Nelnet (NYSE:NNI) Sees Large Volume Increase – Still a Buy?

Nelnet, Inc. (NYSE:NNI) saw unusually-strong trading volume on Wednesday . Approximately 73,835 shares were traded during trading, a decline of 27% from the previous session’s volume of 101,257 shares.The stock last traded at $131.1690 and had previously closed at $131.23.

Wall Street Analyst Weigh In

NNI has been the topic of a number of analyst reports. Zacks Research upgraded shares of Nelnet from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. TD Cowen reaffirmed a “hold” rating on shares of Nelnet in a research note on Thursday, January 8th. Finally, Wall Street Zen lowered shares of Nelnet from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 15th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Nelnet Stock Performance

The business has a fifty day moving average of $132.25 and a 200 day moving average of $130.58. The company has a market cap of $4.68 billion, a P/E ratio of 11.09 and a beta of 0.82. The company has a quick ratio of 28.27, a current ratio of 28.27 and a debt-to-equity ratio of 2.18.

Nelnet (NYSE:NNI) last released its quarterly earnings results on Thursday, February 26th. The credit services provider reported $1.56 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.07). The company had revenue of $390.43 million during the quarter, compared to the consensus estimate of $382.00 million. Nelnet had a net margin of 18.99% and a return on equity of 12.43%. On average, equities analysts predict that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, February 27th. Nelnet’s dividend payout ratio (DPR) is currently 11.21%.

Hedge Funds Weigh In On Nelnet

Several hedge funds and other institutional investors have recently modified their holdings of NNI. JPMorgan Chase & Co. raised its holdings in Nelnet by 7.5% in the third quarter. JPMorgan Chase & Co. now owns 185,029 shares of the credit services provider’s stock worth $23,199,000 after purchasing an additional 12,941 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of Nelnet during the 3rd quarter valued at $1,086,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Nelnet during the 3rd quarter valued at $1,505,000. American Century Companies Inc. grew its position in shares of Nelnet by 18.0% in the 2nd quarter. American Century Companies Inc. now owns 143,014 shares of the credit services provider’s stock worth $17,322,000 after buying an additional 21,782 shares during the period. Finally, Allworth Financial LP grew its position in shares of Nelnet by 50,400.0% in the 2nd quarter. Allworth Financial LP now owns 1,010 shares of the credit services provider’s stock worth $122,000 after buying an additional 1,008 shares during the period. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Nelnet Company Profile

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.