Nelnet, Inc. (NYSE:NNI) Shares Purchased by RMR Capital Management LLC

RMR Capital Management LLC raised its position in Nelnet, Inc. (NYSE:NNI) by 32.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,035 shares of the credit services provider’s stock after purchasing an additional 1,000 shares during the quarter. RMR Capital Management LLC’s holdings in Nelnet were worth $457,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in NNI. Renaissance Technologies LLC purchased a new position in Nelnet in the 2nd quarter valued at approximately $4,660,000. Denali Advisors LLC boosted its holdings in Nelnet by 33.0% in the second quarter. Denali Advisors LLC now owns 64,510 shares of the credit services provider’s stock valued at $6,506,000 after purchasing an additional 16,000 shares during the period. NorthCrest Asset Manangement LLC acquired a new position in Nelnet during the 3rd quarter worth $865,000. Bank of Montreal Can purchased a new stake in Nelnet during the 2nd quarter worth about $637,000. Finally, American Century Companies Inc. raised its position in Nelnet by 4.9% in the 2nd quarter. American Century Companies Inc. now owns 122,055 shares of the credit services provider’s stock valued at $12,310,000 after purchasing an additional 5,752 shares in the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Nelnet Stock Performance

Shares of NNI stock traded down $0.19 during trading hours on Tuesday, hitting $111.50. The stock had a trading volume of 5,245 shares, compared to its average volume of 75,233. The firm has a market capitalization of $4.04 billion, a PE ratio of 36.74 and a beta of 0.92. The stock’s 50 day moving average is $113.18 and its 200 day moving average is $107.90. The company has a debt-to-equity ratio of 2.97, a current ratio of 33.51 and a quick ratio of 33.51. Nelnet, Inc. has a twelve month low of $82.22 and a twelve month high of $127.32.

Nelnet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Monday, December 2nd. Nelnet’s dividend payout ratio (DPR) is presently 36.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. StockNews.com downgraded shares of Nelnet from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. TD Cowen raised their price target on Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a research note on Monday, August 12th.

Nelnet 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.