Dark Forest Capital Management LP Makes New $331,000 Investment in Nelnet, Inc. (NYSE:NNI)

Dark Forest Capital Management LP bought a new stake in shares of Nelnet, Inc. (NYSE:NNI) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,279 shares of the credit services provider’s stock, valued at approximately $331,000.

A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Nelnet by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,313,570 shares of the credit services provider’s stock worth $124,329,000 after purchasing an additional 3,485 shares during the period. Farmers & Merchants Investments Inc. boosted its holdings in shares of Nelnet by 1.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 1,206,546 shares of the credit services provider’s stock valued at $114,200,000 after buying an additional 16,820 shares in the last quarter. American Century Companies Inc. grew its position in shares of Nelnet by 4.9% in the 2nd quarter. American Century Companies Inc. now owns 122,055 shares of the credit services provider’s stock worth $12,310,000 after buying an additional 5,752 shares during the period. Bandera Partners LLC increased its stake in shares of Nelnet by 7.7% in the 4th quarter. Bandera Partners LLC now owns 120,583 shares of the credit services provider’s stock worth $10,638,000 after acquiring an additional 8,583 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Nelnet by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 118,046 shares of the credit services provider’s stock valued at $11,906,000 after acquiring an additional 1,280 shares during the period. Institutional investors own 33.51% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on NNI. TD Cowen raised their target price on shares of Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a research note on Monday, August 12th. StockNews.com lowered Nelnet from a “buy” rating to a “hold” rating in a research report on Monday, August 12th.

Nelnet Stock Down 0.3 %

Shares of Nelnet stock opened at $111.94 on Friday. The company has a 50-day simple moving average of $111.12 and a two-hundred day simple moving average of $103.28. The stock has a market capitalization of $4.07 billion, a PE ratio of 30.25 and a beta of 0.92. Nelnet, Inc. has a 52-week low of $81.67 and a 52-week high of $116.13. The company has a debt-to-equity ratio of 2.97, a quick ratio of 33.51 and a current ratio of 33.51.

Nelnet (NYSE:NNI) last released its quarterly earnings data on Thursday, August 8th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.13). The business had revenue of $324.90 million during the quarter. Nelnet had a net margin of 7.44% and a return on equity of 4.71%. On average, analysts anticipate that Nelnet, Inc. will post 5.9 EPS for the current fiscal year.

Nelnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Friday, August 30th. Nelnet’s dividend payout ratio (DPR) is 30.27%.

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.