Navient (NASDAQ:NAVI – Get Free Report) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.
NAVI has been the subject of several other research reports. Barclays decreased their price objective on shares of Navient from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Thursday, November 5th. TD Cowen lowered their target price on Navient from $8.50 to $8.00 and set a “sell” rating for the company in a report on Thursday, November 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Navient in a research report on Monday, September 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Navient from $8.50 to $9.00 and gave the company a “neutral” rating in a report on Thursday, November 5th. Four research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $8.00.
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Navient Stock Performance
NASDAQ:NAVI opened at $5.92 on Tuesday. Navient has a 1 year low of $5.91 and a 1 year high of $13.48. The company has a market cap of $555.18 million, a price-to-earnings ratio of 11.17 and a beta of 1.17. The stock’s 50 day simple moving average is $9.02 and its two-hundred day simple moving average is $8.79. The company has a debt-to-equity ratio of 15.37, a current ratio of 7.50 and a quick ratio of 10.53.
Navient (NASDAQ:NAVI – Get Free Report) last announced its earnings results on Wednesday, November 4th. The credit services provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.10). Navient had a net margin of 1.79% and a return on equity of 3.65%. The business had revenue of $308.00 million for the quarter, compared to analysts’ expectations of $144.92 million. During the same quarter in the prior year, the company posted ($0.84) earnings per share. As a group, equities analysts anticipate that Navient will post 0.69 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Boston Partners acquired a new stake in Navient in the 3rd quarter worth about $20,711,000. Global Retirement Partners LLC raised its holdings in shares of Navient by 286.7% during the 3rd quarter. Global Retirement Partners LLC now owns 4,223 shares of the credit services provider’s stock worth $38,000 after acquiring an additional 3,131 shares during the period. Russell Investments Group Ltd. boosted its holdings in Navient by 574.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 834,682 shares of the credit services provider’s stock valued at $7,571,000 after purchasing an additional 710,875 shares during the last quarter. Brighton Jones LLC purchased a new stake in Navient in the third quarter valued at $98,000. Finally, Parallel Advisors LLC raised its holdings in Navient by 72.7% in the 3rd quarter. Parallel Advisors LLC now owns 12,247 shares of the credit services provider’s stock valued at $111,000 after buying an additional 5,157 shares during the period. 97.14% of the stock is owned by hedge funds and other institutional investors.
Navient Company Profile
Navient is a U.S.-focused education finance company whose business has centered on managing student loan portfolios and providing loan servicing. Its services have included payment processing, borrower account support and repayment assistance for federal and private education loans, as well as asset-recovery and business-processing services. The company was formed in 2014 through the separation of SLM Corporation, commonly known as Sallie Mae. Navient later transferred federal student loan servicing operations to other providers, including a transfer to Maximus in 2021 and an agreement to move its remaining federal servicing accounts to MOHELA in 2024.
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