Nelnet, Inc. (NYSE:NNI) Short Interest Up 26.9% in May

Nelnet, Inc. (NYSE:NNI) saw a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 300,400 shares, an increase of 26.9% from the April 30th total of 236,700 shares. Based on an average daily trading volume, of 67,900 shares, the short-interest ratio is currently 4.4 days. Approximately 1.6% of the shares of the stock are short sold.

Nelnet stock traded up $0.20 during midday trading on Thursday, reaching $59.05. 14,718 shares of the stock traded hands, compared to its average volume of 57,132. Nelnet has a 12 month low of $47.59 and a 12 month high of $63.97. The firm has a market cap of $2.35 billion, a PE ratio of 10.74 and a beta of 0.49. The company has a current ratio of 86.21, a quick ratio of 86.21 and a debt-to-equity ratio of 9.37.

Nelnet (NYSE:NNI) last issued its quarterly earnings data on Wednesday, May 8th. The credit services provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.40. Nelnet had a return on equity of 9.66% and a net margin of 8.86%. The business had revenue of $264.94 million for the quarter.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.72 dividend on an annualized basis and a yield of 1.22%.

In related news, major shareholder Angie Muhleisen sold 1,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $57.93, for a total transaction of $57,930.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 44.97% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Great West Life Assurance Co. Can raised its position in Nelnet by 59.5% during the fourth quarter. Great West Life Assurance Co. Can now owns 2,757 shares of the credit services provider’s stock valued at $140,000 after purchasing an additional 1,028 shares during the period. Burney Co. purchased a new stake in Nelnet during the first quarter valued at approximately $205,000. DekaBank Deutsche Girozentrale purchased a new stake in Nelnet during the first quarter valued at approximately $232,000. BNP Paribas Arbitrage SA raised its position in Nelnet by 143.1% during the first quarter. BNP Paribas Arbitrage SA now owns 4,177 shares of the credit services provider’s stock valued at $230,000 after purchasing an additional 2,459 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Nelnet during the first quarter valued at approximately $231,000. Institutional investors and hedge funds own 35.35% of the company’s stock.

Nelnet Company Profile

Nelnet, Inc provides education related products and services, and loan asset management services worldwide. The company's Loan Servicing and Systems is involved in loan servicing activities, such as loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing activities for student loan portfolio and third-party clients.

Read More: Gross Domestic Product (GDP)

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