Compass Point Downgrades Navient Corporation (NAVI) to Neutral
Navient Corporation (NASDAQ:NAVI) was downgraded by Compass Point from a “buy” rating to a “neutral” rating in a report released on Thursday, Marketbeat reports. They presently have a $15.50 price objective on the credit services provider’s stock, down from their prior price objective of $16.50. Compass Point’s price target points to a potential upside of 22.97% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the company. BidaskClub cut Navient Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Jefferies Group LLC reissued a “hold” rating and issued a $16.00 price objective on shares of Navient Corporation in a research note on Friday, July 21st. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $20.00 price objective on shares of Navient Corporation in a research note on Friday, July 14th. Zacks Investment Research raised Navient Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $16.00 price objective (down previously from $17.00) on shares of Navient Corporation in a research note on Thursday, July 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Navient Corporation presently has a consensus rating of “Hold” and an average target price of $18.30.
Shares of Navient Corporation (NASDAQ:NAVI) traded down 14.252% during trading on Thursday, hitting $12.605. The company had a trading volume of 15,151,923 shares. Navient Corporation has a 12-month low of $12.55 and a 12-month high of $17.95. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 6.534 and a beta of 2.48. The stock has a 50-day moving average of $14.07 and a 200 day moving average of $14.80.
Navient Corporation (NASDAQ:NAVI) last announced its quarterly earnings data on Tuesday, July 18th. The credit services provider reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.02. Navient Corporation had a return on equity of 14.05% and a net margin of 11.50%. The firm had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $331.67 million. During the same quarter last year, the firm posted $0.47 earnings per share. The company’s revenue for the quarter was down 15.9% compared to the same quarter last year. On average, analysts predict that Navient Corporation will post $1.76 EPS for the current fiscal year.
Navient Corporation declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 4th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the credit services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, EVP John M. Kane sold 28,886 shares of Navient Corporation stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $15.00, for a total transaction of $433,290.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.68% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. Bank of Montreal Can boosted its position in shares of Navient Corporation by 45.1% during the second quarter. Bank of Montreal Can now owns 1,154,972 shares of the credit services provider’s stock valued at $19,231,000 after buying an additional 359,227 shares during the last quarter. Bank of Nova Scotia purchased a new position in shares of Navient Corporation during the first quarter valued at approximately $884,000. ARGI Investment Services LLC boosted its position in shares of Navient Corporation by 12.2% during the second quarter. ARGI Investment Services LLC now owns 95,127 shares of the credit services provider’s stock valued at $1,584,000 after buying an additional 10,363 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Navient Corporation by 16.3% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 74,114 shares of the credit services provider’s stock valued at $1,234,000 after buying an additional 10,395 shares during the last quarter. Finally, Chicago Equity Partners LLC boosted its position in shares of Navient Corporation by 109.8% during the second quarter. Chicago Equity Partners LLC now owns 150,025 shares of the credit services provider’s stock valued at $2,498,000 after buying an additional 78,520 shares during the last quarter. 93.02% of the stock is currently owned by institutional investors.
Navient Corporation Company Profile
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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