TD Cowen Issues Pessimistic Forecast for Nelnet (NYSE:NNI) Stock Price

Nelnet (NYSE:NNI) had its price objective lowered by analysts at TD Cowen from $130.00 to $125.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the credit services provider’s stock. TD Cowen’s price objective would indicate a potential upside of 0.54% from the company’s current price.

NNI has been the topic of a number of other reports. Zacks Research downgraded shares of Nelnet from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Weiss Ratings cut shares of Nelnet from a “buy (b)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $125.00.

Nelnet Stock Up 0.0%

Shares of NNI opened at $124.32 on Tuesday. Nelnet has a 52-week low of $116.62 and a 52-week high of $144.38. The company has a market capitalization of $4.45 billion, a PE ratio of 14.87 and a beta of 0.77. The stock has a fifty day simple moving average of $127.33 and a two-hundred day simple moving average of $130.41. The company has a quick ratio of 15.89, a current ratio of 15.89 and a debt-to-equity ratio of 1.94.

Nelnet (NYSE:NNI) last posted its quarterly earnings results on Thursday, August 6th. The credit services provider reported $1.77 EPS for the quarter, missing the consensus estimate of $2.13 by ($0.36). Nelnet had a return on equity of 8.26% and a net margin of 14.35%.The company had revenue of $410.01 million for the quarter, compared to analysts’ expectations of $419.92 million. As a group, equities analysts forecast that Nelnet will post 7.5 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. QRG Capital Management Inc. raised its stake in shares of Nelnet by 14.8% in the 2nd quarter. QRG Capital Management Inc. now owns 5,429 shares of the credit services provider’s stock valued at $724,000 after acquiring an additional 700 shares during the period. Engineers Gate Manager LP boosted its position in shares of Nelnet by 16.2% during the 2nd quarter. Engineers Gate Manager LP now owns 6,648 shares of the credit services provider’s stock worth $886,000 after purchasing an additional 929 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Nelnet during the 2nd quarter worth approximately $38,000. Allworth Financial LP increased its holdings in Nelnet by 17.8% in the 2nd quarter. Allworth Financial LP now owns 1,358 shares of the credit services provider’s stock valued at $181,000 after purchasing an additional 205 shares during the last quarter. Finally, Corient Private Wealth LP acquired a new stake in Nelnet in the 2nd quarter valued at approximately $687,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

About Nelnet

Nelnet, Inc is an education-focused technology and financial services company headquartered in Lincoln, Nebraska. The company provides products and services that support students, families, schools, lenders and education-related organizations, with operations spanning student loan servicing, education payments, education technology and financial services.

Nelnet’s education services business provides servicing and technology for federal and private student loans, including account management, repayment support and borrower communications.