Nelnet (NYSE:NNI) Stock Breaks Above 200 Day Moving Average – Time to Sell?

Nelnet, Inc. (NYSE:NNI)’s stock price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $129.96 and traded as high as $132.01. Nelnet shares last traded at $130.30, with a volume of 197,170 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NNI. TD Cowen decreased their target price on Nelnet from $130.00 to $125.00 and set a “hold” rating for the company in a research note on Tuesday, October 6th. Weiss Ratings lowered shares of Nelnet from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $125.00.

Nelnet Trading Up 2.6%

The company has a debt-to-equity ratio of 1.94, a current ratio of 15.89 and a quick ratio of 15.89. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 17.26 and a beta of 0.78. The business has a fifty day moving average of $125.45 and a 200-day moving average of $129.96.

Nelnet (NYSE:NNI) last released its earnings results on Thursday, November 5th. The credit services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.06. The business had revenue of $436.59 million for the quarter, compared to the consensus estimate of $427.37 million. Nelnet had a net margin of 12.93% and a return on equity of 7.15%. On average, equities analysts anticipate that Nelnet, Inc. will post 7.42 earnings per share for the current fiscal year.

Nelnet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.36 per share. This is a positive change from Nelnet’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, December 1st. Nelnet’s dividend payout ratio is presently 15.79%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NNI. Ameritas Advisory Services LLC acquired a new stake in shares of Nelnet during the 2nd quarter valued at about $33,000. Integrated Wealth Concepts LLC bought a new stake in Nelnet in the second quarter worth $38,000. EverSource Wealth Advisors LLC increased its position in Nelnet by 51.4% during the first quarter. EverSource Wealth Advisors LLC now owns 445 shares of the credit services provider’s stock worth $57,000 after buying an additional 151 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Nelnet by 144.2% in the 2nd quarter. Versant Capital Management Inc now owns 591 shares of the credit services provider’s stock worth $79,000 after purchasing an additional 349 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Nelnet by 424.6% in the 3rd quarter. Signaturefd LLC now owns 960 shares of the credit services provider’s stock worth $118,000 after purchasing an additional 777 shares during the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

Nelnet Company Profile

Nelnet, Inc is a diversified education, technology and communications company headquartered in Lincoln, Nebraska. Its businesses provide services to colleges, universities, schools, students, borrowers and businesses, with a focus on simplifying education-related payments, administration and technology.

The company’s activities include student loan servicing and asset management, tuition payment processing, education technology, school administration solutions and communications services.