New York State Common Retirement Fund Buys 3,708 Shares of Nelnet, Inc. (NYSE:NNI)

New York State Common Retirement Fund grew its stake in shares of Nelnet, Inc. (NYSE:NNI) by 17.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,727 shares of the credit services provider’s stock after buying an additional 3,708 shares during the period. New York State Common Retirement Fund owned 0.07% of Nelnet worth $2,181,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CWM LLC lifted its holdings in Nelnet by 176.5% during the fourth quarter. CWM LLC now owns 412 shares of the credit services provider’s stock valued at $36,000 after purchasing an additional 263 shares in the last quarter. Graham Capital Management L.P. bought a new position in Nelnet in the 3rd quarter worth $238,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Nelnet by 31.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,013 shares of the credit services provider’s stock worth $269,000 after buying an additional 723 shares in the last quarter. Inspire Investing LLC raised its holdings in Nelnet by 6.0% during the third quarter. Inspire Investing LLC now owns 3,449 shares of the credit services provider’s stock valued at $308,000 after acquiring an additional 194 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Nelnet by 46.3% in the third quarter. Principal Financial Group Inc. now owns 4,092 shares of the credit services provider’s stock valued at $365,000 after acquiring an additional 1,295 shares in the last quarter. 33.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Nelnet from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th.

Nelnet Price Performance

Shares of NYSE:NNI opened at $96.37 on Wednesday. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 39.50 and a beta of 0.84. The firm has a fifty day moving average price of $92.10 and a 200 day moving average price of $88.59. Nelnet, Inc. has a fifty-two week low of $81.67 and a fifty-two week high of $101.60. The company has a debt-to-equity ratio of 3.67, a quick ratio of 35.15 and a current ratio of 35.15.

Nelnet (NYSE:NNI) last released its quarterly earnings data on Tuesday, February 27th. The credit services provider reported ($0.04) EPS for the quarter, missing the consensus estimate of $1.15 by ($1.19). The company had revenue of $260.66 million for the quarter. Nelnet had a net margin of 4.43% and a return on equity of 3.81%. As a group, sell-side analysts expect that Nelnet, Inc. will post 5.15 earnings per share for the current fiscal year.

Nelnet Company Profile

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.