RBF Capital LLC cut its stake in shares of Navient Corp (NASDAQ:NAVI) by 80.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 10,000 shares of the credit services provider’s stock after selling 41,760 shares during the quarter. RBF Capital LLC’s holdings in Navient were worth $137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NAVI. Dimensional Fund Advisors LP increased its stake in shares of Navient by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,204,398 shares of the credit services provider’s stock worth $107,522,000 after acquiring an additional 298,646 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its position in Navient by 173.8% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 33,210 shares of the credit services provider’s stock worth $384,000 after purchasing an additional 21,080 shares during the period. Janney Montgomery Scott LLC grew its position in Navient by 34.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 107,747 shares of the credit services provider’s stock worth $1,247,000 after purchasing an additional 27,813 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Navient during the 1st quarter valued at about $985,000. Finally, Quinn Opportunity Partners LLC purchased a new position in shares of Navient during the 1st quarter valued at about $694,000. 96.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NAVI stock traded up $0.05 during mid-day trading on Wednesday, hitting $13.32. 70,923 shares of the stock were exchanged, compared to its average volume of 1,244,443. The firm has a fifty day moving average of $13.26 and a 200 day moving average of $12.96. The company has a quick ratio of 13.85, a current ratio of 13.85 and a debt-to-equity ratio of 26.20. Navient Corp has a 52-week low of $8.23 and a 52-week high of $15.67. The company has a market cap of $3.06 billion, a PE ratio of 6.36, a price-to-earnings-growth ratio of 1.78 and a beta of 2.15.
Navient (NASDAQ:NAVI) last posted its earnings results on Tuesday, July 23rd. The credit services provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.20. Navient had a return on equity of 16.82% and a net margin of 8.14%. The firm had revenue of $296.00 million for the quarter, compared to analysts’ expectations of $296.50 million. During the same period last year, the firm earned $0.52 EPS. The company’s quarterly revenue was down 7.2% on a year-over-year basis. Equities analysts predict that Navient Corp will post 2.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.64 dividend on an annualized basis and a yield of 4.80%. Navient’s dividend payout ratio is currently 30.62%.
NAVI has been the topic of a number of recent research reports. Barclays upped their target price on Navient from $14.00 to $17.00 and gave the stock a “positive” rating in a research note on Thursday, July 25th. They noted that the move was a valuation call. ValuEngine cut Navient from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. BidaskClub downgraded Navient from a “buy” rating to a “hold” rating in a report on Friday, August 16th. TheStreet upgraded Navient from a “c” rating to a “b-” rating in a research report on Tuesday, August 6th. Finally, BMO Capital Markets set a $17.00 price objective on shares of Navient and gave the stock a “hold” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $15.67.
In other Navient news, major shareholder Canyon Capital Advisors Llc sold 3,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $14.95, for a total value of $52,325,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.85% of the company’s stock.
Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates in three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company holds and acquires Federal Family Education Loan Program loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing and asset recovery services on its own loan portfolio, and federal education loans owned by the United States Department of Education and other institutions.
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