Nelnet (NYSE:NNI) Reaches New 52-Week High – Here’s Why

Nelnet, Inc. (NYSE:NNI) reached a new 52-week high on Tuesday . The stock traded as high as $116.25 and last traded at $116.25, with a volume of 4376 shares trading hands. The stock had previously closed at $114.89.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NNI. StockNews.com cut Nelnet from a “buy” rating to a “hold” rating in a report on Monday, August 12th. TD Cowen upped their price target on shares of Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a research note on Monday, August 12th.

Nelnet Stock Performance

The firm has a market capitalization of $4.53 billion, a PE ratio of 29.90 and a beta of 0.92. The business has a 50-day simple moving average of $113.08 and a 200-day simple moving average of $107.49. The company has a debt-to-equity ratio of 2.97, a current ratio of 33.51 and a quick ratio of 33.51.

Nelnet (NYSE:NNI) last released its quarterly earnings results on Thursday, August 8th. The credit services provider reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.13). The company had revenue of $324.90 million for the quarter. Nelnet had a net margin of 7.44% and a return on equity of 4.71%. Equities research analysts expect that Nelnet, Inc. will post 5.82 earnings per share for the current fiscal year.

Institutional Trading of Nelnet

Institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Nelnet by 12.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,435 shares of the credit services provider’s stock worth $1,035,000 after purchasing an additional 1,274 shares during the period. BNP Paribas Financial Markets increased its position in Nelnet by 97.7% during the 1st quarter. BNP Paribas Financial Markets now owns 6,782 shares of the credit services provider’s stock valued at $642,000 after purchasing an additional 3,352 shares during the period. SG Americas Securities LLC bought a new stake in shares of Nelnet in the 1st quarter valued at about $209,000. Anchor Capital Advisors LLC lifted its position in shares of Nelnet by 3.1% in the 1st quarter. Anchor Capital Advisors LLC now owns 12,931 shares of the credit services provider’s stock worth $1,224,000 after purchasing an additional 383 shares during the period. Finally, ProShare Advisors LLC bought a new position in shares of Nelnet during the first quarter valued at approximately $220,000. Institutional investors own 33.51% of the company’s stock.

Nelnet Company Profile

Nelnet, Inc engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing services.