Credit Suisse Group Raises Nelnet, Inc. (NNI) Price Target to $55.00

Nelnet, Inc. (NYSE:NNI) had its price objective boosted by equities researchers at Credit Suisse Group from $50.00 to $55.00 in a report released on Friday. The brokerage presently has a “neutral” rating on the credit services provider’s stock. Credit Suisse Group’s price objective would suggest a potential downside of 2.74% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Compass Point raised shares of Nelnet from a “neutral” rating to a “buy” rating in a research note on Thursday. BidaskClub lowered Nelnet from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, TheStreet upgraded Nelnet from a “d+” rating to a “c” rating in a report on Tuesday, August 8th.

Shares of Nelnet (NYSE:NNI) traded up 3.55% during mid-day trading on Friday, hitting $58.56. 81,852 shares of the stock were exchanged. Nelnet has a 52-week low of $37.86 and a 52-week high of $58.73. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 9.50 and a beta of 1.00. The stock has a 50-day moving average price of $49.85 and a 200 day moving average price of $46.32.

Nelnet (NYSE:NNI) last issued its quarterly earnings results on Monday, August 7th. The credit services provider reported $1.08 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.08. Nelnet had a net margin of 20.19% and a return on equity of 9.65%. The company had revenue of $161.70 million for the quarter, compared to the consensus estimate of $182.02 million. During the same quarter in the prior year, the company earned $1.13 EPS. On average, equities research analysts expect that Nelnet will post $4.50 earnings per share for the current year.

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In other Nelnet news, major shareholder Angie Muhleisen sold 2,000 shares of the firm’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $48.38, for a total value of $96,760.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William J. Munn sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $50.00, for a total value of $50,000.00. The disclosure for this sale can be found here. Insiders sold a total of 5,000 shares of company stock worth $237,440 in the last 90 days. 45.40% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. lifted its holdings in Nelnet by 2.0% in the 1st quarter. Victory Capital Management Inc. now owns 2,640 shares of the credit services provider’s stock valued at $116,000 after purchasing an additional 53 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Nelnet by 1.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,659 shares of the credit services provider’s stock valued at $380,000 after purchasing an additional 101 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Nelnet by 6.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,156 shares of the credit services provider’s stock valued at $101,000 after purchasing an additional 123 shares in the last quarter. American International Group Inc. lifted its holdings in Nelnet by 7.1% in the 1st quarter. American International Group Inc. now owns 12,458 shares of the credit services provider’s stock valued at $546,000 after purchasing an additional 828 shares in the last quarter. Finally, Seizert Capital Partners LLC lifted its holdings in Nelnet by 1.4% in the 2nd quarter. Seizert Capital Partners LLC now owns 60,511 shares of the credit services provider’s stock valued at $2,845,000 after purchasing an additional 854 shares in the last quarter. Institutional investors own 40.86% of the company’s stock.

Nelnet Company Profile

Nelnet, Inc focuses on delivering education-related products and services and student loan asset management. The Company is engaged in student loan servicing, tuition payment processing and school information systems, and communications. The Company’s segments include Loan Systems and Servicing, Tuition Payment Processing and Campus Commerce, Communications, Asset Generation and Management, and Corporate and Other Activities.

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