Nelnet (NYSE:NNI) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Nelnet, Inc. (NYSE:NNI) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $132.18 and traded as high as $136.11. Nelnet shares last traded at $135.3150, with a volume of 114,858 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Zacks Research downgraded shares of Nelnet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings upgraded Nelnet from a “hold (c)” rating to a “buy (b)” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Nelnet currently has an average rating of “Hold” and a consensus price target of $140.00.

Nelnet Stock Up 0.0%

The business’s fifty day moving average price is $131.60 and its two-hundred day moving average price is $132.20. The company has a debt-to-equity ratio of 2.14, a quick ratio of 24.07 and a current ratio of 24.07. The firm has a market capitalization of $4.86 billion, a P/E ratio of 11.79 and a beta of 0.78.

Nelnet (NYSE:NNI) last posted its quarterly earnings data on Thursday, May 7th. The credit services provider reported $1.94 EPS for the quarter, missing the consensus estimate of $2.66 by ($0.72). Nelnet had a return on equity of 11.73% and a net margin of 18.45%.The firm had revenue of $419.06 million for the quarter, compared to the consensus estimate of $443.84 million. Equities analysts expect that Nelnet, Inc. will post 8.6 earnings per share for the current fiscal year.

Nelnet Announces Dividend

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

Institutional Trading of Nelnet

A number of institutional investors have recently made changes to their positions in the business. Wedge Capital Management L L P NC increased its position in Nelnet by 0.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 8,742 shares of the credit services provider’s stock valued at $1,162,000 after buying an additional 81 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Nelnet by 6.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,353 shares of the credit services provider’s stock worth $164,000 after acquiring an additional 83 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Nelnet by 0.6% in the third quarter. Captrust Financial Advisors now owns 16,336 shares of the credit services provider’s stock worth $2,048,000 after acquiring an additional 94 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Nelnet by 0.6% during the third quarter. Alliancebernstein L.P. now owns 19,158 shares of the credit services provider’s stock worth $2,402,000 after acquiring an additional 121 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Nelnet by 7.1% during the fourth quarter. CWM LLC now owns 1,900 shares of the credit services provider’s stock valued at $253,000 after acquiring an additional 126 shares in the last quarter. Institutional investors and hedge funds 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.