First Trust Advisors LP Cuts Holdings in Nelnet, Inc. (NYSE:NNI)

First Trust Advisors LP lessened its position in shares of Nelnet, Inc. (NYSE:NNI) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,868 shares of the credit services provider’s stock after selling 400 shares during the period. First Trust Advisors LP’s holdings in Nelnet were worth $1,374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc purchased a new stake in shares of Nelnet during the 4th quarter worth about $38,000. Blue Trust Inc. lifted its position in Nelnet by 1,293.1% during the fourth quarter. Blue Trust Inc. now owns 404 shares of the credit services provider’s stock valued at $46,000 after buying an additional 375 shares in the last quarter. Sterling Capital Management LLC grew its stake in Nelnet by 796.0% during the fourth quarter. Sterling Capital Management LLC now owns 448 shares of the credit services provider’s stock worth $48,000 after buying an additional 398 shares during the period. Venator Management LLC acquired a new stake in shares of Nelnet in the fourth quarter worth $214,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Nelnet during the 4th quarter valued at $223,000. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Nelnet Stock Performance

Shares of NYSE:NNI opened at $105.69 on Wednesday. The company has a market cap of $3.84 billion, a P/E ratio of 34.77 and a beta of 0.93. Nelnet, Inc. has a one year low of $95.60 and a one year high of $127.32. The business’s 50-day simple moving average is $110.02 and its 200 day simple moving average is $109.91. The company has a debt-to-equity ratio of 2.78, a quick ratio of 31.47 and a current ratio of 31.47.

Nelnet (NYSE:NNI) last posted its earnings results on Thursday, February 27th. The credit services provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.21. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. The business had revenue of $401.61 million for the quarter, compared to analysts’ expectations of $335.00 million. On average, sell-side analysts forecast that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Nelnet from a “hold” rating to a “buy” rating in a report on Tuesday, March 4th.

Nelnet Profile

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.