Nelnet (NYSE:NNI) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Shares of Nelnet, Inc. (NYSE:NNI) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $131.88 and traded as high as $135.68. Nelnet shares last traded at $133.90, with a volume of 86,441 shares traded.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Zacks Research downgraded Nelnet from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. Weiss Ratings raised shares of Nelnet from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $140.00.

Nelnet Price Performance

The firm has a market cap of $4.76 billion, a PE ratio of 11.53 and a beta of 0.78. The firm’s fifty day simple moving average is $130.68 and its two-hundred day simple moving average is $131.88. The company has a quick ratio of 24.07, a current ratio of 24.07 and a debt-to-equity ratio of 2.14.

Nelnet (NYSE:NNI) last announced its quarterly earnings data on Thursday, May 7th. The credit services provider reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.72). The firm had revenue of $419.06 million during the quarter, compared to analysts’ expectations of $443.84 million. Nelnet had a return on equity of 11.73% and a net margin of 18.45%. As a group, research analysts expect that Nelnet, Inc. will post 8.18 EPS for the current year.

Nelnet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, June 1st. Nelnet’s payout ratio is currently 11.50%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG increased its position in shares of Nelnet by 66.4% during the 3rd quarter. UBS Group AG now owns 191,826 shares of the credit services provider’s stock valued at $24,051,000 after purchasing an additional 76,534 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in Nelnet by 66.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 96,840 shares of the credit services provider’s stock worth $11,729,000 after acquiring an additional 38,628 shares in the last quarter. Marshall Wace LLP increased its holdings in Nelnet by 421.7% during the 2nd quarter. Marshall Wace LLP now owns 46,474 shares of the credit services provider’s stock worth $5,629,000 after purchasing an additional 37,566 shares during the period. Jane Street Group LLC increased its stake in shares of Nelnet by 115.1% during the fourth quarter. Jane Street Group LLC now owns 69,711 shares of the credit services provider’s stock valued at $9,269,000 after buying an additional 37,300 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Nelnet by 952.7% in the 3rd quarter. Millennium Management LLC now owns 27,992 shares of the credit services provider’s stock valued at $3,510,000 after purchasing an additional 25,333 shares in the last quarter. 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.