Millennium Management LLC lessened its stake in shares of Navient Corp (NASDAQ:NAVI) by 67.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 485,062 shares of the credit services provider’s stock after selling 985,035 shares during the period. Millennium Management LLC owned about 0.18% of Navient worth $6,320,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new stake in shares of Navient during the second quarter valued at approximately $125,000. Yorktown Management & Research Co Inc bought a new position in Navient in the second quarter worth approximately $130,000. Nomura Asset Management Co. Ltd. bought a new position in Navient in the first quarter worth approximately $138,000. Shufro Rose & Co. LLC bought a new position in Navient in the second quarter worth approximately $139,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Navient in the second quarter worth approximately $151,000. 91.83% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:NAVI opened at $12.33 on Friday. The company has a market capitalization of $3.57 billion, a P/E ratio of 6.89 and a beta of 2.15. Navient Corp has a 52 week low of $11.48 and a 52 week high of $15.02. The company has a quick ratio of 21.92, a current ratio of 21.92 and a debt-to-equity ratio of 26.35.
Navient (NASDAQ:NAVI) last issued its quarterly earnings data on Tuesday, July 24th. The credit services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. Navient had a net margin of 5.72% and a return on equity of 13.95%. The company had revenue of $330.00 million during the quarter, compared to the consensus estimate of $314.00 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. Navient’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, sell-side analysts predict that Navient Corp will post 1.92 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Friday, September 7th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 5.19%. The ex-dividend date was Thursday, September 6th. Navient’s dividend payout ratio is currently 35.75%.
A number of equities analysts recently commented on NAVI shares. Zacks Investment Research raised shares of Navient from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Monday, August 6th. ValuEngine downgraded shares of Navient from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, BidaskClub downgraded shares of Navient from a “hold” rating to a “sell” rating in a research note on Friday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $16.11.
Navient Company Profile
Navient Corporation provides asset management and business processing services to education, health care, and government clients at the federal, state, and local levels in the United States. The company operates in three segments: Federal Family Education Loan Program (FFELP) Loans, Private Education Loans, and Business Services.
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