Nelnet, Inc. (NYSE:NNI) Short Interest Update

Nelnet, Inc. (NYSE:NNIGet Rating) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 233,200 shares, a decrease of 29.3% from the March 15th total of 329,800 shares. Based on an average daily trading volume, of 89,000 shares, the short-interest ratio is currently 2.6 days. Approximately 1.7% of the shares of the stock are short sold.

Several equities research analysts have recently weighed in on the company. StockNews.com assumed coverage on Nelnet in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Credit Suisse Group decreased their price objective on shares of Nelnet from $96.00 to $92.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 2nd.

In other news, insider William J. Munn sold 500 shares of the company’s stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $84.60, for a total transaction of $42,300.00. Following the sale, the insider now directly owns 21,771 shares in the company, valued at $1,841,826.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 44.97% of the company’s stock.

Several institutional investors have recently bought and sold shares of NNI. Amundi Pioneer Asset Management Inc. raised its position in shares of Nelnet by 147.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 12,135 shares of the credit services provider’s stock valued at $669,000 after buying an additional 7,235 shares in the last quarter. Morgan Stanley raised its position in Nelnet by 20.8% in the 2nd quarter. Morgan Stanley now owns 46,556 shares of the credit services provider’s stock worth $3,503,000 after purchasing an additional 8,028 shares during the period. WINTON GROUP Ltd raised its position in Nelnet by 33.6% in the 3rd quarter. WINTON GROUP Ltd now owns 7,246 shares of the credit services provider’s stock worth $574,000 after purchasing an additional 1,823 shares during the period. SG Americas Securities LLC purchased a new position in Nelnet in the 3rd quarter worth $849,000. Finally, Deutsche Bank AG raised its position in Nelnet by 15.9% in the 3rd quarter. Deutsche Bank AG now owns 13,850 shares of the credit services provider’s stock worth $1,098,000 after purchasing an additional 1,896 shares during the period.

Shares of Nelnet stock traded down $0.34 on Friday, hitting $85.11. 47,079 shares of the company traded hands, compared to its average volume of 84,628. The firm’s 50-day simple moving average is $83.54 and its 200 day simple moving average is $87.05. The company has a current ratio of 57.43, a quick ratio of 57.43 and a debt-to-equity ratio of 5.97. The company has a market cap of $3.22 billion, a P/E ratio of 8.34 and a beta of 0.73. Nelnet has a 12-month low of $72.00 and a 12-month high of $99.79.

Nelnet (NYSE:NNIGet Rating) last posted its quarterly earnings data on Monday, February 28th. The credit services provider reported $2.50 earnings per share for the quarter. The firm had revenue of $394.49 million for the quarter. Nelnet had a net margin of 26.20% and a return on equity of 11.34%.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Tuesday, March 1st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, February 28th. Nelnet’s dividend payout ratio (DPR) is currently 9.41%.

Nelnet Company Profile (Get Rating)

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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