Nelnet, Inc. $NNI Shares Sold by Bandera Partners LLC

Bandera Partners LLC lessened its stake in Nelnet, Inc. (NYSE:NNI) by 53.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 47,159 shares of the credit services provider’s stock after selling 55,230 shares during the period. Nelnet comprises 2.8% of Bandera Partners LLC’s portfolio, making the stock its 13th largest holding. Bandera Partners LLC’s holdings in Nelnet were worth $6,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Bragg Financial Advisors Inc lifted its holdings in shares of Nelnet by 3.2% in the 4th quarter. Bragg Financial Advisors Inc now owns 212,618 shares of the credit services provider’s stock valued at $28,270,000 after purchasing an additional 6,620 shares during the last quarter. UBS Group AG increased its position in Nelnet by 66.4% during the third quarter. UBS Group AG now owns 191,826 shares of the credit services provider’s stock worth $24,051,000 after buying an additional 76,534 shares during the period. Sycale Advisors NY LLC lifted its stake in Nelnet by 3.4% in the fourth quarter. Sycale Advisors NY LLC now owns 152,441 shares of the credit services provider’s stock valued at $20,269,000 after buying an additional 5,080 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of Nelnet by 3.2% in the third quarter. Qube Research & Technologies Ltd now owns 99,917 shares of the credit services provider’s stock valued at $12,528,000 after acquiring an additional 3,077 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Nelnet by 8.3% during the 1st quarter. Bank of New York Mellon Corp now owns 81,435 shares of the credit services provider’s stock worth $10,502,000 after purchasing an additional 6,266 shares during the period. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NNI shares. Weiss Ratings raised Nelnet from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Zacks Research lowered Nelnet from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Nelnet currently has a consensus rating of “Hold” and an average target price of $140.00.

Nelnet Price Performance

Shares of NNI opened at $131.75 on Friday. Nelnet, Inc. has a twelve month low of $116.62 and a twelve month high of $144.38. The stock’s 50 day moving average is $130.98 and its two-hundred day moving average is $131.90. The firm has a market capitalization of $4.73 billion, a PE ratio of 11.48 and a beta of 0.78. The company has a current ratio of 24.07, a quick ratio of 24.07 and a debt-to-equity ratio of 2.14.

Nelnet (NYSE:NNI) last released its earnings results on Thursday, May 7th. The credit services provider reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.66 by ($0.72). The business had revenue of $419.06 million for the quarter, compared to analyst estimates of $443.84 million. Nelnet had a return on equity of 11.73% and a net margin of 18.45%. Research analysts anticipate that Nelnet, Inc. will post 8.18 earnings per share for the current year.

Nelnet Announces Dividend

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

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.