Magnolia Group LLC Has $66.85 Million Stock Holdings in Nelnet, Inc. (NYSE:NNI)

Magnolia Group LLC raised its position in shares of Nelnet, Inc. (NYSE:NNI) by 10.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,128,893 shares of the credit services provider’s stock after purchasing an additional 106,085 shares during the quarter. Nelnet comprises 7.3% of Magnolia Group LLC’s portfolio, making the stock its 4th largest holding. Magnolia Group LLC owned about 2.83% of Nelnet worth $66,853,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NNI. Norges Bank bought a new position in Nelnet during the 4th quarter valued at $28,833,000. Farmers & Merchants Investments Inc. boosted its stake in Nelnet by 8.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,582,766 shares of the credit services provider’s stock valued at $93,731,000 after purchasing an additional 127,488 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Nelnet by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,462,778 shares of the credit services provider’s stock valued at $128,902,000 after purchasing an additional 36,540 shares in the last quarter. Boston Partners boosted its stake in Nelnet by 2.1% during the 1st quarter. Boston Partners now owns 1,070,799 shares of the credit services provider’s stock valued at $58,969,000 after purchasing an additional 22,020 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Nelnet by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 306,607 shares of the credit services provider’s stock valued at $16,047,000 after purchasing an additional 18,172 shares in the last quarter. 35.43% of the stock is owned by hedge funds and other institutional investors.

Shares of NNI traded up $3.83 during trading hours on Friday, hitting $67.42. 228,920 shares of the company were exchanged, compared to its average volume of 60,079. The company has a market capitalization of $2.54 billion, a P/E ratio of 11.54 and a beta of 0.45. The company has a quick ratio of 86.21, a current ratio of 86.21 and a debt-to-equity ratio of 9.37. The business’s fifty day moving average is $60.44. Nelnet, Inc. has a one year low of $47.59 and a one year high of $68.51.

Nelnet (NYSE:NNI) last released its quarterly earnings data on Thursday, August 8th. The credit services provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.08. The business had revenue of $241.97 million during the quarter, compared to analyst estimates of $281.00 million. Nelnet had a return on equity of 9.61% and a net margin of 7.45%. During the same period last year, the company posted $1.30 EPS.

In other news, major shareholder Angie Muhleisen sold 1,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $61.06, for a total transaction of $61,060.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 44.97% of the company’s stock.

Nelnet Company Profile

Nelnet, Inc provides education related products and services, and loan asset management services worldwide. The company's Loan Servicing and Systems 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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Institutional Ownership by Quarter for Nelnet (NYSE:NNI)

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