Navient Corporation (NAVI) Sets New 1-Year Low at $11.93

Navient Corporation (NASDAQ:NAVI) shares reached a new 52-week low on Wednesday . The stock traded as low as $11.93 and last traded at $11.91, with a volume of 2,957,722 shares changing hands. The stock had previously closed at $12.47.

Several research analysts have recently weighed in on the stock. Compass Point cut shares of Navient Corporation from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $16.50 to $15.50 in a report on Thursday, October 5th. Credit Suisse Group decreased their price objective on shares of Navient Corporation from $16.50 to $16.00 and set an “outperform” rating for the company in a report on Wednesday, October 4th. Zacks Investment Research raised shares of Navient Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. BidaskClub cut shares of Navient Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $16.00 price objective on shares of Navient Corporation in a report on Friday, July 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Navient Corporation presently has an average rating of “Hold” and a consensus price target of $18.30.

The company’s 50 day moving average price is $13.93 and its 200 day moving average price is $14.76. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 6.19 and a beta of 2.48.

Navient Corporation (NASDAQ:NAVI) last announced its quarterly earnings data on Tuesday, July 18th. The credit services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. Navient Corporation had a net margin of 11.50% and a return on equity of 14.05%. The business had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $331.67 million. During the same period in the previous year, the business posted $0.47 EPS. The business’s quarterly revenue was down 15.9% compared to the same quarter last year. Equities analysts predict that Navient Corporation will post $1.75 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 5.13%. The ex-dividend date was Wednesday, August 30th. Navient Corporation’s dividend payout ratio (DPR) is 33.68%.

Navient Corporation announced that its Board of Directors has approved a stock repurchase program on Wednesday, October 4th that authorizes the company to repurchase shares. This repurchase authorization authorizes the credit services provider to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

In related news, EVP John M. Kane sold 28,886 shares of the business’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $15.00, for a total value of $433,290.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.68% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. acquired a new stake in Navient Corporation during the 1st quarter worth $112,000. Creative Planning boosted its stake in Navient Corporation by 7.2% during the 2nd quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock worth $118,000 after purchasing an additional 472 shares during the last quarter. Ffcm LLC boosted its stake in Navient Corporation by 144.5% during the 2nd quarter. Ffcm LLC now owns 7,071 shares of the credit services provider’s stock worth $119,000 after purchasing an additional 4,179 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in Navient Corporation by 8.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 7,564 shares of the credit services provider’s stock worth $126,000 after purchasing an additional 612 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in Navient Corporation during the 1st quarter worth $153,000. 93.02% of the stock is owned by institutional investors.

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About Navient Corporation

Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).

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