Caxton Associates LLP Increases Stock Holdings in Navient Corporation $NAVI

Caxton Associates LLP increased its stake in shares of Navient Corporation (NASDAQ:NAVI) by 38.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 222,396 shares of the credit services provider’s stock after purchasing an additional 61,589 shares during the quarter. Caxton Associates LLP owned 0.24% of Navient worth $1,819,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Orbis Allan Gray Ltd lifted its position in Navient by 23.2% in the second quarter. Orbis Allan Gray Ltd now owns 2,848,718 shares of the credit services provider’s stock worth $40,167,000 after buying an additional 536,933 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Navient by 20.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,484,742 shares of the credit services provider’s stock valued at $32,302,000 after acquiring an additional 418,161 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Navient by 37.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,543,796 shares of the credit services provider’s stock valued at $20,069,000 after acquiring an additional 423,381 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Navient by 2.5% in the fourth quarter. Wellington Management Group LLP now owns 1,499,113 shares of the credit services provider’s stock valued at $19,488,000 after acquiring an additional 36,528 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Navient by 70.0% in the third quarter. Millennium Management LLC now owns 888,186 shares of the credit services provider’s stock valued at $11,680,000 after acquiring an additional 365,677 shares during the period. Hedge funds and other institutional investors own 97.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NAVI shares. Zacks Research upgraded shares of Navient from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Navient in a report on Wednesday, June 24th. Morgan Stanley reduced their price objective on shares of Navient from $12.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 16th. Bank of America assumed coverage on shares of Navient in a research note on Monday, April 20th. They issued an “underperform” rating and a $7.00 price objective for the company. Finally, Barclays boosted their target price on Navient from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Five analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $9.14.

Navient Stock Down 2.5%

NASDAQ:NAVI opened at $8.23 on Friday. The company has a market cap of $773.54 million, a price-to-earnings ratio of -13.06 and a beta of 1.19. Navient Corporation has a twelve month low of $7.33 and a twelve month high of $14.20. The company has a current ratio of 7.67, a quick ratio of 7.67 and a debt-to-equity ratio of 16.49. The stock has a fifty day simple moving average of $8.28 and a 200-day simple moving average of $9.04.

Navient (NASDAQ:NAVI) last posted its quarterly earnings results on Tuesday, April 28th. The credit services provider reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The firm had revenue of $152.00 million for the quarter, compared to analysts’ expectations of $141.47 million. Navient had a negative net margin of 1.94% and a positive return on equity of 4.39%. During the same period in the prior year, the business posted $0.25 earnings per share. Analysts anticipate that Navient Corporation will post 0.71 EPS for the current year.

Navient Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, June 5th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend was Friday, June 5th. Navient’s payout ratio is -101.59%.

Navient Company Profile

Navient Corporation (NASDAQ: NAVI) is a specialized provider of asset management and business processing solutions, with a primary focus on student loan servicing. Established in 2014 through the separation from Sallie Mae, Navient assumed responsibility for servicing federal and private education loans, positioning itself as one of the largest servicers of higher education debt in the United States.

The company’s core activities center on federal student loan servicing under contracts with the U.S.