Nelnet (NYSE:NNI) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of Nelnet (NYSE:NNI) from a hold rating to a strong sell rating in a research report released on Wednesday,Zacks.com reports.

Separately, Weiss Ratings upgraded Nelnet from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Nelnet presently has an average rating of “Hold” and a consensus target price of $140.00.

Nelnet Trading Up 0.4%

NYSE:NNI opened at $132.37 on Wednesday. The company has a current ratio of 24.07, a quick ratio of 24.07 and a debt-to-equity ratio of 2.14. Nelnet has a 12 month low of $116.62 and a 12 month high of $144.38. The company has a market cap of $4.76 billion, a PE ratio of 11.53 and a beta of 0.78. The company has a 50 day simple moving average of $130.86 and a two-hundred day simple moving average of $132.05.

Nelnet (NYSE:NNI) last announced its earnings results on Thursday, May 7th. The credit services provider reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.72). The company had revenue of $419.06 million for the quarter, compared to analysts’ expectations of $443.84 million. Nelnet had a net margin of 18.45% and a return on equity of 11.73%. Research analysts forecast that Nelnet will post 8.18 earnings per share for the current year.

Nelnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.33 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.32 annualized dividend and a yield of 1.0%. Nelnet’s dividend payout ratio (DPR) is presently 11.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Rossby Financial LCC purchased a new stake in shares of Nelnet in the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd purchased a new position in Nelnet during the fourth quarter valued at $31,000. Osaic Holdings Inc. lifted its position in Nelnet by 170.3% during the second quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider’s stock valued at $45,000 after purchasing an additional 235 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Nelnet by 51.4% during the first quarter. EverSource Wealth Advisors LLC now owns 445 shares of the credit services provider’s stock valued at $57,000 after purchasing an additional 151 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in Nelnet during the fourth quarter valued at about $59,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

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.