Nelnet, Inc. (NYSE:NNI) Short Interest Update

Nelnet, Inc. (NYSE:NNI) was the recipient of a significant decline in short interest in June. As of June 15th, there was short interest totalling 265,100 shares, a decline of 13.9% from the May 31st total of 307,800 shares. Based on an average daily volume of 90,500 shares, the days-to-cover ratio is presently 2.9 days. Currently, 1.6% of the company’s stock are sold short.

Insider Buying and Selling at Nelnet

In other Nelnet news, Director Kathleen Anne Farrell sold 1,700 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $101.73, for a total value of $172,941.00. Following the transaction, the director now owns 16,894 shares in the company, valued at $1,718,626.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 50.10% of the company’s stock.

Institutional Investors Weigh In On Nelnet

Several large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Nelnet by 6.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,699 shares of the credit services provider’s stock valued at $729,000 after purchasing an additional 497 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Nelnet by 3.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 6,760 shares of the credit services provider’s stock valued at $640,000 after purchasing an additional 222 shares during the period. Covestor Ltd grew its stake in shares of Nelnet by 139.2% in the 1st quarter. Covestor Ltd now owns 806 shares of the credit services provider’s stock valued at $76,000 after purchasing an additional 469 shares during the period. Vanguard Group Inc. grew its stake in shares of Nelnet by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,313,570 shares of the credit services provider’s stock valued at $124,329,000 after purchasing an additional 3,485 shares during the period. Finally, ProShare Advisors LLC bought a new stake in shares of Nelnet in the 1st quarter valued at approximately $220,000. 33.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. StockNews.com upgraded Nelnet from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. TD Cowen upped their price target on Nelnet from $90.00 to $96.00 and gave the stock a “hold” rating in a research note on Tuesday, May 14th.

Nelnet Stock Performance

Shares of NYSE NNI traded up $1.98 during trading hours on Tuesday, hitting $102.79. 75,939 shares of the company’s stock were exchanged, compared to its average volume of 91,780. Nelnet has a 1-year low of $81.67 and a 1-year high of $110.70. The company has a debt-to-equity ratio of 3.25, a current ratio of 48.33 and a quick ratio of 48.33. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 27.78 and a beta of 0.91. The company’s 50-day moving average price is $101.34 and its 200-day moving average price is $93.35.

Nelnet (NYSE:NNI) last posted its quarterly earnings data on Thursday, May 9th. The credit services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.44. Nelnet had a return on equity of 4.17% and a net margin of 6.54%. The business had revenue of $579.96 million during the quarter. During the same period in the prior year, the firm posted $1.47 EPS. On average, sell-side analysts expect that Nelnet will post 6 earnings per share for the current fiscal year.

Nelnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.12 annualized dividend and a dividend yield of 1.09%. Nelnet’s dividend payout ratio is currently 30.27%.

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.