Nelnet (NYSE:NNI) Share Price Passes Above 200 Day Moving Average – Here’s Why

Nelnet, Inc. (NYSE:NNI)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $110.02 and traded as high as $110.36. Nelnet shares last traded at $110.07, with a volume of 36,533 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com raised Nelnet from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th.

Nelnet Stock Performance

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 firm has a market capitalization of $3.99 billion, a P/E ratio of 36.21 and a beta of 0.91. The business’s 50 day simple moving average is $107.31 and its two-hundred day simple moving average is $110.02.

Nelnet (NYSE:NNI) last announced its quarterly earnings results on Thursday, November 7th. The credit services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($1.02). The firm had revenue of $477.80 million for the quarter. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. During the same period in the prior year, the business earned $1.15 earnings per share. Sell-side analysts anticipate that Nelnet, Inc. will post 4.52 EPS for the current fiscal year.

Nelnet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Monday, December 2nd. Nelnet’s payout ratio is presently 36.84%.

Insider Activity

In other Nelnet news, insider William J. Munn sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total value of $272,225.00. Following the transaction, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 50.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nelnet

Several institutional investors have recently made changes to their positions in the business. Christopher J. Hasenberg Inc bought a new position in Nelnet in the 4th quarter worth $38,000. Blue Trust Inc. grew its holdings in Nelnet by 1,293.1% during the 4th quarter. Blue Trust Inc. now owns 404 shares of the credit services provider’s stock valued at $46,000 after buying an additional 375 shares in the last quarter. FMR LLC grew its holdings in Nelnet by 20.3% during the 3rd quarter. FMR LLC now owns 556 shares of the credit services provider’s stock valued at $63,000 after buying an additional 94 shares in the last quarter. Security National Bank of Sioux City Iowa IA bought a new stake in Nelnet in the 2nd quarter worth approximately $212,000. Finally, Quest Partners LLC raised its holdings in shares of Nelnet by 34,283.3% during the 3rd quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider’s stock worth $234,000 after acquiring an additional 2,057 shares in the last quarter. 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.