The stock last traded at $58.71 quite a bit above $50.49, the stock’s 50 day moving average and which is significantly higher than the 200 day moving average of $46.58. The 50 day moving average was up $8.22 whereas the 200 day moving average was up $12.13 or +26.04%. (NYSE:NNI) shares saw heavy trading volume with 166K shares changing hands by the end of trading on Tuesday. Trading volume was up 6.34% over the stocks average daily volume.
Short traders are feeling a little more bullish on Nelnet, Inc. as inferred by the change in short interest. The firm realized a fall in short interest of -20.72% as of the latest report on September 29, 2017. Short interest decreased from 473,042 to 375,019 over that timeframe. Days to cover decreased -1.0 to 4.0 and the percentage of shorted shares was 0.01% on September 29.
Here is a rundown on some insider market activity for Nelnet, Inc. (NYSE:NNI). William J. Munn, Secy/Chief Legal Off/Gen Coun reported the sale of 1,000 shares of (NNI). The shares were purchased at an average price of $55.00. Munn now owns $1,345,685 of the stock per the Form 4 SEC filing. Secy/Chief Legal Off/Gen Coun William J. Munn sold 1,000 shares at an average price of $50.00 on September 26th. That brings the Secy/Chief Legal Off/Gen Coun’s holdings to $1,273,350 as reported to the SEC.
These funds have shifted positions in (NNI). As of quarter end Bank Of Montreal /can/ had sold a total of 27,706 shares trimming its stake by 99.6%. The value of the investment in NNI went from $1,308,000 to $6,000 a change of 99.5% quarter over quarter. Denali Advisors LLC reduced its investment by selling 13 shares a decrease of 14.0% as of 09/30/2017. Denali Advisors LLC now holds 80 shares with a value of $4,000. The value of the position overall is down by 0.0%.
Shell Asset Management CO downsized its position by shedding 1,200 shares a decrease of 2.6% from 06/30/2017 to 09/30/2017. Shell Asset Management CO owns 45,434 shares worth $2,294,000. The total value of its holdings increased 4.7%. As of the end of the quarter Farmers & Merchants Investments Inc had disposed of 184,720 shares trimming its holdings by 10.1%. The value of the total investment in Nelnet, Inc. decreased from $86,007,000 to $83,063,000 a change of $2,944,000 quarter to quarter.
On August 9 the stock rating was downgraded to “Neutral” from “Buy” in a report from Compass Point. October 20 investment analysts at Credit Suisse kept the stock rating at “Neutral” and moved up the price target from $48.00 to $55.00.
In the market the company is trading down by 0.66%% since yesterday’s close of 59.1. The company announced a dividend for shareholders which was paid on Friday the 15th of September 2017. The dividend payment was $0.140 per share for the quarter or $0.56 on an annualized basis. The dividend yield was $0.99. The ex-dividend date was Wednesday the 30th of August 2017.
The P/E ratio is currently 9.52 and market capitalization is 2.44B. In the last earnings report the EPS was $6.17 and is projected to be $4.47 for the current year with 41,539,000 shares presently outstanding. Analysts expect next quarter’s EPS will be $1.03 and the next full year EPS is projected to be $4.68.
Nelnet, Inc., launched on December 21, 1977, focuses on delivering education-related products and services and student loan asset management. The Company is involved in student loan servicing, tuition payment processing and school information systems, and communications. The Business’s segments include Loan Systems and Servicing, Tuition Payment Processing and Campus Commerce, Communications, Asset Generation and Management, and Corporate and Other Activities. The Company earns fee-based revenue through its Loan Systems and Servicing, Tuition Payment Processing, and Communications operating segments. In addition, the Company earns interest income on its student loan portfolio in its Asset Generation and Management operating segment. Corporate and Other Activities include real estate and other investments..