Navient (NAVI) Hits New 12-Month Low at $10.38

Navient Corp (NASDAQ:NAVI) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $10.38 and last traded at $10.67, with a volume of 1533274 shares trading hands. The stock had previously closed at $10.82.

A number of brokerages recently issued reports on NAVI. ValuEngine lowered Navient from a “hold” rating to a “sell” rating in a research report on Saturday, October 27th. BidaskClub lowered Navient from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Zacks Investment Research lowered Navient from a “buy” rating to a “hold” rating in a research report on Monday, October 29th. Citigroup dropped their target price on Navient from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, October 25th. Finally, Oppenheimer reissued a “hold” rating on shares of Navient in a research report on Thursday, October 25th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Navient has an average rating of “Hold” and an average price target of $15.55.

The stock has a market cap of $2.79 billion, a PE ratio of 5.94 and a beta of 2.11. The company has a debt-to-equity ratio of 25.59, a current ratio of 19.74 and a quick ratio of 19.74.

Navient (NASDAQ:NAVI) last announced its earnings results on Tuesday, October 23rd. The credit services provider reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.04. Navient had a return on equity of 13.43% and a net margin of 4.29%. The business had revenue of $327.00 million for the quarter, compared to analyst estimates of $310.17 million. During the same quarter last year, the firm earned $0.55 EPS. Navient’s revenue for the quarter was down 5.2% compared to the same quarter last year. Equities research analysts anticipate that Navient Corp will post 1.97 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 6.02%. The ex-dividend date of this dividend is Thursday, December 6th. Navient’s dividend payout ratio (DPR) is 35.75%.

Several large investors have recently bought and sold shares of NAVI. BlackRock Inc. increased its position in shares of Navient by 43.4% during the 2nd quarter. BlackRock Inc. now owns 24,405,633 shares of the credit services provider’s stock worth $318,005,000 after purchasing an additional 7,380,981 shares during the last quarter. Canyon Capital Advisors LLC increased its position in shares of Navient by 27.1% during the 2nd quarter. Canyon Capital Advisors LLC now owns 25,607,480 shares of the credit services provider’s stock worth $333,665,000 after purchasing an additional 5,465,768 shares during the last quarter. WBI Investments Inc. increased its position in shares of Navient by 2,563.6% during the 3rd quarter. WBI Investments Inc. now owns 1,387,058 shares of the credit services provider’s stock worth $18,697,000 after purchasing an additional 1,334,983 shares during the last quarter. Thornburg Investment Management Inc. increased its position in shares of Navient by 349.9% during the 3rd quarter. Thornburg Investment Management Inc. now owns 1,574,702 shares of the credit services provider’s stock worth $21,227,000 after purchasing an additional 1,224,702 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Navient by 25.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,937,215 shares of the credit services provider’s stock worth $51,301,000 after purchasing an additional 799,292 shares during the last quarter. 93.54% of the stock is currently owned by hedge funds and other institutional investors.

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Navient Company Profile (NASDAQ:NAVI)

Navient Corporation provides asset management and business processing services to education, health care, and government clients at the federal, state, and local levels in the United States. The company operates in three segments: Federal Family Education Loan Program (FFELP) Loans, Private Education Loans, and Business Services.

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