Nelnet (NYSE:NNI) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Nelnet shares rose 2.6% and moved above their 200-day moving average of $129.96, reaching $132.01 before last trading at $130.30.
• Analyst sentiment remains cautious: MarketBeat reports an average “Reduce” rating and a $125 price target, with two Hold ratings and one Sell rating.
• Nelnet beat quarterly expectations, reporting EPS of $1.89 versus $1.83 expected and revenue of $436.59 million versus $427.37 million. It also raised its quarterly dividend from $0.33 to $0.36 per share.

Nelnet, Inc. (NYSE:NNI - Get Free Report) shares passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $129.96 and traded as high as $132.01. Nelnet shares last traded at $130.30, with a volume of 197,170 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NNI shares. Weiss Ratings lowered shares of Nelnet from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday. TD Cowen lowered their price target on shares of Nelnet from $130.00 to $125.00 and set a "hold" rating for the company in a research report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Nelnet currently has an average rating of "Reduce" and an average price target of $125.00.

Nelnet Stock Up 2.6%

The company has a debt-to-equity ratio of 1.94, a quick ratio of 15.89 and a current ratio of 15.89. The business's 50 day moving average is $125.45 and its 200 day moving average is $129.96. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 17.26 and a beta of 0.78.

Nelnet (NYSE:NNI - Get Free Report) last released its earnings results on Thursday, November 5th. The credit services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.06. Nelnet had a return on equity of 8.26% and a net margin of 14.35%. The business had revenue of $436.59 million for the quarter, compared to analyst estimates of $427.37 million. Sell-side analysts anticipate that Nelnet, Inc. will post 7.42 earnings per share for the current year.

Nelnet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, December 1st. This is a positive change from Nelnet's previous quarterly dividend of $0.33. Nelnet's dividend payout ratio (DPR) is currently 15.79%.

Institutional Trading of Nelnet

A number of institutional investors have recently made changes to their positions in the business. Ameritas Advisory Services LLC purchased a new position in shares of Nelnet during the second quarter worth $33,000. Integrated Wealth Concepts LLC acquired a new position in shares of Nelnet during the second quarter worth approximately $38,000. EverSource Wealth Advisors LLC raised its holdings in shares of Nelnet by 51.4% during the first quarter. EverSource Wealth Advisors LLC now owns 445 shares of the credit services provider's stock valued at $57,000 after acquiring an additional 151 shares during the period. Versant Capital Management Inc boosted its stake in shares of Nelnet by 144.2% during the 2nd quarter. Versant Capital Management Inc now owns 591 shares of the credit services provider's stock worth $79,000 after acquiring an additional 349 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in Nelnet by 424.6% in the third quarter. Signaturefd LLC now owns 960 shares of the credit services provider's stock worth $118,000 after purchasing an additional 777 shares in the last quarter. Institutional investors and hedge funds own 33.51% of the company's stock.

Nelnet Company Profile

Nelnet, Inc is a diversified education, technology and communications company headquartered in Lincoln, Nebraska. Its businesses provide services to colleges, universities, schools, students, borrowers and businesses, with a focus on simplifying education-related payments, administration and technology.

The company's activities include student loan servicing and asset management, tuition payment processing, education technology, school administration solutions and communications services.

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