Nelnet, Inc. (NYSE:NNI) Short Interest Up 30.8% in May

Nelnet, Inc. (NYSE:NNI - Get Free Report) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 393,400 shares, an increase of 30.8% from the April 30th total of 300,800 shares. Approximately 2.4% of the company's stock are sold short. Based on an average trading volume of 63,500 shares, the short-interest ratio is currently 6.2 days.

Nelnet Stock Up 0.5%

Shares of NYSE NNI traded up $0.62 during midday trading on Friday, hitting $114.51. The stock had a trading volume of 50,913 shares, compared to its average volume of 59,532. The business's 50 day moving average is $110.02 and its 200-day moving average is $110.27. The company has a market cap of $4.16 billion, a P/E ratio of 37.67 and a beta of 0.95. Nelnet has a 52 week low of $97.13 and a 52 week high of $127.32. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78.

Nelnet (NYSE:NNI - Get Free Report) last issued its earnings results on Thursday, May 8th. The credit services provider reported $2.39 earnings per share (EPS) for the quarter, topping 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 5.54% and a return on equity of 3.78%. As a group, analysts predict that Nelnet will post 4.52 EPS for the current year.

Nelnet declared that its board has authorized a stock repurchase plan on Thursday, May 8th that authorizes the company to buyback 5,000,000 shares. This buyback authorization authorizes the credit services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its shares are undervalued.

Nelnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.12 annualized dividend and a dividend yield of 0.98%. Nelnet's payout ratio is 21.17%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Nelnet from a "hold" rating to a "buy" rating in a research report on Tuesday, March 4th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Nelnet by 13.9% during the first quarter. Vanguard Group Inc. now owns 1,535,569 shares of the credit services provider's stock valued at $170,341,000 after purchasing an additional 187,813 shares during the last quarter. Farmers & Merchants Investments Inc. raised its holdings in shares of Nelnet by 1.5% during the first quarter. Farmers & Merchants Investments Inc. now owns 1,204,798 shares of the credit services provider's stock valued at $133,648,000 after purchasing an additional 17,271 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Nelnet by 16,773.6% during the fourth quarter. Proficio Capital Partners LLC now owns 482,247 shares of the credit services provider's stock valued at $482,000 after purchasing an additional 479,389 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Nelnet by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 361,553 shares of the credit services provider's stock valued at $38,627,000 after purchasing an additional 1,060 shares during the last quarter. Finally, Sycale Advisors NY LLC raised its holdings in shares of Nelnet by 26.7% during the fourth quarter. Sycale Advisors NY LLC now owns 258,038 shares of the credit services provider's stock valued at $27,561,000 after purchasing an additional 54,380 shares during the last quarter. 33.51% of the stock is owned by hedge funds and other institutional investors.

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.