Short Interest in Nelnet, Inc. (NYSE:NNI) Drops By 21.3%

Nelnet, Inc. (NYSE:NNI) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 250,200 shares, a decrease of 21.3% from the October 15th total of 318,000 shares. Approximately 1.6% of the company’s shares are short sold. Based on an average daily volume of 52,700 shares, the short-interest ratio is presently 4.7 days.

Nelnet Stock Performance

NNI traded down $0.30 during trading on Friday, reaching $109.34. 43,347 shares of the company were exchanged, compared to its average volume of 53,520. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78. Nelnet has a 52 week low of $82.22 and a 52 week high of $127.32. The firm has a 50 day moving average of $112.95 and a 200 day moving average of $108.35. The stock has a market cap of $3.96 billion, a P/E ratio of 35.97 and a beta of 0.92.

Nelnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Monday, December 2nd. Nelnet’s dividend payout ratio (DPR) is presently 36.84%.

Analyst Ratings Changes

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

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 stock was sold at an average price of $108.89, for a total transaction of $272,225.00. Following the completion of the sale, the insider now owns 9,354 shares of the company’s stock, valued at approximately $1,018,557.06. The trade was a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 50.10% of the stock is currently owned by company insiders.

Institutional Trading of Nelnet

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its position in Nelnet by 97.7% during the first quarter. BNP Paribas Financial Markets now owns 6,782 shares of the credit services provider’s stock valued at $642,000 after buying an additional 3,352 shares during the period. SG Americas Securities LLC acquired a new position in Nelnet during the 1st quarter worth $209,000. ProShare Advisors LLC bought a new stake in Nelnet during the 1st quarter valued at approximately $220,000. Vanguard Group Inc. grew its stake in shares of Nelnet by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,313,570 shares of the credit services provider’s stock worth $124,329,000 after acquiring an additional 3,485 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Nelnet by 139.2% during the 1st quarter. Covestor Ltd now owns 806 shares of the credit services provider’s stock worth $76,000 after purchasing an additional 469 shares during the period. 33.51% of the stock is currently owned by institutional investors.

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.