TD Cowen Forecasts Strong Price Appreciation for Nelnet (NYSE:NNI) Stock

Nelnet (NYSE:NNI) had its price objective hoisted by equities research analysts at TD Cowen from $135.00 to $140.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the credit services provider’s stock. TD Cowen’s target price would suggest a potential downside of 0.25% from the stock’s current price.

Several other research firms have also issued reports on NNI. Weiss Ratings reissued a “hold (c+)” rating on shares of Nelnet in a research report on Wednesday, October 8th. Wall Street Zen downgraded Nelnet from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Cowen reiterated a “hold” rating on shares of Nelnet in a research report on Thursday. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Nelnet has a consensus rating of “Hold” and a consensus target price of $140.00.

Nelnet Price Performance

Shares of NNI stock opened at $140.35 on Thursday. Nelnet has a 12 month low of $98.15 and a 12 month high of $142.87. The company has a market capitalization of $5.04 billion, a P/E ratio of 11.79 and a beta of 0.83. The stock has a 50 day moving average of $132.11 and a two-hundred day moving average of $128.07. The company has a current ratio of 28.98, a quick ratio of 28.98 and a debt-to-equity ratio of 2.18.

Nelnet (NYSE:NNI) last issued its earnings results on Thursday, November 6th. The credit services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $1.43. Nelnet had a return on equity of 12.58% and a net margin of 18.96%.The business had revenue of $427.76 million during the quarter, compared to analyst estimates of $372.00 million. As a group, equities analysts expect that Nelnet will post 4.52 EPS for the current year.

Insider Buying and Selling at Nelnet

In other news, Director Deun Jona M. Van sold 400 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $128.95, for a total value of $51,580.00. Following the completion of the sale, the director directly owned 704 shares in the company, valued at approximately $90,780.80. This trade represents a 36.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 50.90% of the company’s stock.

Institutional Investors Weigh In On Nelnet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC bought a new position in shares of Nelnet in the second quarter worth about $29,000. Financial Management Professionals Inc. bought a new position in Nelnet in the 2nd quarter worth approximately $32,000. Maseco LLP acquired a new position in Nelnet during the 2nd quarter worth $45,000. Osaic Holdings Inc. boosted its position in Nelnet by 170.3% in the 2nd quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider’s stock valued at $45,000 after buying an additional 235 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Nelnet by 189.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 368 shares of the credit services provider’s stock valued at $46,000 after buying an additional 241 shares during the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

Nelnet Company Profile

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.