Nelnet (NYSE:NNI) Rating Lowered to Strong Sell at Zacks Research

Nelnet (NYSE:NNI) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Separately, Weiss Ratings upgraded Nelnet from a “hold (c)” rating to a “buy (b)” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $140.00.

Nelnet Trading Up 0.4%

Shares of NYSE NNI opened at $132.37 on Wednesday. The business’s 50 day moving average is $130.86 and its two-hundred day moving average is $132.05. The company has a debt-to-equity ratio of 2.14, a current ratio of 24.07 and a quick ratio of 24.07. Nelnet has a 1-year low of $116.62 and a 1-year high of $144.38. The stock has a market capitalization of $4.76 billion, a P/E ratio of 11.53 and a beta of 0.78.

Nelnet (NYSE:NNI) last posted its quarterly earnings data on Thursday, May 7th. The credit services provider reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.66 by ($0.72). The company had revenue of $419.06 million during the quarter, compared to the consensus estimate of $443.84 million. Nelnet had a net margin of 18.45% and a return on equity of 11.73%. As a group, research analysts expect that Nelnet will post 8.18 EPS for the current year.

Institutional Trading of Nelnet

Hedge funds have recently added to or reduced their stakes in the business. Rossby Financial LCC bought a new position in Nelnet during the 4th quarter worth about $27,000. Caitong International Asset Management Co. Ltd purchased a new position in Nelnet during the fourth quarter valued at approximately $31,000. Osaic Holdings Inc. increased its holdings in Nelnet by 170.3% during the second quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider’s stock valued at $45,000 after buying an additional 235 shares during the period. EverSource Wealth Advisors LLC raised its stake in Nelnet by 51.4% in the first quarter. EverSource Wealth Advisors LLC now owns 445 shares of the credit services provider’s stock worth $57,000 after buying an additional 151 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Nelnet in the fourth quarter worth approximately $59,000. 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.