Navient Corp. (NAVI) Debt Trading 0.5% Lower
An issue of Navient Corp. (NASDAQ:NAVI) debt fell 0.5% against its face value during trading on Monday. The high-yield issue of debt has a 5% coupon and will mature on October 26, 2020. The bonds in the issue are now trading at $101.63 and were trading at $101.81 one week ago. Price moves in a company’s debt in credit markets often predict parallel moves in its stock price.
Separately, Zacks Investment Research upgraded Navient Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, September 20th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $15.57.
Shares of Navient Corp. (NASDAQ:NAVI) traded down 0.91% during trading on Monday, reaching $17.49. The company’s stock had a trading volume of 2,307,344 shares. The company has a market capitalization of $5.30 billion, a P/E ratio of 7.18 and a beta of 2.37. Navient Corp. has a 12 month low of $8.20 and a 12 month high of $17.95. The company’s 50-day moving average is $14.80 and its 200-day moving average 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, topping analysts’ consensus estimates of $0.48 by $0.02. Navient Corp. had a return on equity of 16.50% and a net margin of 16.31%. The business had revenue of $405 million for the quarter, compared to the consensus estimate of $391.75 million. During the same period last year, the business earned $0.47 earnings per share. The firm’s revenue for the quarter was down 12.0% compared to the same quarter last year. On average, analysts forecast 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. Shareholders of record on Friday, December 2nd will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Wednesday, November 30th. Navient Corp.’s payout ratio is 26.34%.
A number of large investors have recently added to or reduced their stakes in NAVI. Legal & General Group Plc increased its stake 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 worth $21,757,000 after buying an additional 182,611 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Navient Corp. by 36.9% in the first quarter. Envestnet Asset Management Inc. now owns 156,871 shares of the company’s stock worth $1,878,000 after buying an additional 42,295 shares during the last quarter. Squarepoint Ops LLC increased its stake in Navient Corp. by 172.1% in the first quarter. Squarepoint Ops LLC now owns 99,875 shares of the company’s stock worth $1,196,000 after buying an additional 63,168 shares during the last quarter. Exxonmobil Investment Management Inc. TX increased its stake in Navient Corp. by 2.5% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 85,554 shares of the company’s stock worth $1,022,000 after buying an additional 2,086 shares during the last quarter. Finally, Atria Investments LLC bought a new stake in Navient Corp. during the second quarter worth $593,000. 94.08% of the stock is currently owned by institutional investors.
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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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