Nelnet (NYSE:NNI) Raised to “Buy” at StockNews.com

Nelnet (NYSE:NNI) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Nelnet Price Performance

Shares of NYSE NNI opened at $108.01 on Wednesday. Nelnet has a twelve month low of $82.59 and a twelve month high of $127.32. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78. The stock has a market cap of $3.92 billion, a P/E ratio of 35.53 and a beta of 0.91. The stock has a 50 day moving average of $107.44 and a two-hundred day moving average of $109.75.

Insiders Place Their Bets

In other Nelnet news, insider William J. Munn sold 2,500 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total transaction of $272,225.00. Following the completion of the transaction, the insider now owns 9,354 shares of the company’s stock, valued at approximately $1,018,557.06. This trade represents a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 50.10% of the stock is currently owned by company insiders.

Institutional Trading of Nelnet

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Christopher J. Hasenberg Inc acquired a new position in Nelnet in the 4th quarter valued at about $38,000. FMR LLC grew its holdings in shares of Nelnet by 20.3% during the third quarter. FMR LLC now owns 556 shares of the credit services provider’s stock worth $63,000 after buying an additional 94 shares in the last quarter. Quest Partners LLC raised its position in shares of Nelnet by 34,283.3% in the third quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider’s stock valued at $234,000 after buying an additional 2,057 shares during the last quarter. Security National Bank of Sioux City Iowa IA purchased a new position in shares of Nelnet during the second quarter valued at approximately $212,000. Finally, MML Investors Services LLC boosted its position in Nelnet by 7.4% during the third quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider’s stock worth $258,000 after acquiring an additional 157 shares during the last quarter. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

About Nelnet

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.