Navient (NASDAQ:NAVI) Shares Gap Up - Time to Buy?

Navient Co. (NASDAQ:NAVI - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $15.14, but opened at $15.72. Navient shares last traded at $15.97, with a volume of 36,404 shares.

Analyst Upgrades and Downgrades

NAVI has been the subject of several analyst reports. Barclays increased their target price on Navient from $10.00 to $11.00 and gave the company an "underweight" rating in a report on Tuesday, October 8th. Bank of America initiated coverage on shares of Navient in a report on Monday, September 30th. They set a "neutral" rating and a $17.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Navient from $15.00 to $16.00 and gave the stock a "neutral" rating in a report on Monday, October 7th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Navient from $15.00 to $16.00 and gave the company a "market perform" rating in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $15.78.

Navient Trading Up 0.3 %

The company has a current ratio of 9.99, a quick ratio of 9.99 and a debt-to-equity ratio of 17.30. The company has a market cap of $1.66 billion, a PE ratio of 9.74 and a beta of 1.39. The stock has a 50 day moving average price of $15.65 and a 200 day moving average price of $15.31.

Navient Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $0.16 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.64 annualized dividend and a dividend yield of 4.21%. Navient's payout ratio is 41.03%.

Institutional Trading of Navient

Institutional investors and hedge funds have recently bought and sold shares of the company. Donald Smith & CO. Inc. boosted its stake in Navient by 27.8% during the 3rd quarter. Donald Smith & CO. Inc. now owns 3,581,311 shares of the credit services provider's stock valued at $55,833,000 after purchasing an additional 779,973 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in Navient in the 1st quarter worth about $4,813,000. Squarepoint Ops LLC purchased a new position in Navient in the 2nd quarter worth about $3,345,000. Edgestream Partners L.P. lifted its stake in Navient by 90.9% during the 1st quarter. Edgestream Partners L.P. now owns 386,379 shares of the credit services provider's stock valued at $6,723,000 after acquiring an additional 183,969 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Navient by 12.1% during the 2nd quarter. American Century Companies Inc. now owns 1,582,928 shares of the credit services provider's stock valued at $23,047,000 after acquiring an additional 171,160 shares during the last quarter. 97.14% of the stock is currently owned by institutional investors.

Navient Company Profile

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.