Nelnet (NYSE:NNI) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Nelnet, Inc. (NYSE:NNI) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $132.05 and traded as high as $133.67. Nelnet shares last traded at $133.5120, with a volume of 147,777 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NNI shares. Weiss Ratings raised shares of Nelnet from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Zacks Research downgraded shares of Nelnet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $140.00.

Nelnet Stock Performance

The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 11.69 and a beta of 0.79. The company has a debt-to-equity ratio of 2.14, a quick ratio of 24.07 and a current ratio of 24.07. The firm’s 50-day moving average price is $131.99 and its two-hundred day moving average price is $132.09.

Nelnet (NYSE:NNI) last issued its quarterly earnings data on Thursday, May 7th. The credit services provider reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.66 by ($0.72). Nelnet had a net margin of 18.45% and a return on equity of 11.73%. The business had revenue of $419.06 million during the quarter, compared to the consensus estimate of $443.84 million. Sell-side analysts predict that Nelnet, Inc. will post 8.6 earnings per share for the current year.

Nelnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, June 1st. Nelnet’s dividend payout ratio is presently 11.50%.

Hedge Funds Weigh In On Nelnet

Large investors have recently modified their holdings of the stock. Wedge Capital Management L L P NC raised its position in Nelnet by 0.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 8,742 shares of the credit services provider’s stock valued at $1,162,000 after purchasing an additional 81 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Nelnet by 6.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,353 shares of the credit services provider’s stock valued at $164,000 after buying an additional 83 shares in the last quarter. Captrust Financial Advisors raised its holdings in Nelnet by 0.6% during the third quarter. Captrust Financial Advisors now owns 16,336 shares of the credit services provider’s stock worth $2,048,000 after buying an additional 94 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Nelnet by 0.6% during the 3rd quarter. Alliancebernstein L.P. now owns 19,158 shares of the credit services provider’s stock worth $2,402,000 after purchasing an additional 121 shares in the last quarter. Finally, CWM LLC raised its position in Nelnet by 7.1% in the 4th quarter. CWM LLC now owns 1,900 shares of the credit services provider’s stock valued at $253,000 after buying an additional 126 shares during the last quarter. 33.51% of the stock is owned by institutional investors.

Nelnet Company Profile

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.