Nelnet, Inc. (NYSE:NNI) major shareholder Angie Muhleisen sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $56.42, for a total value of $56,420.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
NNI stock traded up $0.36 on Thursday, reaching $56.64. 25,600 shares of the company’s stock were exchanged, compared to its average volume of 69,806. Nelnet, Inc. has a twelve month low of $44.02 and a twelve month high of $64.00. The firm has a market capitalization of $2.32 billion, a PE ratio of 11.22 and a beta of 0.83. The company has a debt-to-equity ratio of 9.83, a current ratio of 112.77 and a quick ratio of 112.77.
Nelnet (NYSE:NNI) last announced its quarterly earnings data on Tuesday, August 7th. The credit services provider reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.02. Nelnet had a return on equity of 9.45% and a net margin of 17.02%. The firm had revenue of $257.96 million for the quarter.
NNI has been the topic of a number of recent analyst reports. TheStreet raised Nelnet from a “d+” rating to a “c” rating in a report on Thursday, May 24th. ValuEngine lowered Nelnet from a “buy” rating to a “hold” rating in a report on Thursday, July 26th.
A number of hedge funds have recently made changes to their positions in NNI. Zebra Capital Management LLC purchased a new stake in Nelnet during the second quarter worth $588,000. Burney Co. purchased a new stake in Nelnet during the second quarter worth $220,000. United Services Automobile Association boosted its position in Nelnet by 58.8% during the second quarter. United Services Automobile Association now owns 35,294 shares of the credit services provider’s stock worth $5,672,000 after purchasing an additional 13,074 shares in the last quarter. Citadel Advisors LLC purchased a new stake in Nelnet during the second quarter worth $298,000. Finally, Chicago Equity Partners LLC purchased a new stake in Nelnet during the second quarter worth $2,355,000. 38.80% of the stock is currently owned by hedge funds and other institutional investors.
Nelnet, Inc provides education related products and services, and loan asset management services worldwide. The company's Loan Systems and Servicing segment is involved in loan servicing activities, such as loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing activities for student loan portfolio and third-party clients.
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