Stock Traders Purchase Large Volume of Navient Put Options (NASDAQ:NAVI)

Navient Co. (NASDAQ:NAVIGet Rating) saw some unusual options trading on Tuesday. Traders acquired 28,011 put options on the stock. This is an increase of 4,236% compared to the typical volume of 646 put options.

Insider Activity

In related news, EVP John M. Kane sold 17,006 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $16.56, for a total value of $281,619.36. Following the completion of the transaction, the executive vice president now directly owns 607,303 shares of the company’s stock, valued at $10,056,937.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Navient

Several hedge funds have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH boosted its holdings in Navient by 22.9% in the first quarter. Allianz Asset Management GmbH now owns 2,641,958 shares of the credit services provider’s stock valued at $45,019,000 after acquiring an additional 491,644 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Navient by 103.9% in the second quarter. AQR Capital Management LLC now owns 2,033,937 shares of the credit services provider’s stock valued at $27,967,000 after acquiring an additional 1,036,333 shares during the last quarter. Donald Smith & CO. Inc. boosted its holdings in Navient by 5.1% in the second quarter. Donald Smith & CO. Inc. now owns 1,038,565 shares of the credit services provider’s stock valued at $14,530,000 after acquiring an additional 50,231 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Navient by 30.7% in the second quarter. Victory Capital Management Inc. now owns 939,686 shares of the credit services provider’s stock valued at $13,146,000 after acquiring an additional 220,880 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in Navient by 112.2% in the third quarter. Nuveen Asset Management LLC now owns 904,972 shares of the credit services provider’s stock valued at $13,294,000 after acquiring an additional 478,474 shares during the last quarter. Institutional investors own 70.48% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on NAVI shares. Jefferies Financial Group dropped their price objective on Navient from $24.00 to $18.00 in a research note on Tuesday, October 18th. Barclays increased their price objective on Navient from $16.00 to $19.00 in a research note on Friday, January 6th. Citigroup dropped their price objective on Navient from $18.00 to $15.00 in a research note on Thursday, October 13th. StockNews.com upgraded Navient from a “hold” rating to a “buy” rating in a research note on Tuesday, November 8th. Finally, Morgan Stanley upgraded Navient from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $14.00 to $16.00 in a research note on Thursday, December 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $16.06.

Navient Stock Performance

Shares of NASDAQ:NAVI opened at $17.38 on Wednesday. Navient has a twelve month low of $12.45 and a twelve month high of $19.39. The firm has a market cap of $2.36 billion, a PE ratio of 4.87 and a beta of 1.52. The company has a debt-to-equity ratio of 21.53, a quick ratio of 12.32 and a current ratio of 12.32. The business has a fifty day moving average of $16.68 and a 200-day moving average of $15.77.

Navient (NASDAQ:NAVIGet Rating) last announced its earnings results on Tuesday, October 25th. The credit services provider reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Navient had a net margin of 15.08% and a return on equity of 10.97%. The business had revenue of $247.00 million during the quarter, compared to analyst estimates of $279.19 million. On average, equities research analysts predict that Navient will post 3.39 EPS for the current fiscal year.

Navient Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Friday, December 2nd were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, December 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.68%. Navient’s dividend payout ratio (DPR) is presently 17.93%.

Navient Company Profile

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Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing.

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