Man Group plc Acquires 549,627 Shares of Navient Corp (NAVI)

Man Group plc raised its holdings in shares of Navient Corp (NASDAQ:NAVI) by 36.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,057,395 shares of the credit services provider’s stock after purchasing an additional 549,627 shares during the period. Man Group plc owned 0.80% of Navient worth $27,734,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Paloma Partners Management Co increased its position in shares of Navient by 823.8% during the third quarter. Paloma Partners Management Co now owns 201,122 shares of the credit services provider’s stock worth $2,711,000 after purchasing an additional 179,352 shares in the last quarter. Matarin Capital Management LLC acquired a new position in shares of Navient during the third quarter worth $9,068,000. LPL Financial LLC increased its position in shares of Navient by 49.2% during the third quarter. LPL Financial LLC now owns 20,996 shares of the credit services provider’s stock worth $283,000 after purchasing an additional 6,919 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Navient by 183.9% during the third quarter. Dynamic Technology Lab Private Ltd now owns 32,975 shares of the credit services provider’s stock worth $445,000 after purchasing an additional 21,360 shares in the last quarter. Finally, Riverhead Capital Management LLC increased its position in shares of Navient by 198.3% during the third quarter. Riverhead Capital Management LLC now owns 105,300 shares of the credit services provider’s stock worth $1,419,000 after purchasing an additional 70,000 shares in the last quarter. 93.54% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ NAVI opened at $9.59 on Friday. The company has a debt-to-equity ratio of 25.59, a quick ratio of 19.74 and a current ratio of 19.74. Navient Corp has a 1 year low of $9.53 and a 1 year high of $15.02. The firm has a market capitalization of $2.47 billion, a P/E ratio of 5.18 and a beta of 2.11.

Navient (NASDAQ:NAVI) last released its earnings results on Tuesday, October 23rd. The credit services provider reported $0.53 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $327.00 million for the quarter, compared to the consensus estimate of $310.17 million. During the same period in the prior year, the firm earned $0.55 EPS. The firm’s revenue was down 5.2% on a year-over-year basis. On average, analysts expect that Navient Corp will post 1.97 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 6.67%. The ex-dividend date of this dividend is Thursday, December 6th. Navient’s payout ratio is 35.75%.

A number of brokerages have recently issued reports on NAVI. Zacks Investment Research downgraded Navient from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. ValuEngine downgraded Navient from a “hold” rating to a “sell” rating in a research report on Saturday, October 27th. Citigroup cut 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. Barclays set a $14.00 target price on Navient and gave the company a “buy” rating in a research report on Friday. Finally, BidaskClub raised Navient from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 8th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Navient has a consensus rating of “Hold” and a consensus price target of $15.29.

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Navient Profile

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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Institutional Ownership by Quarter for Navient (NASDAQ:NAVI)

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