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

Nelnet (NYSE:NNI) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Nelnet Stock Up 0.4 %

Shares of NYSE:NNI opened at $119.57 on Tuesday. The firm has a fifty day moving average price of $110.40 and a two-hundred day moving average price of $110.94. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. Nelnet has a one year low of $86.64 and a one year high of $127.32. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 39.33 and a beta of 0.91.

Nelnet (NYSE:NNI) last announced its quarterly earnings results on Thursday, February 27th. The credit services provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.23 by $0.21. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. The firm had revenue of $401.61 million during the quarter, compared to the consensus estimate of $335.00 million. Analysts anticipate that Nelnet will post 4.52 EPS for the current fiscal year.

Institutional Trading of Nelnet

Hedge funds have recently made changes to their positions in the stock. Kingsview Wealth Management LLC bought a new stake in shares of Nelnet during the 3rd quarter worth $2,613,000. MML Investors Services LLC lifted its holdings in shares of Nelnet by 7.4% during the 3rd quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider’s stock worth $258,000 after acquiring an additional 157 shares during the last quarter. Barclays PLC lifted its holdings in shares of Nelnet by 127.4% during the 3rd quarter. Barclays PLC now owns 28,996 shares of the credit services provider’s stock worth $3,285,000 after acquiring an additional 16,245 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Nelnet during the 3rd quarter worth $323,000. Finally, Edgestream Partners L.P. bought a new stake in shares of Nelnet during the 3rd quarter worth $851,000. 33.51% of the stock is owned by institutional investors.

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.