StockNews.com Upgrades Nelnet (NYSE:NNI) to “Buy”

Nelnet (NYSE:NNI) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Nelnet Trading Up 0.4 %

Shares of NNI stock opened at $119.57 on Tuesday. The company has a 50 day moving average of $110.40 and a 200-day moving average of $110.94. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78. Nelnet has a 12-month low of $86.64 and a 12-month high of $127.32. The firm has a market cap of $4.34 billion, a P/E ratio of 39.33 and a beta of 0.91.

Nelnet (NYSE:NNI) last issued its quarterly earnings results on Thursday, February 27th. The credit services provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.21. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. The company had revenue of $401.61 million during the quarter, compared to analyst estimates of $335.00 million. Sell-side analysts anticipate that Nelnet will post 4.52 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NNI. Creative Planning boosted its holdings in Nelnet by 7.0% in the 3rd quarter. Creative Planning now owns 4,758 shares of the credit services provider’s stock worth $539,000 after buying an additional 310 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Nelnet by 60.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,434 shares of the credit services provider’s stock worth $616,000 after buying an additional 2,038 shares during the period. QRG Capital Management Inc. boosted its holdings in Nelnet by 13.9% in the 3rd quarter. QRG Capital Management Inc. now owns 4,468 shares of the credit services provider’s stock worth $506,000 after buying an additional 546 shares during the period. RMR Capital Management LLC boosted its holdings in Nelnet by 32.9% in the 3rd quarter. RMR Capital Management LLC now owns 4,035 shares of the credit services provider’s stock worth $457,000 after buying an additional 1,000 shares during the period. Finally, Quest Partners LLC boosted its holdings in Nelnet by 34,283.3% in the 3rd quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider’s stock worth $234,000 after buying an additional 2,057 shares during the period. 33.51% of the stock is 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.