Nelnet (NYSE:NNI) Reaches New 12-Month High – Should You Buy?

Nelnet, Inc. (NYSE:NNI)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $116.25 and last traded at $116.25, with a volume of 4376 shares trading hands. The stock had previously closed at $114.89.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NNI. StockNews.com cut Nelnet from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. TD Cowen increased their price objective on shares of Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a research report on Monday, August 12th.

Nelnet Stock Performance

The company has a quick ratio of 33.51, a current ratio of 33.51 and a debt-to-equity ratio of 2.97. The stock has a market capitalization of $4.53 billion, a P/E ratio of 29.90 and a beta of 0.92. The business has a fifty day moving average price of $113.08 and a 200-day moving average price of $107.49.

Nelnet (NYSE:NNI) last announced its quarterly earnings results on Thursday, August 8th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.13). Nelnet had a net margin of 7.44% and a return on equity of 4.71%. The company had revenue of $324.90 million for the quarter. On average, sell-side analysts expect that Nelnet, Inc. will post 5.82 EPS for the current year.

Institutional Inflows and Outflows

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

About Nelnet

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.