54,852 Shares in Navient Corporation $NAVI Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC bought a new stake in shares of Navient Corporation (NASDAQ:NAVI) during the 2nd quarter, Holdings Channel reports. The firm bought 54,852 shares of the credit services provider’s stock, valued at approximately $467,000.

Several other hedge funds have also bought and sold shares of NAVI. Royal Bank of Canada raised its stake in shares of Navient by 11.7% in the first quarter. Royal Bank of Canada now owns 98,366 shares of the credit services provider’s stock worth $1,243,000 after buying an additional 10,296 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Navient by 9.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,350 shares of the credit services provider’s stock valued at $2,657,000 after acquiring an additional 17,483 shares during the period. Russell Investments Group Ltd. increased its holdings in Navient by 77.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,766 shares of the credit services provider’s stock worth $109,000 after acquiring an additional 3,378 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Navient by 13.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 438,621 shares of the credit services provider’s stock worth $6,185,000 after acquiring an additional 52,236 shares during the period. Finally, First Trust Advisors LP raised its stake in Navient by 6.4% during the 2nd quarter. First Trust Advisors LP now owns 276,778 shares of the credit services provider’s stock worth $3,903,000 after acquiring an additional 16,611 shares during the period. Institutional investors own 97.14% of the company’s stock.

Navient Price Performance

NASDAQ:NAVI opened at $9.46 on Friday. The company has a debt-to-equity ratio of 16.73, a current ratio of 10.53 and a quick ratio of 10.53. Navient Corporation has a 1 year low of $7.33 and a 1 year high of $13.87. The firm has a market capitalization of $887.20 million, a price-to-earnings ratio of -18.92 and a beta of 1.18. The business has a 50 day simple moving average of $8.74 and a 200-day simple moving average of $8.58.

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 negative net margin of 1.64% and a positive return on equity of 4.68%. The business had revenue of $150.00 million for the quarter, compared to the consensus estimate of $142.87 million. During the same quarter in the prior year, the firm posted $0.20 earnings per share. Equities analysts forecast that Navient Corporation will post 0.76 EPS for the current year.

Navient Dividend Announcement

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 given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend is Friday, September 4th. Navient’s dividend payout ratio is -128.00%.

Analysts Set New Price Targets

Several brokerages have recently commented on NAVI. TD Cowen restated a “sell” rating on shares of Navient in a research report on Friday, August 7th. JPMorgan Chase & Co. dropped their target price on shares of Navient from $9.50 to $8.00 and set a “neutral” rating for the company in a report on Monday, July 13th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Navient in a research note on Wednesday, June 24th. Five research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $9.14.

Navient Company Profile

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.