Zacks Research Upgrades Nelnet (NYSE:NNI) to “Strong-Buy”

Nelnet (NYSE:NNI) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research analysts have also recently commented on NNI. Cowen reaffirmed a “hold” rating on shares of Nelnet in a research note on Thursday, January 8th. Wall Street Zen downgraded Nelnet from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nelnet in a report on Wednesday, October 8th. Finally, TD Cowen raised their price target on Nelnet from $135.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $140.00.

Nelnet Trading Down 2.1%

Shares of NNI opened at $134.25 on Monday. The company’s fifty day simple moving average is $132.36 and its 200-day simple moving average is $128.41. The company has a market cap of $4.82 billion, a P/E ratio of 11.34 and a beta of 0.83. The company has a current ratio of 28.98, a quick ratio of 28.98 and a debt-to-equity ratio of 2.18. Nelnet has a twelve month low of $98.15 and a twelve month high of $142.87.

Nelnet (NYSE:NNI) last issued its quarterly earnings results on Thursday, November 6th. The credit services provider reported $2.95 EPS for the quarter, beating the consensus estimate of $1.52 by $1.43. The company had revenue of $427.76 million for the quarter, compared to the consensus estimate of $372.00 million. Nelnet had a net margin of 18.96% and a return on equity of 12.58%. As a group, analysts expect that Nelnet will post 4.52 EPS for the current year.

Insider Buying and Selling at Nelnet

In other news, Director Deun Jona M. Van sold 400 shares of Nelnet stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $128.95, for a total value of $51,580.00. Following the transaction, the director owned 704 shares of the company’s stock, valued at $90,780.80. The trade was a 36.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 50.90% of the company’s stock.

Hedge Funds Weigh In On Nelnet

Several institutional investors and hedge funds have recently bought and sold shares of NNI. SG Americas Securities LLC acquired a new stake in shares of Nelnet in the 4th quarter worth $1,594,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Nelnet by 19.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 797 shares of the credit services provider’s stock worth $109,000 after acquiring an additional 129 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Nelnet by 7.5% during the third quarter. JPMorgan Chase & Co. now owns 185,029 shares of the credit services provider’s stock valued at $23,199,000 after acquiring an additional 12,941 shares in the last quarter. Tudor Investment Corp ET AL raised its position in shares of Nelnet by 41.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 14,567 shares of the credit services provider’s stock valued at $1,826,000 after purchasing an additional 4,269 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in Nelnet by 0.6% in the 3rd quarter. Captrust Financial Advisors now owns 16,336 shares of the credit services provider’s stock worth $2,048,000 after purchasing an additional 94 shares in the last quarter. 33.51% of the stock is owned by hedge funds and other institutional investors.

Nelnet Company Profile

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.