Nelnet (NYSE:NNI) Downgraded by StockNews.com to “Hold”

Nelnet (NYSE:NNI) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Nelnet Stock Performance

NNI traded up $1.73 during trading on Tuesday, hitting $111.35. 28,131 shares of the company traded hands, compared to its average volume of 39,261. Nelnet has a one year low of $83.75 and a one year high of $127.32. The stock’s fifty day moving average is $107.84 and its 200 day moving average is $110.30. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78. The firm has a market cap of $4.04 billion, a P/E ratio of 36.63 and a beta of 0.91.

Nelnet (NYSE:NNI) last released its earnings results on Thursday, November 7th. The credit services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($1.02). Nelnet had a net margin of 5.54% and a return on equity of 3.78%. The company had revenue of $477.80 million during the quarter. During the same quarter last year, the firm posted $1.15 EPS. As a group, equities analysts predict that Nelnet will post 4.52 EPS for the current fiscal year.

Insider Activity

In other news, insider William J. Munn sold 2,500 shares of Nelnet stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total value of $272,225.00. Following the completion of the transaction, the insider now directly owns 9,354 shares in the company, valued at approximately $1,018,557.06. The trade was a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 50.10% of the company’s stock.

Institutional Investors Weigh In On Nelnet

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Kingsview Wealth Management LLC purchased a new position in Nelnet during the third quarter valued at approximately $2,613,000. Barclays PLC increased its holdings in shares of Nelnet by 127.4% in the third quarter. Barclays PLC now owns 28,996 shares of the credit services provider’s stock worth $3,285,000 after purchasing an additional 16,245 shares during the period. NorthCrest Asset Manangement LLC purchased a new stake in shares of Nelnet in the third quarter worth $865,000. Edgestream Partners L.P. bought a new stake in Nelnet during the third quarter valued at $851,000. Finally, Bank of Montreal Can purchased a new position in Nelnet during the second quarter worth about $637,000. 33.51% of the stock is currently owned by institutional investors.

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.