Nelnet, Inc. (NYSE:NNI – Get Rating) shares saw unusually-strong trading volume on Friday . Approximately 3,125 shares traded hands during mid-day trading, a decline of 93% from the previous session’s volume of 43,462 shares.The stock last traded at $96.69 and had previously closed at $96.05.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on NNI shares. StockNews.com started coverage on shares of Nelnet in a report on Wednesday, October 12th. They set a “buy” rating for the company. Credit Suisse Group boosted their price target on shares of Nelnet from $88.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday.
Nelnet Trading Down 0.2 %
The company has a debt-to-equity ratio of 4.75, a quick ratio of 47.81 and a current ratio of 58.22. The firm has a market cap of $3.57 billion, a PE ratio of 7.14 and a beta of 0.75. The stock’s 50 day simple moving average is $84.02 and its 200 day simple moving average is $85.23.
Nelnet Increases Dividend
In other Nelnet news, insider William J. Munn sold 1,500 shares of the stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $80.89, for a total transaction of $121,335.00. Following the completion of the sale, the insider now owns 17,771 shares of the company’s stock, valued at approximately $1,437,496.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 50.30% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the stock. Sycale Advisors NY LLC bought a new position in shares of Nelnet in the 1st quarter worth about $12,010,000. Ilmarinen Mutual Pension Insurance Co purchased a new stake in Nelnet during the 1st quarter valued at about $215,000. Victory Capital Management Inc. grew its position in Nelnet by 222.4% during the 2nd quarter. Victory Capital Management Inc. now owns 8,447 shares of the credit services provider’s stock valued at $720,000 after purchasing an additional 5,827 shares during the last quarter. M&T Bank Corp grew its position in Nelnet by 11.4% during the 1st quarter. M&T Bank Corp now owns 5,364 shares of the credit services provider’s stock valued at $456,000 after purchasing an additional 550 shares during the last quarter. Finally, Versor Investments LP purchased a new stake in Nelnet during the 2nd quarter valued at about $222,000. 34.21% of the stock is currently owned by institutional investors.
Nelnet, Inc engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing services.
- Get a free copy of the StockNews.com research report on Nelnet (NNI)
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