Campbell & CO Investment Adviser LLC boosted its stake in Navient Corp (NASDAQ:NAVI) by 38.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,773 shares of the credit services provider’s stock after purchasing an additional 14,200 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Navient were worth $429,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of NAVI. Canyon Capital Advisors LLC bought a new stake in Navient in the 2nd quarter worth approximately $56,240,000. Holocene Advisors LP boosted its stake in shares of Navient by 943.8% during the 2nd quarter. Holocene Advisors LP now owns 1,273,292 shares of the credit services provider’s stock worth $8,951,000 after acquiring an additional 1,151,302 shares during the last quarter. Portolan Capital Management LLC purchased a new position in shares of Navient during the 2nd quarter worth $6,644,000. First Trust Advisors LP boosted its stake in shares of Navient by 120.5% during the 2nd quarter. First Trust Advisors LP now owns 1,574,088 shares of the credit services provider’s stock worth $11,066,000 after acquiring an additional 860,304 shares during the last quarter. Finally, Capital World Investors purchased a new position in shares of Navient during the 1st quarter worth $5,685,000. 95.93% of the stock is owned by institutional investors and hedge funds.
In related news, Director Anna Escobedo Cabral purchased 6,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were acquired at an average price of $8.81 per share, for a total transaction of $52,860.00. Following the purchase, the director now directly owns 24,226 shares in the company, valued at $213,431.06. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John F. Remondi purchased 50,000 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was bought at an average price of $7.82 per share, for a total transaction of $391,000.00. The disclosure for this purchase can be found here. 1.85% of the stock is owned by insiders.
Navient (NASDAQ:NAVI) last announced its quarterly earnings results on Tuesday, July 21st. The credit services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.47 by $0.45. The business had revenue of $329.00 million for the quarter, compared to analysts’ expectations of $284.50 million. Navient had a net margin of 7.38% and a return on equity of 21.05%. On average, equities research analysts predict that Navient Corp will post 2.91 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 6.54%. The ex-dividend date was Thursday, September 3rd. Navient’s payout ratio is currently 24.24%.
Several research analysts have recently weighed in on NAVI shares. Zacks Investment Research upgraded shares of Navient from a “strong sell” rating to a “hold” rating and set a $8.50 price target on the stock in a research note on Monday, July 27th. JPMorgan Chase & Co. lifted their price target on shares of Navient from $9.50 to $11.50 and gave the stock an “overweight” rating in a research note on Friday, October 9th. Compass Point reiterated a “market perform” rating and set a $11.00 price target on shares of Navient in a research note on Monday, August 3rd. Finally, BidaskClub upgraded shares of Navient from a “hold” rating to a “buy” rating in a research note on Wednesday, October 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Navient presently has a consensus rating of “Hold” and an average price target of $11.89.
Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates in three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company holds and acquires Federal Family Education Loan Program loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing and asset recovery services on its own loan portfolio, and federal education loans owned by the United States Department of Education and other institutions.
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