Nelnet (NYSE:NNI) Sees Unusually-High Trading Volume – What’s Next?

Nelnet, Inc. (NYSE:NNI) saw unusually-high trading volume on Tuesday . Approximately 87,722 shares traded hands during trading, a decline of 29% from the previous session’s volume of 123,348 shares.The stock last traded at $127.7370 and had previously closed at $129.09.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Zacks Research upgraded Nelnet from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. TD Cowen reiterated a “hold” rating on shares of Nelnet in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Nelnet Stock Performance

The business has a 50 day moving average of $130.43 and a 200-day moving average of $130.70. The company has a market capitalization of $4.60 billion, a P/E ratio of 10.90 and a beta of 0.81. The company has a debt-to-equity ratio of 2.18, a quick ratio of 28.27 and a current ratio of 28.27.

Nelnet (NYSE:NNI) last posted its earnings results on Thursday, February 26th. The credit services provider reported $1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.07). Nelnet had a net margin of 18.99% and a return on equity of 12.43%. The company had revenue of $392.76 million for the quarter, compared to analysts’ expectations of $382.00 million. On average, sell-side analysts predict that Nelnet, Inc. will post 4.52 EPS for the current fiscal year.

Nelnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.32 annualized dividend and a yield of 1.0%. Nelnet’s payout ratio is currently 11.21%.

Institutional Trading of Nelnet

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rossby Financial LCC bought a new position in Nelnet in the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Nelnet in the fourth quarter worth $31,000. Osaic Holdings Inc. raised its position in shares of Nelnet by 170.3% in the second quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider’s stock worth $45,000 after buying an additional 235 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Nelnet by 189.8% during the third quarter. Smartleaf Asset Management LLC now owns 368 shares of the credit services provider’s stock valued at $46,000 after buying an additional 241 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in Nelnet during the fourth quarter valued at $59,000. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

Nelnet Company Profile

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.