Nelnet, Inc. $NNI Shares Purchased by First Trust Advisors LP

First Trust Advisors LP raised its position in Nelnet, Inc. (NYSE:NNI) by 41.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 24,300 shares of the credit services provider’s stock after purchasing an additional 7,118 shares during the period. First Trust Advisors LP’s holdings in Nelnet were worth $3,134,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Rossby Financial LCC purchased a new stake in shares of Nelnet during the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd purchased a new position in Nelnet in the fourth quarter valued at about $31,000. Osaic Holdings Inc. boosted its holdings in Nelnet by 170.3% in the second quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider’s stock valued at $45,000 after purchasing an additional 235 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Nelnet in the fourth quarter valued at about $59,000. Finally, State of Wyoming acquired a new stake in Nelnet during the 2nd quarter valued at approximately $62,000. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NNI has been the topic of several analyst reports. Zacks Research downgraded Nelnet from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nelnet in a research note on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Nelnet currently has a consensus rating of “Hold” and an average target price of $140.00.

Nelnet Stock Performance

Shares of Nelnet stock opened at $134.84 on Friday. The firm has a market cap of $4.85 billion, a PE ratio of 11.75 and a beta of 0.78. The firm’s 50-day simple moving average is $132.41 and its 200-day simple moving average is $131.89. The company has a debt-to-equity ratio of 2.14, a quick ratio of 24.07 and a current ratio of 24.07. Nelnet, Inc. has a 1 year low of $116.62 and a 1 year high of $144.38.

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 analysts’ consensus estimates of $2.13 by ($0.36). The firm had revenue of $410.01 million during the quarter, compared to analyst estimates of $419.92 million. Nelnet had a return on equity of 11.73% and a net margin of 18.45%. Equities analysts forecast that Nelnet, Inc. will post 8.18 earnings per share for the current fiscal year.

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.