Short Interest in Nelnet, Inc. (NYSE:NNI) Rises By 17.9%

Nelnet, Inc. (NYSE:NNI - Get Free Report) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 280,800 shares, an increase of 17.9% from the March 15th total of 238,100 shares. Based on an average trading volume of 51,800 shares, the days-to-cover ratio is presently 5.4 days. Currently, 1.7% of the shares of the stock are short sold.

Institutional Investors Weigh In On Nelnet

Several institutional investors have recently made changes to their positions in the company. Christopher J. Hasenberg Inc purchased a new stake in Nelnet in the 4th quarter worth about $38,000. Blue Trust Inc. grew its stake in shares of Nelnet by 1,293.1% during the fourth quarter. Blue Trust Inc. now owns 404 shares of the credit services provider's stock valued at $46,000 after buying an additional 375 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Nelnet by 796.0% during the fourth quarter. Sterling Capital Management LLC now owns 448 shares of the credit services provider's stock valued at $48,000 after buying an additional 398 shares during the last quarter. FMR LLC lifted its stake in shares of Nelnet by 20.3% during the 3rd quarter. FMR LLC now owns 556 shares of the credit services provider's stock worth $63,000 after acquiring an additional 94 shares during the last quarter. Finally, Man Group plc purchased a new position in Nelnet during the 4th quarter valued at $202,000. Institutional investors own 33.51% of the company's stock.

Nelnet Price Performance

Shares of NYSE NNI traded down $1.36 during mid-day trading on Thursday, hitting $106.77. 54,452 shares of the company's stock traded hands, compared to its average volume of 60,421. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. Nelnet has a 1 year low of $93.59 and a 1 year high of $127.32. The company's 50-day moving average is $111.07 and its two-hundred day moving average is $110.33. The company has a market capitalization of $3.88 billion, a P/E ratio of 35.12 and a beta of 0.88.

Nelnet (NYSE:NNI - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The credit services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.21. The business had revenue of $401.61 million for the quarter, compared to the consensus estimate of $335.00 million. Nelnet had a return on equity of 3.78% and a net margin of 5.54%. On average, equities analysts anticipate that Nelnet will post 4.52 EPS for the current fiscal year.

Nelnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.05%. The ex-dividend date was Friday, February 28th. Nelnet's payout ratio is 22.40%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Nelnet from a "hold" rating to a "buy" rating in a report on Tuesday, March 4th.

About Nelnet

Nelnet, Inc engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing services.