Nelnet, Inc. (NYSE:NNI) Short Interest Down 18.4% in June
Nelnet, Inc. (NYSE:NNI – Get Rating) was the target of a sharp drop in short-term interest rates in June. As of June 15, there was short interest totaling 371,300 shares, down 18.4% from the May 31 total of 455,200 shares. Approximately 2.0% of the company’s shares are sold short. Based on an average trading volume of 95,800 shares, the short-term interest rate ratio is currently 3.9 days.
Separately, StockNews.com upgraded Nelnet’s shares from a “hold” rating to a “buy” rating in a Friday, May 13 research report.
NNI was down $0.08 on Tuesday, hitting $86.17. The company had a trading volume of 3,324 shares, compared to an average volume of 132,108. The company has a fifty-day moving average of $82.44 and a 200-day moving average of $85.50. The company has a market capitalization of $3.26 billion, a P/E ratio of 7.17 and a beta of 0.68. The company has a current ratio of 72.67, a quick ratio of 72.66 and a debt ratio of 5.43. Nelnet has a one-year minimum of $72.00 and a one-year maximum of $99.79.
Nelnet (NYSE:NNI – Get Rating) last announced its results on Monday, May 9. The credit service provider reported earnings per share (EPS) of $1.99 for the quarter. The company had revenue of $481.56 million in the quarter. Nelnet had a net margin of 27.45% and a return on equity of 10.39%.
This guide will help you identify and execute an options trading strategy that fits your specific needs and risk profile.
Take your trading to the next level with the Options Strategy Guide.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15. Shareholders of record on Wednesday, June 1 received a dividend of $0.24 per share. The ex-dividend date was Tuesday, May 31. This represents an annualized dividend of $0.96 and a dividend yield of 1.11%. Nelnet’s dividend payout ratio (DPR) is 8.06%.
Separately, insider William J. Munn sold 500 shares in a trade dated Monday, May 9. The shares were sold at an average price of $81.21, for a total value of $40,605.00. Following the sale, the insider now owns 21,271 shares of the company, valued at approximately $1,727,417.91. The transaction was disclosed in a filing with the SEC, accessible via this hyperlink. In the past ninety days, insiders have sold 1,500 shares of the company worth $122,785. Company insiders own 50.30% of the company’s shares.
Major investors have recently been buying and selling shares of the company. Dean Capital Management increased its position in Nelnet shares by 2.8% during the 4th quarter. Dean Capital Management now owns 18,429 shares of the credit service provider valued at $1,800,000 after buying 503 additional shares last quarter. Acadian Asset Management LLC increased its position in Nelnet shares by 77.4% during the 4th quarter. Acadian Asset Management LLC now owns 59,457 shares of the credit service provider valued at $5,794,000 after purchasing an additional 25,939 shares last quarter. Snyder Capital Management LP bought a new position in Nelnet stock during Q4 valued at approximately $21,608,000. Guardian Wealth Management Inc. bought a new position in Nelnet stock during Q4 valued at approximately $1,925,000. Finally, HighTower Advisors LLC increased its position in Nelnet shares by 17.4% during the 4th quarter. HighTower Advisors LLC now owns 45,085 shares of the credit service provider valued at $4,401,000 after buying an additional 6,696 shares last quarter.
Nelnet Company Profile (Get an assessment)
Nelnet, Inc is engaged in lending services, communications, education technology, services and payment processing worldwide. The Loan Management and Systems segment provides loan conversion, application processing, borrower update, customer service, payment processing, due diligence procedures, funds management reconciliation and complaints handling.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Nelnet right now?
Before you consider Nelnet, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market ripples…and Nelnet wasn’t on the list.
Although Nelnet currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here