Nelnet, Inc. (NYSE:NNI) Short Interest Up 31.2% in September

Nelnet, Inc. (NYSE:NNI) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 297,200 shares, an increase of 31.2% from the August 30th total of 226,500 shares. Based on an average daily volume of 79,800 shares, the short-interest ratio is currently 3.7 days. Approximately 1.6% of the shares of the company are short sold.

Shares of NNI traded up $0.63 on Friday, reaching $60.66. 75,687 shares of the stock traded hands, compared to its average volume of 109,060. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 10.88 and a beta of 0.39. The company has a debt-to-equity ratio of 9.15, a current ratio of 70.11 and a quick ratio of 70.11. Nelnet has a 12 month low of $47.59 and a 12 month high of $69.97. The stock’s 50-day moving average price is $65.52 and its 200-day moving average price is $61.25.

Nelnet (NYSE:NNI) last released its quarterly earnings data on Thursday, August 8th. The credit services provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.08. The business had revenue of $241.97 million for the quarter, compared to analysts’ expectations of $281.00 million. Nelnet had a return on equity of 9.61% and a net margin of 7.45%. During the same period in the previous year, the business posted $1.30 earnings per share.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, August 29th.

A number of hedge funds have recently made changes to their positions in NNI. Geode Capital Management LLC boosted its stake in Nelnet by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 306,607 shares of the credit services provider’s stock valued at $16,047,000 after buying an additional 18,172 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Nelnet in the first quarter worth $232,000. Burney Co. acquired a new position in Nelnet in the first quarter worth $205,000. Marshall Wace LLP acquired a new position in Nelnet in the first quarter worth $839,000. Finally, Amundi Pioneer Asset Management Inc. boosted its stake in Nelnet by 147.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 12,135 shares of the credit services provider’s stock worth $669,000 after purchasing an additional 7,235 shares in the last quarter. 34.98% of the stock is currently owned by institutional investors and hedge funds.

Separately, ValuEngine cut Nelnet from a “hold” rating to a “sell” rating in a research report on Friday, September 20th.

Nelnet Company Profile

Nelnet, Inc provides education related products and services, and loan asset management services worldwide. The company's Loan Servicing and Systems is involved in loan servicing activities, such as loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing activities for student loan portfolio and third-party clients.

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