Nelnet, Inc. (NYSE:NNI) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, June 27th.
Separately, TheStreet downgraded shares of Nelnet from a “c-” rating to a “d+” rating in a research report on Thursday, March 23rd.
Shares of Nelnet (NYSE NNI) opened at 49.29 on Tuesday. Nelnet has a one year low of $33.91 and a one year high of $55.01. The stock has a market capitalization of $2.08 billion, a P/E ratio of 8.09 and a beta of 0.96. The stock has a 50 day moving average price of $42.66 and a 200 day moving average price of $46.21.
Nelnet (NYSE:NNI) last posted its earnings results on Monday, May 8th. The credit services provider reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by $0.01. The firm had revenue of $183.82 million for the quarter, compared to analyst estimates of $191.87 million. Nelnet had a net margin of 20.47% and a return on equity of 10.03%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 earnings per share. Equities analysts forecast that Nelnet will post $4.53 earnings per share for the current year.
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In related news, insider William J. Munn sold 998 shares of the business’s stock in a transaction that occurred on Thursday, April 20th. The shares were sold at an average price of $45.00, for a total transaction of $44,910.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Angie Muhleisen sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $45.00, for a total transaction of $90,000.00. The disclosure for this sale can be found here. Company insiders own 45.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of NNI. Victory Capital Management Inc. increased its stake in Nelnet by 2.0% in the first quarter. Victory Capital Management Inc. now owns 2,640 shares of the credit services provider’s stock valued at $116,000 after buying an additional 53 shares in the last quarter. Creative Planning increased its stake in Nelnet by 1.5% in the first quarter. Creative Planning now owns 3,046 shares of the credit services provider’s stock valued at $134,000 after buying an additional 46 shares in the last quarter. TFS Capital LLC acquired a new stake in Nelnet during the first quarter valued at approximately $277,000. Trexquant Investment LP acquired a new stake in Nelnet during the fourth quarter valued at approximately $290,000. Finally, Highbridge Capital Management LLC acquired a new stake in Nelnet during the fourth quarter valued at approximately $354,000. 41.12% of the stock is owned by institutional investors.
Nelnet Company Profile
Nelnet, Inc focuses on delivering education-related products and services and student loan asset management. The Company is engaged in student loan servicing, tuition payment processing and school information systems, and communications. The Company’s segments include Loan Systems and Servicing, Tuition Payment Processing and Campus Commerce, Communications, Asset Generation and Management, and Corporate and Other Activities.
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