Bank of Montreal Can purchased a new position in Navient Co. (NASDAQ:NAVI – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 35,161 shares of the credit services provider’s stock, valued at approximately $667,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new stake in Navient in the second quarter worth $27,000. Quarry LP lifted its position in Navient by 299.1% during the first quarter. Quarry LP now owns 2,530 shares of the credit services provider’s stock valued at $40,000 after buying an additional 1,896 shares during the period. State of Wyoming purchased a new position in Navient during the fourth quarter valued at $62,000. Signaturefd LLC lifted its position in Navient by 33.0% during the second quarter. Signaturefd LLC now owns 4,498 shares of the credit services provider’s stock valued at $84,000 after buying an additional 1,116 shares during the period. Finally, Covestor Ltd lifted its position in Navient by 87.4% during the first quarter. Covestor Ltd now owns 5,042 shares of the credit services provider’s stock valued at $86,000 after buying an additional 2,352 shares during the period. Hedge funds and other institutional investors own 94.85% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have commented on the company. Compass Point lowered their price objective on Navient from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, August 1st. Citigroup lowered their price objective on Navient from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, October 26th. JPMorgan Chase & Co. lowered their price objective on Navient from $19.50 to $18.00 and set an “underweight” rating for the company in a research report on Tuesday, October 17th. Morgan Stanley reduced their price target on Navient from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Tuesday, October 3rd. Finally, Stephens reduced their price target on Navient from $20.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $17.41.
Navient Price Performance
NASDAQ NAVI opened at $17.26 on Wednesday. Navient Co. has a one year low of $14.10 and a one year high of $19.69. The stock has a 50-day moving average of $17.00 and a 200 day moving average of $17.30. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 6.14 and a beta of 1.55. The company has a debt-to-equity ratio of 18.95, a quick ratio of 12.81 and a current ratio of 12.81.
Navient (NASDAQ:NAVI – Get Free Report) last released its quarterly earnings data on Wednesday, October 25th. The credit services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. Navient had a return on equity of 14.61% and a net margin of 7.49%. The company had revenue of $280.00 million during the quarter, compared to the consensus estimate of $210.90 million. On average, sell-side analysts forecast that Navient Co. will post 3.44 EPS for the current year.
Insider Buying and Selling
In related news, EVP Mark L. Heleen sold 10,000 shares of Navient stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $16.99, for a total value of $169,900.00. Following the completion of the sale, the executive vice president now directly owns 395,330 shares in the company, valued at approximately $6,716,656.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 22.10% of the stock is owned by corporate insiders.
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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