Nelnet (NYSE:NNI – Get Free Report) had its price objective reduced by stock analysts at TD Cowen from $135.00 to $125.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the credit services provider’s stock. TD Cowen‘s price target would suggest a potential downside of 5.81% from the company’s current price.
Separately, Weiss Ratings lowered Nelnet from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $125.00.
Check Out Our Latest Stock Analysis on NNI
Nelnet Trading Up 1.7%
Shares of NYSE NNI traded up $2.19 during midday trading on Monday, reaching $132.72. The company had a trading volume of 32,644 shares, compared to its average volume of 133,345. The stock has a market cap of $4.75 billion, a PE ratio of 17.55 and a beta of 0.78. Nelnet has a one year low of $116.62 and a one year high of $144.38. The firm’s fifty day moving average price is $125.45 and its 200-day moving average price is $129.96. The company has a quick ratio of 15.89, a current ratio of 15.89 and a debt-to-equity ratio of 1.94.
Nelnet (NYSE:NNI – Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The credit services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.06. Nelnet had a return on equity of 7.15% and a net margin of 12.93%. The business had revenue of $436.59 million for the quarter, compared to analyst estimates of $427.37 million. On average, equities research analysts anticipate that Nelnet will post 7.42 earnings per share for the current year.
Institutional Trading of Nelnet
Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of Nelnet by 8.3% in the first quarter. Bank of New York Mellon Corp now owns 81,435 shares of the credit services provider’s stock worth $10,502,000 after purchasing an additional 6,266 shares during the last quarter. Guardian Wealth Management Inc. raised its position in Nelnet by 4.0% during the 2nd quarter. Guardian Wealth Management Inc. now owns 53,433 shares of the credit services provider’s stock valued at $7,124,000 after purchasing an additional 2,077 shares during the last quarter. Edgestream Partners L.P. lifted its holdings in Nelnet by 47.9% in the 1st quarter. Edgestream Partners L.P. now owns 50,718 shares of the credit services provider’s stock worth $6,541,000 after buying an additional 16,428 shares during the period. Renaissance Technologies LLC lifted its holdings in Nelnet by 58.9% in the 1st quarter. Renaissance Technologies LLC now owns 48,000 shares of the credit services provider’s stock worth $6,190,000 after buying an additional 17,800 shares during the period. Finally, D.A. Davidson & CO. lifted its holdings in Nelnet by 1.1% in the 3rd quarter. D.A. Davidson & CO. now owns 24,826 shares of the credit services provider’s stock worth $3,056,000 after buying an additional 265 shares during the period. 33.51% of the stock is currently owned by hedge funds and other institutional investors.
About Nelnet
Nelnet, Inc is a diversified financial services and education technology company headquartered in Lincoln, Nebraska. Founded in 1978, it initially focused on student loan servicing and has since expanded into services for borrowers, schools, and other organizations.
The company provides student loan servicing and related technology, as well as education services such as tuition and payment processing, school administration tools, and online learning resources. Its other businesses include banking and renewable energy services.
Nelnet primarily serves customers in the United States.
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