Nelnet (NYSE:NNI) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Nelnet, Inc. (NYSE:NNI)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $132.05 and traded as high as $133.67. Nelnet shares last traded at $133.5120, with a volume of 147,777 shares trading hands.

Analyst Ratings Changes

NNI has been the topic of a number of recent analyst reports. Zacks Research cut shares of Nelnet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings upgraded shares of Nelnet from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Nelnet currently has an average rating of “Hold” and a consensus price target of $140.00.

Nelnet Price Performance

The company has a quick ratio of 24.07, a current ratio of 24.07 and a debt-to-equity ratio of 2.14. The firm’s fifty day moving average price is $132.08 and its 200 day moving average price is $132.05. The stock has a market cap of $4.80 billion, a PE ratio of 11.63 and a beta of 0.79.

Nelnet (NYSE:NNI) last posted its earnings results on Thursday, May 7th. The credit services provider reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.66 by ($0.72). The company had revenue of $419.06 million for the quarter, compared to analysts’ expectations 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 expect that Nelnet, Inc. will post 8.6 EPS for the current fiscal year.

Nelnet Dividend Announcement

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

Institutional Investors Weigh In On Nelnet

Large investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in Nelnet by 20.9% during the first quarter. AQR Capital Management LLC now owns 8,575 shares of the credit services provider’s stock valued at $951,000 after buying an additional 1,485 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Nelnet by 2.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,694 shares of the credit services provider’s stock worth $1,297,000 after acquiring an additional 299 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Nelnet by 1,246.0% in the 1st quarter. Jones Financial Companies Lllp now owns 3,365 shares of the credit services provider’s stock worth $373,000 after acquiring an additional 3,115 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Nelnet by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 58,415 shares of the credit services provider’s stock worth $6,480,000 after acquiring an additional 3,923 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Nelnet by 583.3% during the 1st quarter. Jane Street Group LLC now owns 16,023 shares of the credit services provider’s stock worth $1,777,000 after acquiring an additional 13,678 shares in the last quarter. 33.51% of the stock is owned by institutional investors.

About Nelnet

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.