Navient Corporation (NAVI) Downgraded by Compass Point
Navient Corporation (NASDAQ:NAVI) was downgraded by equities researchers at Compass Point from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday.
A number of other research analysts have also recently commented on the company. Zacks Investment Research cut Navient Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Credit Suisse Group raised Navient Corporation from a “neutral” rating to an “outperform” rating and set a $16.50 price target on the stock in a report on Friday, September 8th. BidaskClub raised Navient Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Jefferies Group LLC reissued a “buy” rating on shares of Navient Corporation in a report on Monday, June 12th. Finally, ValuEngine raised Navient Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, June 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $18.40.
Navient Corporation (NASDAQ:NAVI) opened at 14.70 on Thursday. The company has a 50 day moving average of $14.07 and a 200 day moving average of $14.80. Navient Corporation has a 52-week low of $12.66 and a 52-week high of $17.95. The company has a market capitalization of $4.03 billion, a PE ratio of 7.62 and a beta of 2.48.
Navient Corporation (NASDAQ:NAVI) last posted its quarterly earnings results on Tuesday, July 18th. The credit services provider reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.02. Navient Corporation had a return on equity of 14.05% and a net margin of 11.50%. The company had revenue of $343.00 million for the quarter, compared to analysts’ expectations of $331.67 million. During the same period in the previous year, the firm earned $0.47 EPS. The firm’s revenue was down 15.9% compared to the same quarter last year. On average, equities research analysts forecast that Navient Corporation will post $1.76 earnings per share for the current fiscal year.
In other news, EVP John M. Kane sold 28,886 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $15.00, for a total transaction of $433,290.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.68% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning increased its position in shares of Navient Corporation by 7.2% during the 2nd quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock valued at $118,000 after purchasing an additional 472 shares during the last quarter. Ffcm LLC increased its position in shares of Navient Corporation by 144.5% during the 2nd quarter. Ffcm LLC now owns 7,071 shares of the credit services provider’s stock valued at $119,000 after purchasing an additional 4,179 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of Navient Corporation by 8.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 7,564 shares of the credit services provider’s stock valued at $126,000 after purchasing an additional 612 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Navient Corporation during the 1st quarter valued at approximately $112,000. Finally, Grove Bank & Trust increased its position in shares of Navient Corporation by 33.3% during the 2nd quarter. Grove Bank & Trust now owns 9,280 shares of the credit services provider’s stock valued at $154,000 after purchasing an additional 2,320 shares during the last quarter. 93.02% of the stock is currently owned by institutional investors and hedge funds.
About Navient Corporation
Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).
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