Nelnet (NYSE:NNI) Upgraded to Buy at StockNews.com

Nelnet (NYSE:NNI) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Nelnet Stock Performance

NYSE NNI opened at $112.32 on Wednesday. The stock has a market capitalization of $4.08 billion, a PE ratio of 36.95 and a beta of 0.91. Nelnet has a 1-year low of $83.75 and a 1-year high of $127.32. The business has a 50 day simple moving average of $108.06 and a two-hundred day simple moving average of $110.32. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NNI. Christopher J. Hasenberg Inc acquired a new position in shares of Nelnet in the 4th quarter valued at about $38,000. Blue Trust Inc. grew its position in shares of Nelnet by 1,293.1% in the fourth quarter. Blue Trust Inc. now owns 404 shares of the credit services provider’s stock valued at $46,000 after purchasing an additional 375 shares in the last quarter. FMR LLC grew its position in Nelnet by 20.3% in the third quarter. FMR LLC now owns 556 shares of the credit services provider’s stock worth $63,000 after acquiring an additional 94 shares during the period. EntryPoint Capital LLC acquired a new position in Nelnet during the fourth quarter worth $223,000. Finally, Quest Partners LLC raised its stake in shares of Nelnet by 34,283.3% in the third quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider’s stock valued at $234,000 after acquiring an additional 2,057 shares in the last quarter. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

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.