Nelnet (NYSE:NNI) Sees Strong Trading Volume – Here’s Why

Shares of Nelnet, Inc. (NYSE:NNI) saw unusually-high trading volume on Wednesday . Approximately 73,835 shares traded hands during mid-day trading, a decline of 27% from the previous session’s volume of 101,257 shares.The stock last traded at $131.1690 and had previously closed at $131.23.

Analyst Ratings Changes

Several equities research analysts have issued reports on NNI shares. Zacks Research raised Nelnet from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. TD Cowen reiterated a “hold” rating on shares of Nelnet in a research report on Thursday, January 8th. Finally, Wall Street Zen downgraded Nelnet from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Nelnet Stock Performance

The company has a debt-to-equity ratio of 2.18, a quick ratio of 28.27 and a current ratio of 28.27. The company has a market cap of $4.68 billion, a PE ratio of 11.09 and a beta of 0.82. The business’s 50-day moving average is $132.25 and its 200 day moving average is $130.58.

Nelnet (NYSE:NNI) last posted its quarterly earnings results on Thursday, February 26th. The credit services provider reported $1.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.07). Nelnet had a net margin of 18.99% and a return on equity of 12.43%. The business had revenue of $390.43 million for the quarter, compared to analysts’ expectations of $382.00 million. On average, equities research analysts predict that Nelnet, Inc. will post 4.52 EPS for the current fiscal year.

Nelnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, February 27th. This represents a $1.32 annualized dividend and a yield of 1.0%. Nelnet’s dividend payout ratio is currently 11.21%.

Hedge Funds Weigh In On Nelnet

Large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new stake in Nelnet in the fourth quarter valued at approximately $31,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Nelnet in the fourth quarter worth approximately $210,000. Tudor Investment Corp ET AL grew its holdings in shares of Nelnet by 59.3% in the fourth quarter. Tudor Investment Corp ET AL now owns 23,209 shares of the credit services provider’s stock worth $3,086,000 after purchasing an additional 8,642 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its stake in shares of Nelnet by 415.0% in the fourth quarter. Susquehanna Fundamental Investments LLC now owns 14,375 shares of the credit services provider’s stock worth $1,911,000 after buying an additional 11,584 shares during the period. Finally, Engineers Gate Manager LP purchased a new position in shares of Nelnet in the fourth quarter worth $358,000. 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.