Nelnet, Inc. (NYSE:NNI) Sees Significant Decline in Short Interest

Nelnet, Inc. (NYSE:NNI) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 250,200 shares, a decrease of 21.3% from the October 15th total of 318,000 shares. Based on an average trading volume of 52,700 shares, the short-interest ratio is currently 4.7 days. Currently, 1.6% of the company’s stock are sold short.

Nelnet Price Performance

Shares of NYSE:NNI opened at $109.34 on Friday. The business has a fifty day moving average price of $112.95 and a 200-day moving average price of $108.25. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. The company has a market capitalization of $3.96 billion, a PE ratio of 35.97 and a beta of 0.92. Nelnet has a 1-year low of $82.22 and a 1-year high of $127.32.

Nelnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 1.02%. Nelnet’s dividend payout ratio is currently 36.84%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. StockNews.com lowered shares of Nelnet from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. TD Cowen boosted their price target on Nelnet from $96.00 to $98.00 and gave the stock a “hold” rating in a research report on Monday, August 12th.

Insiders Place Their Bets

In other news, insider William J. Munn sold 2,500 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $108.89, for a total transaction of $272,225.00. Following the sale, the insider now owns 9,354 shares in the company, valued at approximately $1,018,557.06. The trade was a 21.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 50.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its position in shares of Nelnet by 97.7% during the first quarter. BNP Paribas Financial Markets now owns 6,782 shares of the credit services provider’s stock valued at $642,000 after acquiring an additional 3,352 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Nelnet in the 1st quarter worth $209,000. ProShare Advisors LLC purchased a new position in shares of Nelnet in the first quarter worth $220,000. Vanguard Group Inc. lifted its holdings in shares of Nelnet by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,313,570 shares of the credit services provider’s stock valued at $124,329,000 after purchasing an additional 3,485 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Nelnet by 139.2% during the first quarter. Covestor Ltd now owns 806 shares of the credit services provider’s stock valued at $76,000 after buying an additional 469 shares during the last quarter. 33.51% of the stock is owned by hedge funds and other institutional investors.

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.