Caxton Associates LLP Increases Holdings in Navient Corporation $NAVI

Caxton Associates LLP increased its position in Navient Corporation (NASDAQ:NAVI) by 38.3% during the 1st quarter, Holdings Channel reports. The firm owned 222,396 shares of the credit services provider’s stock after acquiring an additional 61,589 shares during the quarter. Caxton Associates LLP’s holdings in Navient were worth $1,819,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NAVI. Orbis Allan Gray Ltd raised its position in Navient by 23.2% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,848,718 shares of the credit services provider’s stock valued at $40,167,000 after purchasing an additional 536,933 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Navient by 37.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,543,796 shares of the credit services provider’s stock worth $20,069,000 after buying an additional 423,381 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Navient by 20.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,484,742 shares of the credit services provider’s stock worth $32,302,000 after buying an additional 418,161 shares in the last quarter. Millennium Management LLC grew its position in shares of Navient by 70.0% during the 3rd quarter. Millennium Management LLC now owns 888,186 shares of the credit services provider’s stock worth $11,680,000 after buying an additional 365,677 shares in the last quarter. Finally, Arbiter Partners Capital Management LLC increased its stake in shares of Navient by 230.5% during the first quarter. Arbiter Partners Capital Management LLC now owns 512,548 shares of the credit services provider’s stock valued at $4,193,000 after buying an additional 357,454 shares during the period. 97.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NAVI shares. Weiss Ratings restated a “sell (d)” rating on shares of Navient in a report on Wednesday, June 24th. Morgan Stanley dropped their target price on shares of Navient from $12.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, April 16th. Zacks Research raised shares of Navient from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Barclays boosted their price target on shares of Navient from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Finally, Bank of America assumed coverage on shares of Navient in a research report on Monday, April 20th. They issued an “underperform” rating and a $7.00 price target for the company. Five analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $9.14.

Navient Stock Down 2.5%

Shares of NASDAQ NAVI opened at $8.23 on Friday. Navient Corporation has a 12-month low of $7.33 and a 12-month high of $14.20. The stock’s fifty day simple moving average is $8.28 and its two-hundred day simple moving average is $9.04. The stock has a market capitalization of $773.54 million, a PE ratio of -13.06 and a beta of 1.19. The company has a current ratio of 7.67, a quick ratio of 7.67 and a debt-to-equity ratio of 16.49.

Navient (NASDAQ:NAVI) last released its quarterly earnings results on Tuesday, April 28th. The credit services provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. The firm had revenue of $152.00 million during the quarter, compared to analyst estimates of $141.47 million. Navient had a positive return on equity of 4.39% and a negative net margin of 1.94%.During the same period in the previous year, the company posted $0.25 EPS. As a group, analysts expect that Navient Corporation will post 0.71 EPS for the current fiscal year.

Navient Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, June 5th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 7.8%. The ex-dividend date was Friday, June 5th. Navient’s payout ratio is -101.59%.

Navient Profile

Navient Corporation (NASDAQ: NAVI) is a specialized provider of asset management and business processing solutions, with a primary focus on student loan servicing. Established in 2014 through the separation from Sallie Mae, Navient assumed responsibility for servicing federal and private education loans, positioning itself as one of the largest servicers of higher education debt in the United States.

The company’s core activities center on federal student loan servicing under contracts with the U.S.