Nelnet (NYSE:NNI) Shares Cross Above 200 Day Moving Average - Time to Sell?

Nelnet, Inc. (NYSE:NNI - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $106.20 and traded as high as $113.90. Nelnet shares last traded at $112.34, with a volume of 35,591 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have commented on NNI shares. StockNews.com cut shares of Nelnet from a "buy" rating to a "hold" rating in a research report on Monday, August 12th. TD Cowen upped their price target on shares of Nelnet from $96.00 to $98.00 and gave the company a "hold" rating in a research note on Monday, August 12th.

Nelnet Stock Performance

The stock's fifty day moving average price is $112.40 and its two-hundred day moving average price is $106.28. The company has a debt-to-equity ratio of 2.97, a quick ratio of 33.51 and a current ratio of 33.51. The company has a market cap of $4.07 billion, a P/E ratio of 26.88 and a beta of 0.92.

Nelnet (NYSE:NNI - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The credit services provider reported $1.20 earnings per share for the quarter, missing analysts' consensus estimates of $1.33 by ($0.13). Nelnet had a return on equity of 4.71% and a net margin of 7.44%. The firm had revenue of $324.90 million for the quarter. As a group, equities analysts predict that Nelnet, Inc. will post 5.82 earnings per share for the current year.

Nelnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Friday, August 30th. Nelnet's payout ratio is 26.79%.

Hedge Funds Weigh In On Nelnet

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NorthCrest Asset Manangement LLC acquired a new position in Nelnet in the 3rd quarter valued at approximately $865,000. Creative Planning lifted its position in shares of Nelnet by 7.0% during the third quarter. Creative Planning now owns 4,758 shares of the credit services provider's stock valued at $539,000 after purchasing an additional 310 shares in the last quarter. Inspire Investing LLC lifted its position in shares of Nelnet by 5.0% during the third quarter. Inspire Investing LLC now owns 3,662 shares of the credit services provider's stock valued at $415,000 after purchasing an additional 175 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Nelnet during the third quarter worth about $499,000. Finally, Cubist Systematic Strategies LLC increased its holdings in Nelnet by 297.1% during the second quarter. Cubist Systematic Strategies LLC now owns 6,881 shares of the credit services provider's stock worth $694,000 after buying an additional 5,148 shares during the last quarter. Institutional investors own 33.51% of the company's stock.

Nelnet Company Profile

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.