Navient Corporation (NAVI) CFO Buys $74,100.00 in Stock
Navient Corporation (NASDAQ:NAVI) CFO Christian M. Lown bought 6,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The stock was purchased at an average cost of $12.35 per share, with a total value of $74,100.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of Navient Corporation (NASDAQ NAVI) traded down 0.66% during mid-day trading on Tuesday, reaching $12.10. The company’s stock had a trading volume of 2,975,829 shares. Navient Corporation has a 12 month low of $11.48 and a 12 month high of $17.95. The company has a 50-day moving average of $13.54 and a 200-day moving average of $14.59. The company has a market cap of $3.28 billion, a P/E ratio of 6.69 and a beta of 2.48.
Navient Corporation (NASDAQ:NAVI) last announced its quarterly earnings results on Tuesday, October 17th. The credit services provider reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.05. The company had revenue of $343.00 million during the quarter, compared to the consensus estimate of $361.33 million. Navient Corporation had a net margin of 10.88% and a return on equity of 14.09%. The firm’s quarterly revenue was down 15.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 earnings per share. Equities research analysts forecast that Navient Corporation will post $1.74 earnings per share for the current fiscal year.
Navient Corporation announced that its Board of Directors has authorized a stock buyback plan on Wednesday, October 4th that permits the company to buyback shares. This buyback authorization permits the credit services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
NAVI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $20.00 target price on shares of Navient Corporation in a research report on Friday, July 14th. Zacks Investment Research lowered Navient Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 17th. BMO Capital Markets reissued a “hold” rating and set a $16.00 price objective (down from $17.00) on shares of Navient Corporation in a report on Thursday, July 20th. Jefferies Group LLC reissued a “hold” rating and set a $16.00 price objective on shares of Navient Corporation in a report on Friday, July 21st. Finally, BidaskClub lowered Navient Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Navient Corporation presently has a consensus rating of “Hold” and an average target price of $18.27.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Planning increased its position in shares of Navient Corporation by 7.2% during the second quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock valued at $118,000 after acquiring an additional 472 shares in the last quarter. Ffcm LLC increased its position in shares of Navient Corporation by 144.5% during the second quarter. Ffcm LLC now owns 7,071 shares of the credit services provider’s stock valued at $119,000 after acquiring an additional 4,179 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of Navient Corporation by 8.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 7,564 shares of the credit services provider’s stock valued at $126,000 after acquiring an additional 612 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Navient Corporation during the first quarter valued at approximately $112,000. Finally, Grove Bank & Trust increased its position in shares of Navient Corporation by 33.3% during the second quarter. Grove Bank & Trust now owns 9,280 shares of the credit services provider’s stock valued at $154,000 after acquiring an additional 2,320 shares in the last quarter. 93.10% of the stock is owned by institutional investors.
About Navient Corporation
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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