Nelnet (NYSE:NNI) Downgraded to “Hold” Rating by StockNews.com

Nelnet (NYSE:NNI) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Nelnet Stock Performance

Shares of NNI stock traded up $1.49 during mid-day trading on Tuesday, hitting $106.35. 33,923 shares of the stock were exchanged, compared to its average volume of 73,547. The stock’s fifty day simple moving average is $110.65 and its two-hundred day simple moving average is $109.15. The company has a debt-to-equity ratio of 2.78, a quick ratio of 31.47 and a current ratio of 31.47. Nelnet has a 12-month low of $82.22 and a 12-month high of $127.32. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 34.98 and a beta of 0.90.

Insider Activity

In other Nelnet news, insider William J. Munn sold 2,500 shares of Nelnet stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $108.89, for a total value of $272,225.00. Following the transaction, the insider now directly owns 9,354 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 50.10% of the company’s stock.

Institutional Investors Weigh In On Nelnet

Several hedge funds have recently made changes to their positions in the business. FMR LLC raised its position in Nelnet by 20.3% during the 3rd quarter. FMR LLC now owns 556 shares of the credit services provider’s stock worth $63,000 after buying an additional 94 shares during the last quarter. Quest Partners LLC raised its holdings in Nelnet by 34,283.3% during the third quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider’s stock worth $234,000 after purchasing an additional 2,057 shares in the last quarter. Security National Bank of Sioux City Iowa IA purchased a new position in Nelnet during the second quarter worth about $212,000. MML Investors Services LLC lifted its position in Nelnet by 7.4% in the third quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider’s stock valued at $258,000 after purchasing an additional 157 shares during the period. Finally, Landscape Capital Management L.L.C. purchased a new stake in Nelnet in the 3rd quarter valued at approximately $288,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

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.