Insider Selling: Nelnet, Inc. (NNI) Major Shareholder Sells $105,500.00 in Stock
Nelnet, Inc. (NYSE:NNI) major shareholder Angie Muhleisen sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $52.75, for a total value of $105,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Angie Muhleisen also recently made the following trade(s):
- On Friday, October 20th, Angie Muhleisen sold 2,000 shares of Nelnet stock. The stock was sold at an average price of $57.54, for a total value of $115,080.00.
- On Tuesday, September 19th, Angie Muhleisen sold 2,000 shares of Nelnet stock. The stock was sold at an average price of $48.38, for a total value of $96,760.00.
Shares of Nelnet, Inc. (NNI) traded down $0.54 during trading on Friday, hitting $52.70. The stock had a trading volume of 54,100 shares, compared to its average volume of 82,658. The company has a debt-to-equity ratio of 10.44, a current ratio of 159.08 and a quick ratio of 159.08. The company has a market cap of $2,152.58, a price-to-earnings ratio of 12.09 and a beta of 1.06. Nelnet, Inc. has a 12-month low of $38.72 and a 12-month high of $59.68.
Nelnet (NYSE:NNI) last announced its quarterly earnings data on Tuesday, November 7th. The credit services provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.10). The firm had revenue of $194.43 million for the quarter, compared to the consensus estimate of $191.00 million. Nelnet had a net margin of 17.51% and a return on equity of 8.70%. Nelnet’s revenue for the quarter was down 18.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, November 30th. This is a positive change from Nelnet’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 1.21%. Nelnet’s dividend payout ratio is 10.59%.
A number of equities analysts have weighed in on NNI shares. Credit Suisse Group upped their target price on Nelnet from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, October 20th. Compass Point upgraded Nelnet from a “neutral” rating to a “buy” rating in a research note on Thursday, October 19th. Finally, TheStreet upgraded Nelnet from a “d+” rating to a “c” rating in a research note on Tuesday, August 8th.
Institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its position in shares of Nelnet by 6.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,156 shares of the credit services provider’s stock valued at $101,000 after purchasing an additional 123 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Nelnet by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,104 shares of the credit services provider’s stock valued at $146,000 after purchasing an additional 464 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Nelnet during the 3rd quarter valued at about $174,000. BNP Paribas Arbitrage SA increased its position in shares of Nelnet by 168.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,304 shares of the credit services provider’s stock valued at $202,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new position in shares of Nelnet during the 2nd quarter valued at about $214,000. Hedge funds and other institutional investors own 39.65% of the company’s stock.
Nelnet, Inc focuses on delivering education-related products and services and student loan asset management. The Company is engaged in student loan servicing, tuition payment processing and school information systems, and communications. The Company’s segments include Loan Systems and Servicing, Tuition Payment Processing and Campus Commerce, Communications, Asset Generation and Management, and Corporate and Other Activities.
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