Navient Corporation (NAVI) Shares Bought by Mutual of America Capital Management LLC
Mutual of America Capital Management LLC raised its position in shares of Navient Corporation (NASDAQ:NAVI) by 12.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,362 shares of the credit services provider’s stock after purchasing an additional 4,340 shares during the period. Mutual of America Capital Management LLC’s holdings in Navient Corporation were worth $576,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Creative Planning increased its holdings in shares of Navient Corporation by 7.2% during the second quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock worth $118,000 after buying an additional 472 shares in the last quarter. Ffcm LLC increased its holdings in shares of Navient Corporation by 144.5% during the second quarter. Ffcm LLC now owns 7,071 shares of the credit services provider’s stock worth $119,000 after buying an additional 4,179 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Navient Corporation by 8.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 7,564 shares of the credit services provider’s stock worth $126,000 after buying an additional 612 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Navient Corporation during the first quarter worth $153,000. Finally, Grove Bank & Trust increased its holdings in shares of Navient Corporation by 33.3% during the second quarter. Grove Bank & Trust now owns 9,280 shares of the credit services provider’s stock worth $154,000 after buying an additional 2,320 shares in the last quarter. Institutional investors and hedge funds own 92.94% of the company’s stock.
In other news, EVP John M. Kane sold 28,886 shares of the stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $15.00, for a total transaction of $433,290.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Christian M. Lown acquired 6,000 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were bought at an average cost of $12.35 per share, for a total transaction of $74,100.00. The disclosure for this purchase can be found here. 1.68% of the stock is owned by corporate insiders.
NAVI has been the topic of several analyst reports. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $20.00 price objective on shares of Navient Corporation in a research note on Friday, July 14th. BMO Capital Markets reissued a “hold” rating and issued a $16.00 price objective (down previously from $17.00) on shares of Navient Corporation in a research note on Thursday, July 20th. BidaskClub cut shares of Navient Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Jefferies Group LLC reissued a “hold” rating and issued a $16.00 price objective on shares of Navient Corporation in a research note on Monday, October 16th. Finally, Zacks Investment Research raised shares of Navient Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, September 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $18.27.
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Shares of Navient Corporation (NASDAQ:NAVI) opened at $12.22 on Friday. The company has a current ratio of 33.10, a quick ratio of 28.46 and a debt-to-equity ratio of 30.58. The company has a market cap of $3,214.01, a price-to-earnings ratio of 6.90 and a beta of 2.39. Navient Corporation has a 1 year low of $11.48 and a 1 year high of $17.95.
Navient Corporation (NASDAQ:NAVI) last issued its quarterly earnings results on Tuesday, October 17th. The credit services provider reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.05. The business had revenue of $343.00 million for the quarter, compared to analysts’ expectations of $361.33 million. Navient Corporation had a net margin of 10.88% and a return on equity of 14.09%. The business’s quarterly revenue was down 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 earnings per share. equities research analysts expect that Navient Corporation will post 1.76 EPS for the current fiscal year.
Navient Corporation announced that its board has authorized a share buyback program on Wednesday, October 4th that allows the company to repurchase outstanding shares. This repurchase authorization allows the credit services provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Navient Corporation Company Profile
Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).
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