Nelnet, Inc. (NYSE:NNI) Short Interest Update

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Nelnet, Inc. (NYSE:NNI) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totalling 239,700 shares, a decrease of 10.2% from the August 31st total of 267,000 shares. Based on an average daily trading volume, of 122,200 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.4% of the shares of the stock are short sold.

Shares of Nelnet stock traded up $3.29 during trading hours on Friday, reaching $63.64. 85,008 shares of the company’s stock were exchanged, compared to its average volume of 113,888. Nelnet has a 52-week low of $36.70 and a 52-week high of $66.79. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 20.60 and a beta of 0.65. The company has a fifty day moving average of $63.60 and a 200-day moving average of $52.84. The company has a current ratio of 72.70, a quick ratio of 72.70 and a debt-to-equity ratio of 8.43.

Nelnet (NYSE:NNI) last issued its quarterly earnings results on Thursday, August 6th. The credit services provider reported $2.28 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.14). Nelnet had a return on equity of 6.23% and a net margin of 7.25%. The business had revenue of $317.68 million for the quarter, compared to analysts’ expectations of $331.24 million. During the same period in the prior year, the company earned $1.32 EPS.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.26%.

Separately, ValuEngine raised Nelnet from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 28th.

In related news, insider William J. Munn sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $65.00, for a total value of $97,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 44.97% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of NNI. Amundi Pioneer Asset Management Inc. grew its stake in Nelnet by 147.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 12,135 shares of the credit services provider’s stock worth $669,000 after purchasing an additional 7,235 shares in the last quarter. Swiss National Bank lifted its holdings in Nelnet by 1.3% in the first quarter. Swiss National Bank now owns 38,600 shares of the credit services provider’s stock worth $1,753,000 after acquiring an additional 500 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Nelnet by 3.2% in the first quarter. JPMorgan Chase & Co. now owns 162,034 shares of the credit services provider’s stock worth $7,357,000 after acquiring an additional 4,959 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Nelnet by 11.1% in the first quarter. BNP Paribas Arbitrage SA now owns 5,990 shares of the credit services provider’s stock worth $272,000 after acquiring an additional 600 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in Nelnet by 17.1% in the first quarter. Deutsche Bank AG now owns 7,090 shares of the credit services provider’s stock worth $322,000 after acquiring an additional 1,037 shares during the last quarter. Institutional investors and hedge funds own 35.07% of the company’s stock.

About Nelnet

Nelnet, Inc provides education related products and services, and loan asset management services worldwide. The company's Loan Servicing and Systems is involved in loan servicing activities, such as loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing activities for student loan portfolio and third-party clients.

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