worth $36,000 after acquiring an additional 263 shares in the last quarter. TFO Wealth Partners LLC raised its position in Nelnet by 49,900.0% in the fourth quarter. TFO Wealth Partners LLC now owns 500 shares of the credit services provider's stock worth $44,000 after acquiring an additional 499 shares in the last quarter. Graham Capital Management L.P. purchased a new position in shares of Nelnet in the third quarter valued at $238,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Nelnet by 31.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,013 shares of the credit services provider's stock valued at $269,000 after buying an additional 723 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Nelnet in the fourth quarter valued at $282,000. Hedge funds and other institutional investors 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.