Nelnet (NYSE:NNI) Sees Strong Trading Volume – Time to Buy?

Shares of Nelnet, Inc. (NYSE:NNI) saw unusually-strong trading volume on Tuesday . Approximately 158,929 shares were traded during mid-day trading, an increase of 34% from the previous session’s volume of 118,590 shares.The stock last traded at $128.5550 and had previously closed at $128.76.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Zacks Research raised shares of Nelnet from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. TD Cowen reiterated a “hold” rating on shares of Nelnet in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Nelnet currently has an average rating of “Moderate Buy” and an average price target of $140.00.

Nelnet Trading Up 0.1%

The company has a debt-to-equity ratio of 2.18, a quick ratio of 28.27 and a current ratio of 28.27. The firm has a market capitalization of $4.62 billion, a P/E ratio of 11.00 and a beta of 0.82. The firm has a 50 day simple moving average of $131.11 and a two-hundred day simple moving average of $130.58.

Nelnet (NYSE:NNI) last posted its earnings results on Thursday, February 26th. The credit services provider reported $1.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.07). The firm had revenue of $392.76 million during the quarter, compared to the consensus estimate of $382.00 million. Nelnet had a return on equity of 12.43% and a net margin of 18.99%. Equities research analysts forecast that Nelnet, Inc. will post 4.52 earnings per share for the current year.

Nelnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a $0.33 dividend. The ex-dividend date was Friday, February 27th. This represents a $1.32 annualized dividend and a yield of 1.0%. Nelnet’s dividend payout ratio (DPR) is 11.21%.

Hedge Funds Weigh In On Nelnet

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in Nelnet by 7.5% in the third quarter. JPMorgan Chase & Co. now owns 185,029 shares of the credit services provider’s stock worth $23,199,000 after acquiring an additional 12,941 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of Nelnet in the 3rd quarter worth approximately $1,086,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Nelnet in the 3rd quarter worth approximately $1,505,000. American Century Companies Inc. lifted its stake in Nelnet by 28.9% in the third quarter. American Century Companies Inc. now owns 184,316 shares of the credit services provider’s stock valued at $23,110,000 after purchasing an additional 41,302 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Nelnet during the second quarter valued at $791,000. 33.51% of the stock is owned by institutional investors.

About Nelnet

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.