Navient (NASDAQ:NAVI) Shares Gap Up – Time to Buy?

Navient Co. (NASDAQ:NAVI) gapped up before the market opened on Wednesday . The stock had previously closed at $15.14, but opened at $15.72. Navient shares last traded at $15.97, with a volume of 36,404 shares changing hands.

Analysts Set New Price Targets

Several brokerages have issued reports on NAVI. Barclays boosted their target price on Navient from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, October 8th. Bank of America initiated coverage on Navient in a report on Monday, September 30th. They issued a “neutral” rating and a $17.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of Navient from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, Navient has an average rating of “Hold” and an average price target of $15.78.

Navient Stock Up 2.0 %

The company has a debt-to-equity ratio of 17.30, a quick ratio of 9.99 and a current ratio of 9.99. The stock has a 50-day moving average of $15.65 and a two-hundred day moving average of $15.31. The company has a market cap of $1.69 billion, a P/E ratio of 10.06 and a beta of 1.39.

Navient Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.14%. The ex-dividend date was Friday, September 6th. Navient’s dividend payout ratio is presently 41.03%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NAVI. Donald Smith & CO. Inc. raised its holdings in Navient by 27.8% during the 3rd quarter. Donald Smith & CO. Inc. now owns 3,581,311 shares of the credit services provider’s stock valued at $55,833,000 after buying an additional 779,973 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Navient during the first quarter valued at approximately $4,813,000. Squarepoint Ops LLC bought a new position in shares of Navient during the second quarter valued at approximately $3,345,000. Edgestream Partners L.P. lifted its stake in Navient by 90.9% in the first quarter. Edgestream Partners L.P. now owns 386,379 shares of the credit services provider’s stock worth $6,723,000 after acquiring an additional 183,969 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Navient by 12.1% in the second quarter. American Century Companies Inc. now owns 1,582,928 shares of the credit services provider’s stock valued at $23,047,000 after acquiring an additional 171,160 shares in the last quarter. 97.14% of the stock is owned by institutional investors.

About Navient

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.