Navient (NASDAQ:NAVI) Hits New 52-Week Low – Here’s Why

Navient Co. (NASDAQ:NAVI)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $11.88 and last traded at $11.83, with a volume of 86258 shares changing hands. The stock had previously closed at $12.98.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NAVI. Bank of America decreased their price objective on Navient from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, December 24th. StockNews.com downgraded shares of Navient from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods reduced their target price on shares of Navient from $16.00 to $14.00 and set a “market perform” rating for the company in a report on Monday. Seaport Res Ptn raised shares of Navient from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. cut their price target on shares of Navient from $15.00 to $13.50 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.50.

Navient Stock Down 7.0 %

The stock has a market cap of $1.23 billion, a P/E ratio of 10.41 and a beta of 1.24. The firm has a 50 day simple moving average of $13.67 and a 200-day simple moving average of $14.39. The company has a quick ratio of 9.49, a current ratio of 9.48 and a debt-to-equity ratio of 16.35.

Navient (NASDAQ:NAVI) last released its quarterly earnings data on Wednesday, January 29th. The credit services provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Navient had a return on equity of 6.69% and a net margin of 2.96%. On average, equities research analysts forecast that Navient Co. will post 1.04 earnings per share for the current fiscal year.

Navient Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.30%. Navient’s payout ratio is 55.17%.

Hedge Funds Weigh In On Navient

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC raised its stake in Navient by 815.0% in the fourth quarter. Sterling Capital Management LLC now owns 2,443 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 2,176 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Navient during the 4th quarter worth approximately $167,000. Brevan Howard Capital Management LP boosted its position in shares of Navient by 16.3% during the 4th quarter. Brevan Howard Capital Management LP now owns 12,877 shares of the credit services provider’s stock worth $171,000 after acquiring an additional 1,804 shares in the last quarter. Twinbeech Capital LP bought a new position in Navient in the fourth quarter valued at approximately $173,000. Finally, Paloma Partners Management Co acquired a new position in shares of Navient during the 3rd quarter worth $174,000. 97.14% of the stock is owned by institutional investors and hedge funds.

About Navient

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.