Nelnet (NYSE:NNI) Stock Rating Upgraded by StockNews.com

Nelnet (NYSE:NNI) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Nelnet Price Performance

Shares of NNI traded up $2.25 during mid-day trading on Wednesday, reaching $107.42. The company had a trading volume of 38,993 shares, compared to its average volume of 37,333. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. The company has a market capitalization of $3.90 billion, a P/E ratio of 35.34 and a beta of 0.91. Nelnet has a twelve month low of $82.58 and a twelve month high of $127.32. The company’s 50-day moving average is $107.73 and its 200-day moving average is $109.77.

Insider Buying and Selling

In other Nelnet news, insider William J. Munn sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $108.89, for a total value of $272,225.00. Following the transaction, the insider now directly owns 9,354 shares in the company, valued at $1,018,557.06. The trade was a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 50.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NNI. Rhumbline Advisers grew its position in Nelnet by 5.2% during the 2nd quarter. Rhumbline Advisers now owns 31,608 shares of the credit services provider’s stock worth $3,188,000 after acquiring an additional 1,570 shares during the last quarter. American Century Companies Inc. boosted its stake in Nelnet by 4.9% in the second quarter. American Century Companies Inc. now owns 122,055 shares of the credit services provider’s stock worth $12,310,000 after purchasing an additional 5,752 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Nelnet during the second quarter worth $4,660,000. Hsbc Holdings PLC increased its stake in shares of Nelnet by 34.9% in the second quarter. Hsbc Holdings PLC now owns 3,443 shares of the credit services provider’s stock valued at $348,000 after buying an additional 890 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Nelnet in the second quarter valued at about $535,000. Institutional investors own 33.51% of the company’s stock.

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.