Nelnet (NYSE:NNI) Stock Price Passes Above 200 Day Moving Average of $92.52

Nelnet, Inc. (NYSE:NNI) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $92.52 and traded as high as $101.32. Nelnet shares last traded at $100.15, with a volume of 138,137 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NNI. StockNews.com raised shares of Nelnet from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. TD Cowen increased their price target on shares of Nelnet from $90.00 to $96.00 and gave the stock a “hold” rating in a research report on Tuesday, May 14th.

Nelnet Stock Performance

The stock has a market cap of $3.64 billion, a P/E ratio of 27.07 and a beta of 0.89. The firm’s 50-day moving average is $100.46 and its two-hundred day moving average is $92.52. The company has a quick ratio of 48.33, a current ratio of 48.33 and a debt-to-equity ratio of 3.25.

Nelnet (NYSE:NNI) last issued its quarterly earnings data on Thursday, May 9th. The credit services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.44. The firm had revenue of $579.96 million for the quarter. Nelnet had a net margin of 6.54% and a return on equity of 4.17%. During the same period in the previous year, the business posted $1.47 EPS. As a group, research analysts expect that Nelnet, Inc. will post 6 EPS for the current year.

Nelnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.12%. The ex-dividend date was Friday, May 31st. Nelnet’s payout ratio is presently 30.27%.

Insider Activity at Nelnet

In other news, Director Kathleen Anne Farrell sold 1,700 shares of Nelnet stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $101.73, for a total value of $172,941.00. Following the transaction, the director now owns 16,894 shares of the company’s stock, valued at $1,718,626.62. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 50.10% of the company’s stock.

Hedge Funds Weigh In On Nelnet

Institutional investors have recently modified their holdings of the company. Lawson Kroeker Investment Management Inc. NE acquired a new stake in shares of Nelnet in the first quarter worth $9,624,000. Farmers & Merchants Investments Inc. grew its stake in shares of Nelnet by 1.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 1,206,546 shares of the credit services provider’s stock worth $114,200,000 after acquiring an additional 16,820 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Nelnet in the first quarter worth $1,461,000. Dimensional Fund Advisors LP grew its stake in shares of Nelnet by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,076,549 shares of the credit services provider’s stock worth $183,194,000 after acquiring an additional 12,187 shares during the last quarter. Finally, Nebula Research & Development LLC acquired a new stake in shares of Nelnet in the fourth quarter worth $1,018,000. Institutional investors own 33.51% of the company’s stock.

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.