Nelnet, Inc. $NNI is Sycale Advisors NY LLC’s 9th Largest Position

Sycale Advisors NY LLC lessened its holdings in Nelnet, Inc. (NYSE:NNI) by 34.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 100,479 shares of the credit services provider’s stock after selling 51,962 shares during the quarter. Nelnet makes up 6.5% of Sycale Advisors NY LLC’s holdings, making the stock its 9th largest holding. Sycale Advisors NY LLC’s holdings in Nelnet were worth $12,958,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wedge Capital Management L L P NC lifted its position in shares of Nelnet by 0.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 8,742 shares of the credit services provider’s stock worth $1,162,000 after purchasing an additional 81 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Nelnet by 6.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,353 shares of the credit services provider’s stock worth $164,000 after purchasing an additional 83 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Nelnet by 0.6% in the third quarter. Captrust Financial Advisors now owns 16,336 shares of the credit services provider’s stock worth $2,048,000 after purchasing an additional 94 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Nelnet by 0.6% in the third quarter. Alliancebernstein L.P. now owns 19,158 shares of the credit services provider’s stock worth $2,402,000 after purchasing an additional 121 shares during the last quarter. Finally, CWM LLC increased its stake in Nelnet by 7.1% in the 4th quarter. CWM LLC now owns 1,900 shares of the credit services provider’s stock worth $253,000 after buying an additional 126 shares during the period. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NNI shares. Zacks Research lowered shares of Nelnet from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of Nelnet from a “hold (c)” rating to a “buy (b)” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $140.00.

Nelnet Price Performance

Shares of NNI stock opened at $132.41 on Thursday. Nelnet, Inc. has a twelve month low of $116.62 and a twelve month high of $144.38. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 11.53 and a beta of 0.78. The stock has a fifty day simple moving average of $130.85 and a two-hundred day simple moving average of $131.88. The company has a current ratio of 24.07, a quick ratio of 24.07 and a debt-to-equity ratio of 2.14.

Nelnet (NYSE:NNI) last posted its quarterly earnings results on Thursday, May 7th. The credit services provider reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.72). The firm had revenue of $419.06 million for the quarter, compared to the consensus estimate of $443.84 million. Nelnet had a return on equity of 11.73% and a net margin of 18.45%. On average, analysts predict that Nelnet, Inc. will post 8.18 EPS for the current fiscal year.

Nelnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, June 1st. Nelnet’s dividend payout ratio is presently 11.50%.

Nelnet Company Profile

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.