Tudor Investment Corp ET AL Makes New Investment in Nelnet, Inc. (NYSE:NNI)

Tudor Investment Corp ET AL acquired a new position in Nelnet, Inc. (NYSE:NNI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,487 shares of the credit services provider's stock, valued at approximately $1,441,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Christopher J. Hasenberg Inc purchased a new stake in Nelnet in the 4th quarter worth $38,000. Blue Trust Inc. increased its stake in Nelnet by 1,293.1% in the 4th quarter. Blue Trust Inc. now owns 404 shares of the credit services provider's stock worth $46,000 after buying an additional 375 shares in the last quarter. Sterling Capital Management LLC increased its stake in Nelnet by 796.0% in the 4th 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. Venator Management LLC purchased a new position in shares of Nelnet during the fourth quarter valued at about $214,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Nelnet during the fourth quarter valued at about $223,000. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

Nelnet Price Performance

Shares of Nelnet stock traded up $6.27 during trading on Friday, reaching $112.64. 76,683 shares of the stock traded hands, compared to its average volume of 59,059. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 37.05 and a beta of 0.93. The business has a fifty day simple moving average of $109.27 and a two-hundred day simple moving average of $109.80. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. Nelnet, Inc. has a 52-week low of $97.13 and a 52-week high of $127.32.

Nelnet (NYSE:NNI - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The credit services provider reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.92 by $0.47. The firm had revenue of $398.49 million during the quarter, compared to analyst estimates of $393.00 million. Nelnet had a return on equity of 3.78% and a net margin of 5.54%. Sell-side analysts expect that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet declared that its Board of Directors has approved a share buyback plan on Thursday, May 8th that allows the company to repurchase 5,000,000 shares. This repurchase authorization allows the credit services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Nelnet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Monday, June 2nd. Nelnet's payout ratio is 21.17%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Nelnet from a "hold" rating to a "buy" rating in a research report on Tuesday, March 4th.

Nelnet 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.