Nelnet, Inc. (NYSE:NNI) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its holdings in shares of Nelnet, Inc. (NYSE:NNI) by 66.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,300 shares of the credit services provider’s stock after selling 8,600 shares during the period. Renaissance Technologies LLC’s holdings in Nelnet were worth $459,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in Nelnet by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 1,347,756 shares of the credit services provider’s stock valued at $143,954,000 after purchasing an additional 99,885 shares during the period. Farmers & Merchants Investments Inc. boosted its stake in shares of Nelnet by 0.5% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,187,527 shares of the credit services provider’s stock worth $126,840,000 after buying an additional 5,708 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in Nelnet by 16,773.6% during the fourth quarter. Proficio Capital Partners LLC now owns 482,247 shares of the credit services provider’s stock worth $482,000 after acquiring an additional 479,389 shares during the period. Geode Capital Management LLC raised its position in Nelnet by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 361,553 shares of the credit services provider’s stock valued at $38,627,000 after acquiring an additional 1,060 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Nelnet by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 201,969 shares of the credit services provider’s stock valued at $21,572,000 after acquiring an additional 2,778 shares during the period. 33.51% of the stock is owned by hedge funds and other institutional investors.

Nelnet Trading Up 2.3 %

Shares of Nelnet stock opened at $108.15 on Friday. Nelnet, Inc. has a fifty-two week low of $95.60 and a fifty-two week high of $127.32. The company has a debt-to-equity ratio of 2.78, a quick ratio of 31.47 and a current ratio of 31.47. The company has a market cap of $3.93 billion, a P/E ratio of 35.58 and a beta of 0.88. The firm has a 50-day simple moving average of $110.24 and a two-hundred day simple moving average of $110.03.

Nelnet (NYSE:NNI) last issued its quarterly earnings results on Thursday, February 27th. The credit services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.21. The company had revenue of $401.61 million for the quarter, compared to the consensus estimate of $335.00 million. Nelnet had a return on equity of 3.78% and a net margin of 5.54%. As a group, equities analysts predict that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Nelnet from a “hold” rating to a “buy” rating in a research note on Tuesday, March 4th.

About Nelnet

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.