Nelnet, Inc. (NYSE:NNI) Sees Large Growth in Short Interest

Nelnet, Inc. (NYSE:NNI) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 280,800 shares, an increase of 17.9% from the March 15th total of 238,100 shares. Based on an average trading volume of 51,800 shares, the days-to-cover ratio is presently 5.4 days. Approximately 1.7% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Nelnet from a “hold” rating to a “buy” rating in a research note on Tuesday, March 4th.

Nelnet Price Performance

Nelnet stock traded down $2.46 during midday trading on Monday, hitting $102.32. 52,496 shares of the company’s stock were exchanged, compared to its average volume of 60,675. The stock has a 50-day moving average price of $111.47 and a two-hundred day moving average price of $110.44. Nelnet has a 52-week low of $93.59 and a 52-week high of $127.32. The company has a market cap of $3.71 billion, a P/E ratio of 33.66 and a beta of 0.88. The company has a debt-to-equity ratio of 2.78, a quick ratio of 31.47 and a current ratio of 31.47.

Nelnet (NYSE:NNI) last posted its quarterly earnings results on Thursday, February 27th. The credit services provider reported $1.44 earnings per share 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 business had revenue of $401.61 million during the quarter, compared to the consensus estimate of $335.00 million. On average, equities research analysts forecast that Nelnet will post 4.52 earnings per share for the current year.

Nelnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, February 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.09%. Nelnet’s dividend payout ratio is presently 22.40%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NNI. FMR LLC lifted its position in Nelnet by 20.3% during the third quarter. FMR LLC now owns 556 shares of the credit services provider’s stock valued at $63,000 after buying an additional 94 shares during the period. MetLife Investment Management LLC grew its holdings in Nelnet by 1.8% in the fourth quarter. MetLife Investment Management LLC now owns 8,510 shares of the credit services provider’s stock worth $909,000 after purchasing an additional 151 shares during the period. MML Investors Services LLC increased its stake in shares of Nelnet by 7.4% during the third quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider’s stock valued at $258,000 after purchasing an additional 157 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Nelnet by 1.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,395 shares of the credit services provider’s stock valued at $1,217,000 after purchasing an additional 188 shares during the last quarter. Finally, Christopher J. Hasenberg Inc purchased a new stake in shares of Nelnet in the 4th quarter worth approximately $38,000. 33.51% of the stock is currently owned by 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.