Navient Corp. (NAVI) Bond Prices Rise 1%
An issue of Navient Corp. (NASDAQ:NAVI) debt rose 1% as a percentage of its face value during trading on Monday. The high-yield debt issue has a 6.625% coupon and is set to mature on July 26, 2021. The bonds in the issue are now trading at $103.25 and were trading at $101.75 last week. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.
Separately, Zacks Investment Research raised Navient Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, September 20th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $15.57.
Navient Corp. (NASDAQ:NAVI) traded up 0.57% during midday trading on Monday, reaching $17.72. The company had a trading volume of 2,553,045 shares. Navient Corp. has a 52 week low of $8.20 and a 52 week high of $17.86. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of 7.27 and a beta of 2.37. The firm has a 50-day moving average price of $14.54 and a 200-day moving average price of $13.74.
Navient Corp. (NASDAQ:NAVI) last posted its quarterly earnings data on Tuesday, October 18th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm earned $405 million during the quarter, compared to analyst estimates of $391.75 million. Navient Corp. had a return on equity of 16.50% and a net margin of 16.31%. Navient Corp.’s revenue was down 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 EPS. Analysts expect that Navient Corp. will post $1.83 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be paid a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 3.61%. Navient Corp.’s dividend payout ratio (DPR) is 26.34%.
Several large investors have recently bought and sold shares of NAVI. Brookstone Capital Management raised its stake in Navient Corp. by 18.9% in the second quarter. Brookstone Capital Management now owns 293,947 shares of the company’s stock valued at $3,513,000 after buying an additional 46,702 shares during the period. Fox Run Management L.L.C. bought a new stake in Navient Corp. during the second quarter valued at approximately $172,000. Nisa Investment Advisors LLC raised its stake in Navient Corp. by 25.4% in the second quarter. Nisa Investment Advisors LLC now owns 101,643 shares of the company’s stock valued at $1,215,000 after buying an additional 20,580 shares during the period. Visionary Asset Management Inc. raised its stake in Navient Corp. by 2.2% in the second quarter. Visionary Asset Management Inc. now owns 220,437 shares of the company’s stock valued at $2,630,000 after buying an additional 4,655 shares during the period. Finally, Denali Advisors LLC raised its stake in Navient Corp. by 1.2% in the second quarter. Denali Advisors LLC now owns 431,600 shares of the company’s stock valued at $5,158,000 after buying an additional 5,100 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.
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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