521,197 Shares in Navient Corporation $NAVI Acquired by PDT Partners LLC

PDT Partners LLC purchased a new stake in Navient Corporation (NASDAQ:NAVI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 521,197 shares of the credit services provider’s stock, valued at approximately $4,435,000. PDT Partners LLC owned 0.56% of Navient as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC increased its position in shares of Navient by 325.6% in the first quarter. Parallel Advisors LLC now owns 5,005 shares of the credit services provider’s stock worth $41,000 after acquiring an additional 3,829 shares in the last quarter. Versant Capital Management Inc boosted its position in Navient by 552.6% during the 2nd quarter. Versant Capital Management Inc now owns 4,855 shares of the credit services provider’s stock worth $41,000 after purchasing an additional 4,111 shares during the period. Kestra Advisory Services LLC purchased a new stake in Navient during the 4th quarter worth $44,000. PNC Financial Services Group Inc. increased its holdings in Navient by 39.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,228 shares of the credit services provider’s stock valued at $55,000 after purchasing an additional 1,191 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Navient by 3,045.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,127 shares of the credit services provider’s stock valued at $67,000 after purchasing an additional 4,964 shares in the last quarter. 97.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NAVI has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price objective on Navient from $9.50 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, July 13th. Barclays increased their target price on Navient from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. TD Cowen reiterated a “sell” rating on shares of Navient in a report on Friday, August 7th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Navient in a research report on Wednesday, June 24th. Five research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $9.14.

Navient Stock Performance

Shares of NAVI stock opened at $9.49 on Wednesday. Navient Corporation has a 12 month low of $7.33 and a 12 month high of $13.87. The company has a debt-to-equity ratio of 16.73, a current ratio of 10.53 and a quick ratio of 10.53. The firm has a market capitalization of $889.97 million, a P/E ratio of -18.98 and a beta of 1.18. The company’s fifty day moving average price is $8.66 and its two-hundred day moving average price is $8.59.

Navient (NASDAQ:NAVI) last announced its earnings results on Thursday, August 6th. The credit services provider reported $0.29 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $150.00 million during the quarter, compared to the consensus estimate of $142.87 million. During the same period last year, the firm earned $0.20 earnings per share. On average, research analysts anticipate that Navient Corporation will post 0.76 earnings per share for the current fiscal year.

Navient Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date is Friday, September 4th. Navient’s dividend payout ratio (DPR) is -128.00%.

About Navient

Navient Corporation (NASDAQ: NAVI) is a specialized provider of asset management and business processing solutions, with a primary focus on student loan servicing. Established in 2014 through the separation from Sallie Mae, Navient assumed responsibility for servicing federal and private education loans, positioning itself as one of the largest servicers of higher education debt in the United States.

The company’s core activities center on federal student loan servicing under contracts with the U.S.