Nelnet (NYSE:NNI) Upgraded to Buy at StockNews.com

Nelnet (NYSE:NNI) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Nelnet Trading Up 2.1 %

NYSE:NNI traded up $2.25 during trading hours on Wednesday, hitting $107.42. 38,993 shares of the stock were exchanged, compared to its average volume of 37,333. The company has a market capitalization of $3.90 billion, a P/E ratio of 35.34 and a beta of 0.91. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78. The company’s 50 day moving average is $107.73 and its two-hundred day moving average is $109.77. Nelnet has a twelve month low of $82.58 and a twelve month high of $127.32.

Insiders Place Their Bets

In other Nelnet news, insider William J. Munn sold 2,500 shares of Nelnet stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $108.89, for a total transaction of $272,225.00. Following the completion of the sale, the insider now owns 9,354 shares of the company’s stock, valued at approximately $1,018,557.06. The trade was a 21.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 50.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in Nelnet by 0.4% in the third quarter. Geode Capital Management LLC now owns 360,493 shares of the credit services provider’s stock valued at $40,846,000 after purchasing an additional 1,572 shares during the last quarter. American Century Companies Inc. grew its position in shares of Nelnet by 4.9% during the 2nd quarter. American Century Companies Inc. now owns 122,055 shares of the credit services provider’s stock worth $12,310,000 after buying an additional 5,752 shares during the period. Bar Harbor Wealth Management increased its stake in shares of Nelnet by 2.4% in the 4th quarter. Bar Harbor Wealth Management now owns 109,666 shares of the credit services provider’s stock valued at $11,713,000 after acquiring an additional 2,577 shares during the last quarter. Crawford Fund Management LLC raised its position in shares of Nelnet by 0.4% in the 3rd quarter. Crawford Fund Management LLC now owns 57,787 shares of the credit services provider’s stock valued at $6,546,000 after acquiring an additional 217 shares during the period. Finally, Guardian Wealth Management Inc. raised its position in shares of Nelnet by 1.0% in the 3rd quarter. Guardian Wealth Management Inc. now owns 46,886 shares of the credit services provider’s stock valued at $5,311,000 after acquiring an additional 459 shares during the period. Institutional investors and hedge funds 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.