TD Cowen Issues Positive Forecast for Nelnet (NYSE:NNI) Stock Price

Nelnet (NYSE:NNI) had its price objective increased by TD Cowen from $135.00 to $140.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the credit services provider’s stock. TD Cowen’s price target would suggest a potential downside of 0.61% from the company’s current price.

Several other analysts have also recently commented on NNI. Wall Street Zen cut shares of Nelnet from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Nelnet in a research report on Wednesday, October 8th. Finally, Cowen reiterated a “hold” rating on shares of Nelnet in a research report on Thursday. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $140.00.

Nelnet Price Performance

NNI stock traded up $5.76 during midday trading on Thursday, hitting $140.86. The company’s stock had a trading volume of 67,713 shares, compared to its average volume of 125,353. Nelnet has a 12 month low of $98.15 and a 12 month high of $141.41. The company has a quick ratio of 28.98, a current ratio of 28.98 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 11.84 and a beta of 0.83. The company has a 50 day moving average of $131.62 and a two-hundred day moving average of $127.81.

Nelnet (NYSE:NNI) last released its quarterly earnings data on Thursday, November 6th. The credit services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $1.43. Nelnet had a net margin of 18.96% and a return on equity of 12.58%. The firm had revenue of $427.76 million for the quarter, compared to analysts’ expectations of $372.00 million. On average, analysts expect that Nelnet will post 4.52 EPS for the current year.

Insider Activity at Nelnet

In related news, Director Deun Jona M. Van sold 400 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $128.95, for a total transaction of $51,580.00. Following the transaction, the director directly owned 704 shares in the company, valued at approximately $90,780.80. This represents a 36.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 50.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NNI. Ameritas Advisory Services LLC purchased a new stake in shares of Nelnet in the second quarter worth approximately $29,000. Financial Management Professionals Inc. bought a new stake in shares of Nelnet during the second quarter worth $32,000. Maseco LLP purchased a new stake in shares of Nelnet during the second quarter valued at $45,000. Osaic Holdings Inc. grew its holdings in shares of Nelnet by 170.3% in the second quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider’s stock worth $45,000 after purchasing an additional 235 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Nelnet by 189.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 368 shares of the credit services provider’s stock worth $46,000 after buying an additional 241 shares during the period. Hedge funds and other institutional investors own 33.51% of the company’s stock.

About Nelnet

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.