Navient (NASDAQ:NAVI) Shares Climb 7.6% – What’s Next?

Navient Corporation (NASDAQ:NAVI) rose 7.6% on Thursday. The company traded as high as $8.62 and last traded at $8.7550. Approximately 72,886 shares traded hands during trading, a decline of 94% from the average session volume of 1,143,312 shares. The stock had previously closed at $8.14.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NAVI shares. JPMorgan Chase & Co. increased their price target on Navient from $8.00 to $8.50 and gave the stock a “neutral” rating in a research report on Monday, October 12th. TD Cowen restated a “sell” rating on shares of Navient in a report on Friday, August 7th. Zacks Research upgraded Navient from a “hold” rating to a “strong-buy” rating in a report on Monday, October 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Navient in a research note on Monday, September 21st. Finally, Barclays dropped their target price on shares of Navient from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $8.17.

Navient Stock Up 2.4%

The business has a fifty day simple moving average of $9.24 and a two-hundred day simple moving average of $8.96. The company has a current ratio of 10.53, a quick ratio of 10.53 and a debt-to-equity ratio of 16.73.

Navient (NASDAQ:NAVI) last issued its quarterly earnings data on Thursday, August 6th. The credit services provider reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. Navient had a positive return on equity of 4.68% and a negative net margin of 1.64%. The firm had revenue of $150.00 million during the quarter, compared to analysts’ expectations of $142.87 million. During the same period in the prior year, the business posted $0.20 EPS. Analysts anticipate that Navient Corporation will post 0.83 earnings per share for the current fiscal year.

Navient Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were issued a $0.16 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.64 dividend on an annualized basis and a yield of 6.9%. Navient’s payout ratio is currently -128.00%.

Institutional Trading of Navient

A number of institutional investors have recently modified their holdings of the company. Vise Technologies Inc. acquired a new stake in shares of Navient during the third quarter worth $229,000. Moss Adams Wealth Advisors LLC purchased a new stake in shares of Navient during the third quarter valued at $231,000. State of Wyoming increased its position in shares of Navient by 97.6% in the 3rd quarter. State of Wyoming now owns 32,417 shares of the credit services provider’s stock valued at $294,000 after acquiring an additional 16,015 shares during the period. VestGen Advisors LLC acquired a new position in shares of Navient in the 3rd quarter valued at $165,000. Finally, Signaturefd LLC increased its position in shares of Navient by 100.8% in the 3rd quarter. Signaturefd LLC now owns 11,321 shares of the credit services provider’s stock valued at $103,000 after acquiring an additional 5,682 shares during the period. 97.14% of the stock is currently owned by institutional investors.

Navient Company Profile

Navient Corp. (NASDAQ:NAVI) is a financial services company that provides education finance and business-processing solutions. The company has historically serviced and managed federal and private student loans, helping borrowers with account administration, repayment processing, customer support and related loan-management services.

Navient’s operations have evolved as the company reduced its role in servicing federally owned student loans. In 2021, it transferred its federal student loan servicing portfolio to Aidvantage, a division of Maximus.