RMR Capital Management LLC Grows Stock Holdings in Nelnet, Inc. $NNI

RMR Capital Management LLC grew its holdings in shares of Nelnet, Inc. (NYSE:NNI) by 10.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,917 shares of the credit services provider’s stock after buying an additional 464 shares during the quarter. RMR Capital Management LLC’s holdings in Nelnet were worth $596,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. D.A. Davidson & CO. raised its holdings in Nelnet by 15.5% in the first quarter. D.A. Davidson & CO. now owns 20,347 shares of the credit services provider’s stock valued at $2,257,000 after acquiring an additional 2,728 shares in the last quarter. XTX Topco Ltd purchased a new stake in Nelnet during the first quarter valued at about $384,000. Jump Financial LLC purchased a new stake in shares of Nelnet in the first quarter worth approximately $256,000. QRG Capital Management Inc. lifted its position in shares of Nelnet by 14.0% in the first quarter. QRG Capital Management Inc. now owns 5,530 shares of the credit services provider’s stock worth $613,000 after purchasing an additional 678 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Nelnet by 209.0% in the first quarter. Deutsche Bank AG now owns 39,074 shares of the credit services provider’s stock worth $4,334,000 after purchasing an additional 26,429 shares in the last quarter. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NNI shares. Wall Street Zen raised shares of Nelnet from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Nelnet in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Insiders Place Their Bets

In other Nelnet news, Director Thomas Edward Henning sold 5,094 shares of Nelnet stock in a transaction on Friday, September 5th. The stock was sold at an average price of $128.87, for a total transaction of $656,463.78. Following the completion of the transaction, the director directly owned 11,058 shares of the company’s stock, valued at approximately $1,425,044.46. This trade represents a 31.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Shelby J. Butterfield sold 41,929 shares of Nelnet stock in a transaction on Monday, August 25th. The shares were sold at an average price of $119.25, for a total value of $5,000,033.25. Following the transaction, the insider directly owned 510 shares of the company’s stock, valued at approximately $60,817.50. The trade was a 98.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,125 shares of company stock valued at $6,056,252. Company insiders own 50.90% of the company’s stock.

Nelnet Trading Up 1.2%

Shares of NNI stock opened at $129.84 on Wednesday. The business’s 50 day moving average is $127.04 and its two-hundred day moving average is $118.91. The company has a market cap of $4.70 billion, a PE ratio of 14.38 and a beta of 0.84. The company has a quick ratio of 29.41, a current ratio of 29.42 and a debt-to-equity ratio of 2.27. Nelnet, Inc. has a 12 month low of $98.15 and a 12 month high of $136.17.

Nelnet (NYSE:NNI) last announced its quarterly earnings data on Wednesday, August 6th. The credit services provider reported $5.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $3.14. The business had revenue of $540.61 million for the quarter, compared to the consensus estimate of $376.40 million. Nelnet had a net margin of 14.86% and a return on equity of 10.09%. Equities analysts predict that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a boost from Nelnet’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.9%. Nelnet’s dividend payout ratio (DPR) is 13.29%.

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.