Navient Corp Short Interest Up 96,420.5% in May (NAVI)
Shares of Navient Corp (NASDAQ:NAVI) saw a large increase in short interest in May. As of May 15th, there was short interest totalling 14,830,370 shares, an increase of 96,420.5% from the April 30th total of 15,365 shares, AmericanBankingNews.com reports. Currently, 3.5% of the company’s stock are sold short. Based on an average trading volume of 5,815,478 shares, the days-to-cover ratio is currently 2.6 days.
NAVI has been the subject of a number of recent research reports. Analysts at Janney Montgomery Scott initiated coverage on shares of Navient Corp in a research note on Tuesday, May 20th. They set a “buy” rating and a $18.00 price target on the stock. Separately, analysts at Buckingham Research initiated coverage on shares of Navient Corp in a research note on Tuesday, May 13th. They set a “buy” rating on the stock. Finally, analysts at Buckingham Research initiated coverage on shares of Navient Corp in a research note on Tuesday, May 13th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $18.00.
Shares of Navient Corp (NASDAQ:NAVI) opened at 15.68 on Friday. Navient Corp has a 1-year low of $15.00 and a 1-year high of $17.38. The stock has a 50-day moving average of $16.33 and a 200-day moving average of $16.33. The company has a market cap of $6.672 billion and a price-to-earnings ratio of 5.02.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Wednesday, June 4th.
Navient Corporation holds the portfolio of education loans insured or guaranteed under the Federal Family Education Loan Program (NASDAQ:NAVI), as well as the portfolio of private education loans (Private Education Loans).
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