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

Nelnet (NYSE:NNI) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Separately, TD Cowen upped their price target on shares of Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a report on Monday, August 12th.

Nelnet Trading Up 0.6 %

NNI opened at $108.52 on Friday. The stock has a market capitalization of $3.94 billion, a PE ratio of 35.70 and a beta of 0.90. The firm’s fifty day moving average price is $111.72 and its 200 day moving average price is $108.89. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. Nelnet has a 12-month low of $82.22 and a 12-month high of $127.32.

Insiders Place Their Bets

In related news, insider William J. Munn sold 2,500 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $108.89, for a total value of $272,225.00. Following the sale, the insider now owns 9,354 shares of the company’s stock, valued at $1,018,557.06. This trade represents a 21.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 50.10% of the stock is owned by corporate insiders.

Institutional Trading of Nelnet

A number of large investors have recently modified their holdings of NNI. FMR LLC grew its position in Nelnet by 20.3% in 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 position in shares of Nelnet during the 2nd quarter valued at about $212,000. Quest Partners LLC boosted its position 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 valued at $234,000 after purchasing an additional 2,057 shares in the last quarter. MML Investors Services LLC boosted its position in shares of Nelnet by 7.4% during the 3rd quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider’s stock valued at $258,000 after purchasing an additional 157 shares in the last quarter. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Nelnet during the 3rd quarter valued at about $288,000. Institutional investors and hedge funds 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.