Nelnet (NYSE:NNI - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Saturday.
Nelnet Price Performance
Shares of NYSE NNI traded down $0.35 during midday trading on Friday, reaching $111.39. 46,778 shares of the stock traded hands, compared to its average volume of 38,816. The company's 50 day moving average is $108.89 and its 200 day moving average is $110.56. Nelnet has a one year low of $83.75 and a one year high of $127.32. The stock has a market capitalization of $4.04 billion, a PE ratio of 36.64 and a beta of 0.91. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47.
Institutional Trading of Nelnet
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NNI. Proficio Capital Partners LLC boosted its position in Nelnet by 16,773.6% in the 4th quarter. Proficio Capital Partners LLC now owns 482,247 shares of the credit services provider's stock valued at $482,000 after buying an additional 479,389 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Nelnet by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 1,347,756 shares of the credit services provider's stock valued at $143,954,000 after purchasing an additional 99,885 shares during the period. Sycale Advisors NY LLC grew its stake in Nelnet by 26.7% in the fourth quarter. Sycale Advisors NY LLC now owns 258,038 shares of the credit services provider's stock worth $27,561,000 after purchasing an additional 54,380 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Nelnet by 30.7% during the 4th quarter. JPMorgan Chase & Co. now owns 172,480 shares of the credit services provider's stock worth $18,423,000 after purchasing an additional 40,476 shares during the period. Finally, Western Standard LLC bought a new stake in Nelnet during the 4th quarter valued at $2,614,000. 33.51% of the stock is owned by hedge funds and other institutional investors.
About Nelnet
(
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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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