Cerebellum GP LLC Increases Holdings in Navient Corp (NAVI)
Cerebellum GP LLC raised its holdings in shares of Navient Corp (NASDAQ:NAVI) by 119.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,461 shares of the credit services provider’s stock after acquiring an additional 16,047 shares during the period. Cerebellum GP LLC’s holdings in Navient were worth $260,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Point72 Asset Management L.P. acquired a new position in shares of Navient in the 2nd quarter valued at $125,000. Signition LP acquired a new position in shares of Navient in the 3rd quarter valued at $135,000. Gryphon Financial Partners LLC lifted its stake in shares of Navient by 212.9% in the 3rd quarter. Gryphon Financial Partners LLC now owns 10,113 shares of the credit services provider’s stock valued at $137,000 after purchasing an additional 6,881 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Navient in the 2nd quarter valued at $151,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Navient in the 3rd quarter valued at $151,000. Institutional investors and hedge funds own 93.51% of the company’s stock.
NAVI has been the subject of several analyst reports. Citigroup decreased their target price on shares of Navient from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, October 25th. Zacks Investment Research upgraded shares of Navient from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Monday, December 3rd. Barclays set a $14.00 price objective on shares of Navient and gave the stock a “buy” rating in a research report on Friday, December 14th. ValuEngine upgraded shares of Navient from a “sell” rating to a “hold” rating in a research report on Saturday, October 6th. Finally, Oppenheimer restated a “hold” rating on shares of Navient in a research report on Thursday, October 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $15.29.
Navient (NASDAQ:NAVI) last posted its quarterly earnings data on Tuesday, October 23rd. The credit services provider reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.04. Navient had a net margin of 4.29% and a return on equity of 13.43%. The company had revenue of $327.00 million during the quarter, compared to analysts’ expectations of $310.17 million. During the same period in the prior year, the business posted $0.55 earnings per share. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities research analysts predict that Navient Corp will post 1.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 21st. Stockholders of record on Friday, December 7th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.16%. The ex-dividend date of this dividend was Thursday, December 6th. Navient’s payout ratio is 35.75%.
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Navient Corporation provides asset management and business processing services to education, health care, and government clients at the federal, state, and local levels in the United States. The company operates in three segments: Federal Family Education Loan Program (FFELP) Loans, Private Education Loans, and Business Services.
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