Nelnet (NYSE:NNI) Shares Pass Above 200-Day Moving Average – Time to Sell?

Nelnet, Inc. (NYSE:NNI) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $132.18 and traded as high as $136.11. Nelnet shares last traded at $135.3150, with a volume of 114,858 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Nelnet from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Zacks Research downgraded shares of Nelnet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Nelnet presently has a consensus rating of “Hold” and an average target price of $140.00.

Nelnet Stock Up 0.5%

The business has a 50-day simple moving average of $131.68 and a two-hundred day simple moving average of $132.18. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 11.79 and a beta of 0.78. The company has a quick ratio of 24.07, a current ratio of 24.07 and a debt-to-equity ratio of 2.14.

Nelnet (NYSE:NNI) last issued its quarterly earnings data on Thursday, May 7th. The credit services provider reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.72). The company had revenue of $419.06 million for the quarter, compared to analyst estimates of $443.84 million. Nelnet had a net margin of 18.45% and a return on equity of 11.73%. As a group, equities analysts forecast that Nelnet, Inc. will post 8.6 earnings per share for the current fiscal year.

Nelnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.32 dividend on an annualized basis and a yield of 1.0%. Nelnet’s dividend payout ratio is presently 11.50%.

Hedge Funds Weigh In On Nelnet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NNI. Versant Capital Management Inc lifted its stake in shares of Nelnet by 144.2% in the second quarter. Versant Capital Management Inc now owns 591 shares of the credit services provider’s stock worth $79,000 after buying an additional 349 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Nelnet by 19.3% during the 1st quarter. Bank of America Corp DE now owns 14,206 shares of the credit services provider’s stock worth $1,832,000 after buying an additional 2,295 shares during the period. Edgestream Partners L.P. grew its stake in Nelnet by 47.9% in the 1st quarter. Edgestream Partners L.P. now owns 50,718 shares of the credit services provider’s stock valued at $6,541,000 after buying an additional 16,428 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Nelnet by 51.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 445 shares of the credit services provider’s stock valued at $57,000 after buying an additional 151 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Nelnet by 7.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 7,690 shares of the credit services provider’s stock valued at $992,000 after buying an additional 555 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.