Equities researchers at Oppenheimer assumed coverage on shares of Navient (NASDAQ:NAVI) in a research note issued to investors on Monday. The brokerage set a “hold” rating on the credit services provider’s stock.
Other equities research analysts have also recently issued reports about the stock. ValuEngine upgraded shares of Navient from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Citigroup assumed coverage on shares of Navient in a research note on Monday, October 16th. They set a “buy” rating and a $20.00 target price on the stock. Zacks Investment Research raised shares of Navient from a “sell” rating to a “hold” rating in a research note on Tuesday, September 19th. Jefferies Group reissued a “hold” rating and set a $16.00 target price on shares of Navient in a research note on Monday, October 16th. Finally, UBS Group assumed coverage on shares of Navient in a research note on Monday. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $17.70.
Navient (NASDAQ:NAVI) traded down $0.32 on Monday, hitting $13.69. 3,288,875 shares of the stock traded hands, compared to its average volume of 2,836,125. Navient has a 52 week low of $11.48 and a 52 week high of $17.05. The company has a debt-to-equity ratio of 30.58, a quick ratio of 33.10 and a current ratio of 33.10. The firm has a market capitalization of $3,590.00, a PE ratio of 7.52 and a beta of 2.33.
Navient declared that its Board of Directors has initiated a stock buyback program on Wednesday, October 4th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the credit services provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
In other Navient news, CFO Christian M. Lown acquired 6,000 shares of the company’s stock in a transaction on Friday, October 20th. The shares were purchased at an average cost of $12.35 per share, with a total value of $74,100.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.68% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in NAVI. Coconut Grove Bank lifted its stake in shares of Navient by 107.1% in the first quarter. Coconut Grove Bank now owns 6,960 shares of the credit services provider’s stock valued at $103,000 after buying an additional 3,600 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in shares of Navient by 1.7% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 6,952 shares of the credit services provider’s stock valued at $103,000 after purchasing an additional 118 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Navient during the first quarter valued at about $112,000. Creative Planning lifted its position in shares of Navient by 7.2% during the second quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock valued at $118,000 after purchasing an additional 472 shares in the last quarter. Finally, Ffcm LLC lifted its position in shares of Navient by 144.5% during the second quarter. Ffcm LLC now owns 7,071 shares of the credit services provider’s stock valued at $119,000 after purchasing an additional 4,179 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.
Navient Company Profile
Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).
