Nelnet, Inc. (NYSE:NNI - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $122.72, but opened at $111.15. Nelnet shares last traded at $112.23, with a volume of 10,937 shares changing hands.
Analysts Set New Price Targets
Several brokerages have weighed in on NNI. StockNews.com downgraded shares of Nelnet from a "buy" rating to a "hold" rating in a report on Monday, August 12th. TD Cowen lifted their price target on shares of Nelnet from $96.00 to $98.00 and gave the company a "hold" rating in a report on Monday, August 12th.
Check Out Our Latest Analysis on Nelnet
Nelnet Price Performance
The company has a quick ratio of 33.51, a current ratio of 33.51 and a debt-to-equity ratio of 2.97. The firm has a market cap of $4.09 billion, a PE ratio of 26.96 and a beta of 0.92. The firm's fifty day simple moving average is $113.18 and its two-hundred day simple moving average is $107.72.
Nelnet (NYSE:NNI - Get Free Report) last released its earnings results on Thursday, August 8th. The credit services provider reported $1.20 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.13). Nelnet had a return on equity of 4.71% and a net margin of 7.44%. The company had revenue of $324.90 million during the quarter. As a group, research analysts expect that Nelnet, Inc. will post 5.82 EPS for the current year.
Nelnet Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Monday, December 2nd. Nelnet's dividend payout ratio (DPR) is presently 26.79%.
Hedge Funds Weigh In On Nelnet
Hedge funds have recently modified their holdings of the stock. Covestor Ltd lifted its holdings in shares of Nelnet by 139.2% in the first quarter. Covestor Ltd now owns 806 shares of the credit services provider's stock worth $76,000 after buying an additional 469 shares in the last quarter. Quest Partners LLC increased its position in Nelnet by 34,283.3% in the third quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider's stock worth $234,000 after purchasing an additional 2,057 shares during the last quarter. Security National Bank of Sioux City Iowa IA bought a new stake in Nelnet in the second quarter worth $212,000. SG Americas Securities LLC bought a new stake in Nelnet in the first quarter worth $209,000. Finally, ProShare Advisors LLC bought a new stake in Nelnet in the first quarter worth $220,000. Hedge funds and other institutional investors own 33.51% of the company's stock.
About Nelnet
(
Get Free Report)
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.
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