Navient Corp. (NAVI) Sees Significant Decrease in Short Interest
Navient Corp. (NASDAQ:NAVI) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totalling 15,636,222 shares, a decrease of 12.1% from the September 15th total of 17,793,922 shares. Based on an average trading volume of 3,698,247 shares, the short-interest ratio is currently 4.2 days. Currently, 5.0% of the company’s shares are short sold.
Shares of Navient Corp. (NASDAQ:NAVI) opened at 13.90 on Friday. The company has a 50-day moving average price of $14.21 and a 200 day moving average price of $13.35. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 5.90 and a beta of 2.31. Navient Corp. has a one year low of $8.20 and a one year high of $14.92.
Navient Corp. (NASDAQ:NAVI) last posted its earnings results on Tuesday, July 19th. The company reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.03. Navient Corp. had a net margin of 16.75% and a return on equity of 16.77%. On average, analysts forecast that Navient Corp. will post $1.88 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.60%. The ex-dividend date of this dividend is Wednesday, November 30th. Navient Corp.’s payout ratio is 27.47%.
In related news, Director William M. Diefenderfer III sold 16,300 shares of the stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $14.20, for a total transaction of $231,460.00. Following the transaction, the director now owns 88,737 shares of the company’s stock, valued at approximately $1,260,065.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bates Ann Torre sold 9,000 shares of the stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $14.23, for a total value of $128,070.00. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Magnetar Financial LLC acquired a new position in Navient Corp. during the first quarter valued at approximately $456,000. A.R.T. Advisors LLC acquired a new position in Navient Corp. during the first quarter valued at approximately $1,674,000. Envestnet Asset Management Inc. increased its position in Navient Corp. by 36.9% in the first quarter. Envestnet Asset Management Inc. now owns 156,871 shares of the company’s stock valued at $1,878,000 after buying an additional 42,295 shares during the last quarter. Legal & General Group Plc increased its position in Navient Corp. by 11.2% in the first quarter. Legal & General Group Plc now owns 1,817,596 shares of the company’s stock valued at $21,757,000 after buying an additional 182,611 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Navient Corp. by 13.3% in the first quarter. UBS Asset Management Americas Inc. now owns 1,016,737 shares of the company’s stock valued at $12,170,000 after buying an additional 119,151 shares during the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on the company. Zacks Investment Research raised Navient Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 20th. Goldman Sachs Group Inc. lowered Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research note on Wednesday, July 20th. Finally, BMO Capital Markets set a $17.00 target price on Navient Corp. and gave the stock a “hold” rating in a research note on Thursday, July 21st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Navient Corp. presently has an average rating of “Buy” and an average target price of $15.57.
Navient Corp. Company Profile
Navient Corporation is a loan management, servicing and asset recovery company. The Company holds the portfolio of education loans insured or guaranteed under the Federal Family Education Loan Program (FFELP), as well as the portfolio of Private Education Loans. FFELP Loans are insured or guaranteed by state based on guaranty agreements among the United States Department of Education (ED) and these agencies.
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