Oregon Public Employees Retirement Fund Reduces Position in Navient Corp (NASDAQ:NAVI)

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Oregon Public Employees Retirement Fund lessened its holdings in shares of Navient Corp (NASDAQ:NAVI) by 7.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,672 shares of the credit services provider’s stock after selling 5,200 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Navient were worth $476,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Parkside Financial Bank & Trust boosted its position in shares of Navient by 38.1% during the first quarter. Parkside Financial Bank & Trust now owns 4,887 shares of the credit services provider’s stock valued at $37,000 after buying an additional 1,347 shares during the period. CWM Advisors LLC purchased a new stake in shares of Navient in the first quarter valued at approximately $37,000. Signaturefd LLC boosted its holdings in shares of Navient by 477.6% in the first quarter. Signaturefd LLC now owns 5,995 shares of the credit services provider’s stock valued at $45,000 after purchasing an additional 4,957 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of Navient in the first quarter valued at approximately $74,000. Finally, Balyasny Asset Management LLC purchased a new stake in shares of Navient in the first quarter valued at approximately $80,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Shares of NASDAQ:NAVI opened at $7.96 on Friday. The firm has a 50 day moving average of $7.44 and a 200 day moving average of $9.22. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 5.24 and a beta of 1.87. The company has a quick ratio of 10.48, a current ratio of 11.82 and a debt-to-equity ratio of 37.75. Navient Corp has a 52 week low of $4.07 and a 52 week high of $15.50.

Navient (NASDAQ:NAVI) last issued its quarterly earnings results on Tuesday, July 21st. The credit services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.45. The business had revenue of $329.00 million for the quarter, compared to the consensus estimate of $284.50 million. Navient had a return on equity of 21.05% and a net margin of 7.38%. On average, sell-side analysts expect that Navient Corp will post 2.49 EPS for the current year.

In other Navient news, Director Frederick Arnold purchased 6,500 shares of Navient stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average cost of $6.66 per share, with a total value of $43,290.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark L. Heleen bought 7,250 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was purchased at an average cost of $6.77 per share, for a total transaction of $49,082.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 16,750 shares of company stock worth $115,143. Insiders own 1.85% of the company’s stock.

NAVI has been the subject of a number of research reports. Credit Suisse Group reiterated a “hold” rating and issued a $11.00 price target on shares of Navient in a report on Thursday, April 23rd. Wedbush lowered their price target on Navient from $18.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, May 20th. Stephens upgraded Navient from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $17.00 to $12.00 in a report on Thursday, April 9th. BidaskClub upgraded Navient from a “sell” rating to a “hold” rating in a report on Friday, July 24th. Finally, Zacks Investment Research raised shares of Navient from a “strong sell” rating to a “hold” rating and set a $8.50 price objective for the company in a research note on Monday, July 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.07.

Navient Company Profile

Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates in three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company holds and acquires Federal Family Education Loan Program loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing and asset recovery services on its own loan portfolio, and federal education loans owned by the United States Department of Education and other institutions.

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Institutional Ownership by Quarter for Navient (NASDAQ:NAVI)

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