Navient Co. (NASDAQ:NAVI – Get Free Report) was the target of some unusual options trading activity on Tuesday. Traders purchased 24,000 put options on the company. This represents an increase of 6,102% compared to the average volume of 387 put options.
Navient Price Performance
Navient stock opened at $17.36 on Wednesday. Navient has a 52 week low of $12.88 and a 52 week high of $19.69. The firm has a market cap of $2.11 billion, a P/E ratio of 5.97 and a beta of 1.58. The company has a debt-to-equity ratio of 19.43, a quick ratio of 12.78 and a current ratio of 12.78. The business’s fifty day moving average is $18.21 and its two-hundred day moving average is $17.11.
Navient (NASDAQ:NAVI – Get Free Report) last issued its quarterly earnings results on Wednesday, July 26th. The credit services provider reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.06). The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $228.53 million. Navient had a return on equity of 14.62% and a net margin of 8.51%. During the same quarter last year, the company earned $0.92 EPS. Equities research analysts forecast that Navient will post 3.37 earnings per share for the current fiscal year.
Navient Announces Dividend
Insider Activity at Navient
In other Navient news, EVP Mark L. Heleen sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $19.01, for a total value of $380,200.00. Following the sale, the executive vice president now owns 404,056 shares of the company’s stock, valued at approximately $7,681,104.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 26.93% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of NAVI. Virginia Retirement Systems ET AL acquired a new position in Navient during the 2nd quarter valued at about $2,035,000. Teachers Retirement System of The State of Kentucky lifted its position in Navient by 53.0% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 27,218 shares of the credit services provider’s stock valued at $506,000 after purchasing an additional 9,425 shares during the period. Wells Fargo & Company MN lifted its position in Navient by 62.8% during the 2nd quarter. Wells Fargo & Company MN now owns 66,953 shares of the credit services provider’s stock valued at $1,244,000 after purchasing an additional 25,821 shares during the period. Natixis Advisors L.P. lifted its position in Navient by 51.5% during the 2nd quarter. Natixis Advisors L.P. now owns 29,319 shares of the credit services provider’s stock valued at $545,000 after purchasing an additional 9,968 shares during the period. Finally, Caxton Associates LP lifted its stake in shares of Navient by 4.9% in the 2nd quarter. Caxton Associates LP now owns 40,144 shares of the credit services provider’s stock valued at $746,000 after purchasing an additional 1,888 shares during the period. Institutional investors and hedge funds own 94.85% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have issued reports on NAVI. StockNews.com began coverage on shares of Navient in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Citigroup lifted their price objective on Navient from $17.00 to $19.00 in a report on Friday, July 7th. Finally, Compass Point decreased their target price on shares of Navient from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $18.05.
Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing and asset recovery services on its own loan portfolio, as well as federal education loans held by other institutions.
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