Navient Corp. (NAVI) Short Interest Up 10.9% in November
Navient Corp. (NASDAQ:NAVI) was the target of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 20,802,192 shares, an increase of 10.9% from the October 31st total of 18,761,067 shares. Based on an average trading volume of 5,396,262 shares, the days-to-cover ratio is currently 3.9 days. Currently, 6.6% of the shares of the stock are sold short.
Navient Corp. (NASDAQ:NAVI) opened at 17.65 on Friday. The company has a market capitalization of $5.35 billion, a PE ratio of 7.24 and a beta of 2.37. Navient Corp. has a 52 week low of $8.20 and a 52 week high of $17.95. The stock’s 50 day moving average price is $14.80 and its 200-day moving average price is $13.83.
Navient Corp. (NASDAQ:NAVI) last released its earnings results on Tuesday, October 18th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Navient Corp. had a net margin of 16.31% and a return on equity of 16.50%. The company had revenue of $405 million for the quarter, compared to analysts’ expectations of $391.75 million. During the same quarter in the previous year, the company earned $0.47 EPS. Navient Corp.’s revenue for the quarter was down 12.0% on a year-over-year basis. On average, equities research analysts predict that Navient Corp. will post $1.83 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Wednesday, November 30th. Navient Corp.’s dividend payout ratio (DPR) is 26.34%.
Separately, Zacks Investment Research raised Navient Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, September 14th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Navient Corp. currently has an average rating of “Buy” and an average target price of $15.57.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NAVI. Thrivent Financial for Lutherans purchased a new position in Navient Corp. during the second quarter worth $121,000. Balasa Dinverno & Foltz LLC purchased a new position in Navient Corp. during the second quarter worth $122,000. IFP Advisors Inc boosted its position in Navient Corp. by 25.9% in the second quarter. IFP Advisors Inc now owns 10,844 shares of the company’s stock worth $130,000 after buying an additional 2,232 shares during the period. Private Advisor Group LLC purchased a new position in Navient Corp. during the second quarter worth $133,000. Finally, Toronto Dominion Bank boosted its position in Navient Corp. by 397.4% in the third quarter. Toronto Dominion Bank now owns 9,376 shares of the company’s stock worth $135,000 after buying an additional 7,491 shares during the period. Institutional investors own 88.54% of the company’s stock.
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About Navient Corp.
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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