StockNews.com Downgrades Nelnet (NYSE:NNI) to Hold

Nelnet (NYSE:NNI) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Nelnet Trading Up 1.6 %

Shares of NYSE:NNI traded up $1.73 during mid-day trading on Tuesday, hitting $111.35. The company had a trading volume of 28,131 shares, compared to its average volume of 39,261. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. Nelnet has a one year low of $83.75 and a one year high of $127.32. The firm has a fifty day moving average price of $107.84 and a 200 day moving average price of $110.30. The company has a market capitalization of $4.04 billion, a PE ratio of 36.63 and a beta of 0.91.

Nelnet (NYSE:NNI) last posted its quarterly earnings results on Thursday, November 7th. The credit services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($1.02). The company had revenue of $477.80 million during the quarter. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. During the same period in the prior year, the business posted $1.15 earnings per share. As a group, research analysts forecast that Nelnet will post 4.52 EPS for the current year.

Insider Activity

In other news, insider William J. Munn sold 2,500 shares of Nelnet stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $108.89, for a total transaction of $272,225.00. Following the completion of the transaction, the insider now directly owns 9,354 shares in the company, valued at $1,018,557.06. This trade represents a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 50.10% of the company’s stock.

Hedge Funds Weigh In On Nelnet

Large investors have recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc bought a new stake in Nelnet during the 4th quarter worth approximately $38,000. Blue Trust Inc. boosted its position in shares of Nelnet by 1,293.1% during the fourth quarter. Blue Trust Inc. now owns 404 shares of the credit services provider’s stock valued at $46,000 after buying an additional 375 shares during the last quarter. FMR LLC grew its holdings in Nelnet by 20.3% during the third quarter. FMR LLC now owns 556 shares of the credit services provider’s stock worth $63,000 after buying an additional 94 shares in the last quarter. Quest Partners LLC raised its position in Nelnet by 34,283.3% in the 3rd quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider’s stock valued at $234,000 after buying an additional 2,057 shares during the last quarter. Finally, MML Investors Services LLC boosted its holdings in Nelnet by 7.4% during the 3rd quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider’s stock worth $258,000 after acquiring an additional 157 shares during the last quarter. Institutional investors own 33.51% of the company’s stock.

About Nelnet

Nelnet, Inc engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing services.