Navient (NASDAQ:NAVI) Trading Down 8.3%
Navient Co. (NASDAQ:NAVI)’s stock price dropped 8.3% on Friday . The stock traded as low as $9.54 and last traded at $9.56. Approximately 3,572,530 shares were traded during mid-day trading, an increase of 29% from the average daily volume of 2,775,385 shares. The stock had previously closed at $10.42.
Several equities analysts have commented on the stock. Wedbush raised shares of Navient from a “neutral” rating to an “outperform” rating and set a $12.00 target price on the stock in a research note on Thursday, October 22nd. JPMorgan Chase & Co. raised their target price on shares of Navient from $9.50 to $11.50 and gave the company an “overweight” rating in a research note on Friday, October 9th. Zacks Investment Research raised shares of Navient from a “strong sell” rating to a “hold” rating and set a $8.50 target price on the stock in a research note on Monday, July 27th. BidaskClub raised shares of Navient from a “hold” rating to a “buy” rating in a research note on Thursday, November 5th. Finally, Barclays raised their target price on shares of Navient from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, October 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $11.63.
The firm’s fifty day simple moving average is $9.39 and its 200 day simple moving average is $8.30. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 4.88 and a beta of 1.83. The company has a debt-to-equity ratio of 34.94, a current ratio of 12.02 and a quick ratio of 11.82.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 6.69%. The ex-dividend date is Thursday, December 3rd. Navient’s dividend payout ratio is currently 24.24%.
Several hedge funds have recently bought and sold shares of NAVI. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Navient by 72.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 77,804 shares of the credit services provider’s stock worth $899,000 after purchasing an additional 32,720 shares during the period. SG Americas Securities LLC acquired a new stake in Navient in the second quarter valued at approximately $1,157,000. First Trust Advisors LP lifted its stake in Navient by 120.5% in the second quarter. First Trust Advisors LP now owns 1,574,088 shares of the credit services provider’s stock valued at $11,066,000 after acquiring an additional 860,304 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in Navient in the second quarter valued at approximately $1,262,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Navient by 23.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,254 shares of the credit services provider’s stock valued at $163,000 after acquiring an additional 4,365 shares during the last quarter. Institutional investors and hedge funds own 95.93% of the company’s stock.
About Navient (NASDAQ:NAVI)
Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates through four segments: Federal Education Loans, Consumer Lending, Business Processing, and Other.
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