First National Bank of Mount Dora Trust Investment Services boosted its holdings in Navient Corp (NASDAQ:NAVI) by 11.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,412 shares of the credit services provider’s stock after acquiring an additional 2,325 shares during the quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in Navient were worth $306,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bessemer Group Inc. increased its stake in Navient by 165.5% in the fourth quarter. Bessemer Group Inc. now owns 5,437 shares of the credit services provider’s stock valued at $48,000 after acquiring an additional 3,389 shares during the period. Thor Advisors LLC bought a new stake in Navient in the first quarter valued at about $67,000. Jane Street Group LLC bought a new stake in Navient in the fourth quarter valued at about $93,000. Marshall Wace North America L.P. bought a new stake in Navient in the first quarter valued at about $128,000. Finally, OLD Mission Capital LLC bought a new stake in Navient in the fourth quarter valued at about $103,000. 94.09% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Stephen M. Hauber sold 9,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $13.63, for a total transaction of $122,670.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.85% of the stock is owned by corporate insiders.
Navient stock traded up $0.26 during trading hours on Tuesday, hitting $13.70. 1,923,702 shares of the stock were exchanged, compared to its average volume of 1,757,750. The company has a quick ratio of 12.43, a current ratio of 12.43 and a debt-to-equity ratio of 25.60. The stock has a market capitalization of $3.28 billion, a PE ratio of 6.56, a P/E/G ratio of 2.10 and a beta of 2.12. Navient Corp has a 12 month low of $8.23 and a 12 month high of $14.48. The stock has a 50-day moving average of $13.45.
Navient (NASDAQ:NAVI) last released its quarterly earnings results on Tuesday, April 23rd. The credit services provider reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.12. Navient had a net margin of 6.99% and a return on equity of 15.10%. The business had revenue of $285.00 million for the quarter, compared to analysts’ expectations of $304.67 million. During the same period in the prior year, the firm earned $0.43 earnings per share. As a group, sell-side analysts expect that Navient Corp will post 2.15 EPS for the current year.
Several brokerages have weighed in on NAVI. Oppenheimer cut shares of Gulfport Energy from an “outperform” rating to a “market perform” rating in a research note on Friday, April 5th. BMO Capital Markets raised shares of Gold Fields from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 25th. BidaskClub cut shares of Westport Fuel Systems from a “buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $7.00 price objective on shares of Deutsche Bank in a research note on Thursday, April 25th. Finally, ValuEngine cut shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $15.10.
Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates in three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company holds and acquires Federal Family Education Loan Program loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing and asset recovery services on its own loan portfolio, and federal education loans owned by the United States Department of Education and other institutions.
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