Navient (NASDAQ:NAVI) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued to clients and investors on Friday, Marketbeat reports.
A number of other analysts also recently issued reports on the stock. Jefferies Group restated a “hold” rating and set a $14.00 price target on shares of Navient in a report on Thursday. Zacks Investment Research downgraded shares of Navient from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Oppenheimer assumed coverage on shares of Navient in a report on Monday, January 8th. They set a “hold” rating for the company. UBS Group assumed coverage on shares of Navient in a report on Monday, January 8th. They set a “market perform” rating for the company. Finally, ValuEngine upgraded shares of Navient from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Navient presently has an average rating of “Hold” and an average target price of $17.36.
Shares of Navient (NASDAQ:NAVI) opened at $13.88 on Friday. The stock has a market cap of $3,650.61, a P/E ratio of 7.84, a PEG ratio of 1.25 and a beta of 2.37. The company has a current ratio of 33.10, a quick ratio of 33.10 and a debt-to-equity ratio of 30.58. Navient has a 1-year low of $11.48 and a 1-year high of $17.05.
Navient declared that its board has authorized a share buyback program on Wednesday, October 4th that authorizes the company to buyback shares. This buyback authorization authorizes the credit services provider to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
In related news, CFO Christian M. Lown acquired 6,000 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was purchased at an average price of $12.35 per share, with a total value of $74,100.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.68% of the company’s stock.
Several large investors have recently bought and sold shares of NAVI. JPMorgan Chase & Co. boosted its position in shares of Navient by 75.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,443,684 shares of the credit services provider’s stock worth $40,687,000 after purchasing an additional 1,054,580 shares during the period. W. E. Donoghue & Co. LLC purchased a new position in Navient in the 2nd quarter valued at approximately $17,303,000. Parametric Portfolio Associates LLC boosted its position in Navient by 56.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,304,386 shares of the credit services provider’s stock valued at $38,368,000 after buying an additional 831,209 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Navient by 27.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 2,022,265 shares of the credit services provider’s stock valued at $30,375,000 after buying an additional 436,644 shares during the period. Finally, Koch Industries Inc. purchased a new position in Navient in the 2nd quarter valued at approximately $407,000. 92.67% of the stock is owned by hedge funds and other institutional investors.
About Navient
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).
