Nelnet (NYSE:NNI) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Nelnet, Inc. (NYSE:NNI) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $106.20 and traded as high as $113.90. Nelnet shares last traded at $112.34, with a volume of 35,591 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Nelnet from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. TD Cowen boosted their price target on shares of Nelnet from $96.00 to $98.00 and gave the stock a “hold” rating in a research report on Monday, August 12th.

Nelnet Stock Performance

The stock has a fifty day simple moving average of $112.40 and a two-hundred day simple moving average of $106.28. The company has a debt-to-equity ratio of 2.97, a quick ratio of 33.51 and a current ratio of 33.51. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 26.88 and a beta of 0.92.

Nelnet (NYSE:NNI) last issued its earnings results on Thursday, August 8th. The credit services provider reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.13). The business had revenue of $324.90 million during the quarter. Nelnet had a return on equity of 4.71% and a net margin of 7.44%. Analysts forecast that Nelnet, Inc. will post 5.82 earnings per share for the current fiscal year.

Nelnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Friday, August 30th. Nelnet’s dividend payout ratio is presently 26.79%.

Institutional Investors Weigh In On Nelnet

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd grew its stake in shares of Nelnet by 139.2% in the 1st quarter. Covestor Ltd now owns 806 shares of the credit services provider’s stock valued at $76,000 after buying an additional 469 shares during the period. SG Americas Securities LLC acquired a new stake in Nelnet in the first quarter valued at approximately $209,000. Security National Bank of Sioux City Iowa IA bought a new stake in shares of Nelnet during the second quarter valued at approximately $212,000. ProShare Advisors LLC acquired a new position in shares of Nelnet during the first quarter worth approximately $220,000. Finally, Dark Forest Capital Management LP bought a new position in shares of Nelnet in the 2nd quarter worth $331,000. 33.51% of the stock is owned by institutional investors.

Nelnet Company Profile

Nelnet, Inc engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing services.