Navient Corporation (NASDAQ:NAVI - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $8.97 and traded as high as $9.09. Navient shares last traded at $9.08, with a volume of 1,333,462 shares.
Analysts Set New Price Targets
Several analysts recently weighed in on NAVI shares. Weiss Ratings reiterated a "sell (d)" rating on shares of Navient in a report on Monday, September 21st. Zacks Research upgraded Navient from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 12th. JPMorgan Chase & Co. raised their price target on Navient from $8.00 to $8.50 and gave the stock a "neutral" rating in a research report on Monday, October 12th. Barclays dropped their price objective on Navient from $8.00 to $7.00 and set an "underweight" rating for the company in a research note on Monday, October 5th. Finally, TD Cowen reiterated a "sell" rating on shares of Navient in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Navient currently has an average rating of "Reduce" and an average price target of $8.17.
Get Our Latest Research Report on NAVI
Navient Trading Up 11.5%
The company's 50 day moving average price is $9.24 and its 200 day moving average price is $8.97. The company has a debt-to-equity ratio of 16.73, a current ratio of 10.53 and a quick ratio of 10.53. The firm has a market cap of $851.52 million, a PE ratio of -18.16 and a beta of 1.15.
Navient (NASDAQ:NAVI - Get Free Report) last announced its earnings results on Thursday, August 6th. The credit services provider reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.09. The firm had revenue of $150.00 million for the quarter, compared to the consensus estimate of $142.87 million. Navient had a negative net margin of 1.64% and a positive return on equity of 4.68%. During the same period in the prior year, the firm earned $0.20 EPS. As a group, analysts forecast that Navient Corporation will post 0.83 EPS for the current fiscal year.
Navient Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were paid a $0.16 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.64 annualized dividend and a dividend yield of 7.0%. Navient's payout ratio is -128.00%.
Hedge Funds Weigh In On Navient
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc acquired a new stake in Navient during the 2nd quarter worth $1,295,000. Wellington Management Group LLP lifted its stake in Navient by 41.5% in the second quarter. Wellington Management Group LLP now owns 1,939,380 shares of the credit services provider's stock valued at $16,504,000 after buying an additional 568,590 shares during the last quarter. WINTON GROUP Ltd lifted its stake in Navient by 290.4% in the second quarter. WINTON GROUP Ltd now owns 188,946 shares of the credit services provider's stock valued at $1,608,000 after buying an additional 140,550 shares during the last quarter. Engineers Gate Manager LP boosted its holdings in shares of Navient by 329.5% in the second quarter. Engineers Gate Manager LP now owns 169,241 shares of the credit services provider's stock valued at $1,440,000 after acquiring an additional 129,841 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Navient in the second quarter valued at approximately $3,176,000. 97.14% of the stock is owned by institutional investors and hedge funds.
About Navient
(
Get Free Report)
Navient Corp. NASDAQ: NAVI is a financial services company that provides education finance and business-processing solutions. The company has historically serviced and managed federal and private student loans, helping borrowers with account administration, repayment processing, customer support and related loan-management services.
Navient's operations have evolved as the company reduced its role in servicing federally owned student loans. In 2021, it transferred its federal student loan servicing portfolio to Aidvantage, a division of Maximus.
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