WBI Investments Inc. Invests $267,000 in Nelnet, Inc. (NNI) Stock

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WBI Investments Inc. bought a new stake in Nelnet, Inc. (NYSE:NNI) in the third quarter, Holdings Channel reports. The fund bought 4,675 shares of the credit services provider’s stock, valued at approximately $267,000.

A number of other large investors have also bought and sold shares of the business. GSA Capital Partners LLP grew its stake in Nelnet by 11.5% in the second quarter. GSA Capital Partners LLP now owns 10,685 shares of the credit services provider’s stock valued at $624,000 after acquiring an additional 1,100 shares during the period. United Services Automobile Association grew its stake in Nelnet by 5.4% in the second quarter. United Services Automobile Association now owns 23,427 shares of the credit services provider’s stock valued at $1,368,000 after acquiring an additional 1,207 shares during the period. Wells Fargo & Company MN grew its stake in Nelnet by 4.0% in the first quarter. Wells Fargo & Company MN now owns 40,405 shares of the credit services provider’s stock valued at $2,118,000 after acquiring an additional 1,563 shares during the period. Pittenger & Anderson Inc. grew its stake in Nelnet by 67.0% in the third quarter. Pittenger & Anderson Inc. now owns 4,425 shares of the credit services provider’s stock valued at $253,000 after acquiring an additional 1,775 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Nelnet by 10.1% during the second quarter. Robeco Institutional Asset Management B.V. now owns 21,829 shares of the credit services provider’s stock worth $1,275,000 after buying an additional 2,009 shares during the period. 37.43% of the stock is owned by hedge funds and other institutional investors.

NNI stock opened at $55.75 on Tuesday. The company has a quick ratio of 112.77, a current ratio of 112.77 and a debt-to-equity ratio of 9.83. The stock has a market cap of $2.28 billion, a PE ratio of 10.99 and a beta of 0.70. Nelnet, Inc. has a fifty-two week low of $48.30 and a fifty-two week high of $64.00.

Nelnet (NYSE:NNI) last posted its quarterly earnings data on Tuesday, August 7th. The credit services provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.02. The company had revenue of $257.96 million during the quarter. Nelnet had a return on equity of 9.45% and a net margin of 17.02%.

Separately, ValuEngine cut Nelnet from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th.

In other news, major shareholder Angie Muhleisen sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $58.22, for a total transaction of $58,220.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 3,000 shares of company stock valued at $171,060 over the last ninety days. 47.00% of the stock is owned by insiders.

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Nelnet Company Profile

Nelnet, Inc provides education related products and services, and loan asset management services worldwide. The company's Loan Systems and Servicing segment is involved in loan servicing activities, such as loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing activities for student loan portfolio and third-party clients.

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Institutional Ownership by Quarter for Nelnet (NYSE:NNI)

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