Gamco Investors INC. ET AL trimmed its position in shares of Navient Corporation (NASDAQ:NAVI) by 14.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 119,500 shares of the credit services provider’s stock after selling 20,000 shares during the period. Gamco Investors INC. ET AL’s holdings in Navient Corporation were worth $1,795,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Creative Planning increased its stake in Navient Corporation by 7.2% in the second quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock valued at $118,000 after purchasing an additional 472 shares during the last quarter. Ffcm LLC increased its stake in Navient Corporation by 144.5% in the second quarter. Ffcm LLC now owns 7,071 shares of the credit services provider’s stock valued at $119,000 after purchasing an additional 4,179 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in Navient Corporation by 8.8% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 7,564 shares of the credit services provider’s stock valued at $126,000 after purchasing an additional 612 shares during the last quarter. Grove Bank & Trust increased its stake in Navient Corporation by 33.3% in the second quarter. Grove Bank & Trust now owns 9,280 shares of the credit services provider’s stock valued at $154,000 after purchasing an additional 2,320 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its stake in Navient Corporation by 2.3% in the first quarter. Thrivent Financial For Lutherans now owns 10,660 shares of the credit services provider’s stock valued at $157,000 after purchasing an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.
Several brokerages have commented on NAVI. Barclays PLC set a $17.00 price target on shares of Navient Corporation and gave the company a “buy” rating in a research note on Tuesday. BMO Capital Markets reiterated a “hold” rating and issued a $16.00 price target (down from $17.00) on shares of Navient Corporation in a research note on Thursday, July 20th. BidaskClub lowered shares of Navient Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Jefferies Group LLC reissued a “hold” rating and issued a $16.00 price objective on shares of Navient Corporation in a report on Monday, October 16th. Finally, Zacks Investment Research raised Navient Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $18.00.
In related news, CFO Christian M. Lown purchased 6,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The stock was purchased at an average cost of $12.35 per share, with a total value of $74,100.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John M. Kane sold 28,886 shares of the stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $15.00, for a total value of $433,290.00. The disclosure for this sale can be found here. 1.68% of the stock is owned by company insiders.
Shares of Navient Corporation (NAVI) opened at $12.08 on Tuesday. The company has a current ratio of 33.10, a quick ratio of 33.10 and a debt-to-equity ratio of 30.58. Navient Corporation has a fifty-two week low of $11.48 and a fifty-two week high of $17.95. The firm has a market capitalization of $3,180.00, a price-to-earnings ratio of 6.90 and a beta of 2.35.
Navient Corporation (NASDAQ:NAVI) last issued its quarterly earnings results on Tuesday, October 17th. The credit services provider reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.05. Navient Corporation had a return on equity of 14.09% and a net margin of 10.88%. The firm had revenue of $343.00 million during the quarter, compared to the consensus estimate of $361.33 million. During the same period last year, the company earned $0.50 earnings per share. The company’s revenue for the quarter was down 15.3% on a year-over-year basis. analysts anticipate that Navient Corporation will post 1.76 EPS for the current year.
Navient Corporation announced that its board has approved a share repurchase plan on Wednesday, October 4th that allows the company to repurchase shares. This repurchase authorization allows the credit services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
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Navient Corporation Profile
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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