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

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 to investors on Tuesday.

Nelnet Trading Up 1.4 %

Nelnet stock traded up $1.49 during midday trading on Tuesday, reaching $106.35. 33,923 shares of the stock traded hands, compared to its average volume of 73,547. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78. The firm has a market cap of $3.86 billion, a PE ratio of 34.98 and a beta of 0.90. The company has a 50-day simple moving average of $110.65 and a two-hundred day simple moving average of $109.15. Nelnet has a 12-month low of $82.22 and a 12-month high of $127.32.

Insider Buying and Selling

In other Nelnet news, insider William J. Munn sold 2,500 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total value of $272,225.00. Following the sale, the insider now owns 9,354 shares of the company’s stock, valued at $1,018,557.06. This trade represents a 21.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 50.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Nelnet

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

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.