Nelnet, Inc. (NYSE:NNI) Shares Acquired by Crawford Fund Management LLC

Crawford Fund Management LLC raised its holdings in shares of Nelnet, Inc. (NYSE:NNI) by 0.4% in the third quarter, Holdings Channel.com reports. The firm owned 57,787 shares of the credit services provider’s stock after buying an additional 217 shares during the period. Nelnet comprises 1.4% of Crawford Fund Management LLC’s portfolio, making the stock its 9th largest holding. Crawford Fund Management LLC’s holdings in Nelnet were worth $6,546,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NNI. Renaissance Technologies LLC acquired a new stake in Nelnet during the 2nd quarter valued at approximately $4,660,000. Kingsview Wealth Management LLC acquired a new stake in Nelnet during the 3rd quarter valued at approximately $2,613,000. Denali Advisors LLC lifted its holdings in Nelnet by 33.0% during the 2nd quarter. Denali Advisors LLC now owns 64,510 shares of the credit services provider’s stock worth $6,506,000 after buying an additional 16,000 shares during the last quarter. NorthCrest Asset Manangement LLC bought a new position in Nelnet during the 3rd quarter worth approximately $865,000. Finally, Bank of Montreal Can bought a new position in Nelnet during the 2nd quarter worth approximately $637,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

Insider Buying and Selling at Nelnet

In other Nelnet news, insider William J. Munn sold 2,500 shares of Nelnet stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total transaction 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. The trade was a 21.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 50.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Nelnet Trading Down 0.2 %

Shares of NYSE NNI opened at $108.76 on Friday. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 35.78 and a beta of 0.92. Nelnet, Inc. has a 12-month low of $82.22 and a 12-month high of $127.32. 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 stock’s 50 day simple moving average is $112.12 and its 200 day simple moving average is $108.87.

Nelnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.03%. The ex-dividend date is Monday, December 2nd. Nelnet’s payout ratio is currently 36.84%.

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.