Navient (NAVI) Lowered to “Strong Sell” at BidaskClub
BidaskClub cut shares of Navient (NASDAQ:NAVI) from a sell rating to a strong sell rating in a research report sent to investors on Thursday morning.
A number of other brokerages also recently issued reports on NAVI. ValuEngine downgraded Navient from a strong-buy rating to a buy rating in a report on Friday, February 2nd. Jefferies Group reaffirmed a hold rating and issued a $15.00 price target on shares of Navient in a report on Thursday, January 25th. UBS Group began coverage on Navient in a report on Monday, January 8th. They issued a market perform rating for the company. Oppenheimer began coverage on Navient in a report on Monday, January 8th. They issued a hold rating for the company. Finally, JPMorgan Chase & Co. downgraded Navient from a neutral rating to an underweight rating in a report on Friday, January 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $17.45.
Shares of Navient (NASDAQ:NAVI) traded up $0.06 on Thursday, reaching $13.22. The company had a trading volume of 235,256 shares, compared to its average volume of 3,023,441. The company has a debt-to-equity ratio of 30.13, a current ratio of 22.35 and a quick ratio of 22.35. The firm has a market capitalization of $3,466.19, a P/E ratio of 7.43, a price-to-earnings-growth ratio of 1.15 and a beta of 2.29. Navient has a 52-week low of $11.48 and a 52-week high of $16.97.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.84%. The ex-dividend date is Thursday, March 1st. Navient’s payout ratio is currently 63.37%.
In other news, SVP Stephen M. Hauber sold 17,423 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $14.40, for a total value of $250,891.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.68% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Advisor Group Inc. boosted its holdings in shares of Navient by 9.7% in the fourth quarter. Advisor Group Inc. now owns 42,905 shares of the credit services provider’s stock valued at $571,000 after acquiring an additional 3,776 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI boosted its holdings in shares of Navient by 31.3% in the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 17,989 shares of the credit services provider’s stock valued at $240,000 after acquiring an additional 4,289 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of Navient by 0.7% in the third quarter. Allianz Asset Management GmbH now owns 592,542 shares of the credit services provider’s stock valued at $8,900,000 after acquiring an additional 4,290 shares during the period. Mutual of America Capital Management LLC boosted its holdings in shares of Navient by 12.8% in the third quarter. Mutual of America Capital Management LLC now owns 38,362 shares of the credit services provider’s stock valued at $576,000 after acquiring an additional 4,340 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Navient by 6.8% in the third quarter. Nordea Investment Management AB now owns 70,598 shares of the credit services provider’s stock valued at $1,060,000 after acquiring an additional 4,476 shares during the period. 96.59% of the stock is owned by institutional investors and hedge funds.
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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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