Navient (NASDAQ:NAVI) Sets New 52-Week Low – Here’s What Happened

Navient Co. (NASDAQ:NAVI)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $12.68 and last traded at $12.74, with a volume of 171907 shares. The stock had previously closed at $13.20.

Wall Street Analysts Forecast Growth

NAVI has been the subject of a number of analyst reports. Seaport Res Ptn raised Navient from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. decreased their target price on shares of Navient from $15.00 to $13.50 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. StockNews.com lowered shares of Navient from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Bank of America dropped their target price on Navient from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 24th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.90.

Navient Stock Performance

The firm’s fifty day moving average price is $13.78 and its 200 day moving average price is $14.46. The company has a current ratio of 9.48, a quick ratio of 9.49 and a debt-to-equity ratio of 16.35. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 11.05 and a beta of 1.36.

Navient (NASDAQ:NAVI) last issued its quarterly earnings results on Wednesday, January 29th. The credit services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Navient had a return on equity of 6.69% and a net margin of 2.96%. Analysts forecast that Navient Co. will post 1.04 EPS for the current fiscal year.

Navient Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, March 7th. This represents a $0.64 annualized dividend and a yield of 4.99%. Navient’s payout ratio is 55.17%.

Institutional Investors Weigh In On Navient

A number of hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP boosted its position in shares of Navient by 1,043.8% during the 4th quarter. Marshall Wace LLP now owns 635,466 shares of the credit services provider’s stock worth $8,445,000 after acquiring an additional 579,909 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Navient by 47.4% in the 4th quarter. Wellington Management Group LLP now owns 1,315,841 shares of the credit services provider’s stock valued at $17,488,000 after purchasing an additional 423,013 shares during the last quarter. Tudor Investment Corp ET AL boosted its position in shares of Navient by 1,088.8% in the 4th quarter. Tudor Investment Corp ET AL now owns 460,646 shares of the credit services provider’s stock valued at $6,122,000 after purchasing an additional 421,898 shares during the period. Voloridge Investment Management LLC purchased a new position in Navient during the 4th quarter worth approximately $4,009,000. Finally, Lighthouse Investment Partners LLC acquired a new position in Navient during the fourth quarter worth approximately $3,717,000. Institutional investors and hedge funds own 97.14% of the company’s stock.

Navient Company Profile

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.