Navient Co. (NASDAQ: NAVI) sees sharp increase in short interest

Navient Co. (NASDAQ: NAVI) was the target of significant growth in overdraft interest during the month of December. As of December 15, there was short interest totaling 6,560,000 shares, an increase of 21.5% from the total of 5,400,000 shares as of November 30. Based on an average daily volume of 1,990,000 shares, the day-to-coverage ratio is currently 3.3 days. Currently 4.2% of stocks are sold short.

Several research firms recently commented on NAVI. Wedbush reissued an outperformance rating on Navient stocks in a research note on Tuesday, November 2nd. Seaport Res Ptn reissued a “neutral” note on Navient shares in a research note on Thursday, September 30. Stephens downgraded Navient’s stock from an “overweight” rating to an “equal weight” rating and set a price target of $ 22.00 for the stock. in a research note Monday. They noted that the move was an appraisal call. Seaport Global Securities launched a hedge on Navient shares in a research note on Thursday, September 30. They set a “neutral” rating on the stock. Finally, Zacks Investment Research raised Navient’s shares from a “sell” rating to a “keep” rating and set a price target of $ 21.00 on the stock in a research note on Monday 1st. November. Eight research analysts rated the stock with a conservation rating and three gave the company’s stock a buy rating. According to, Navient currently has a consensus rating of “Hold” and an average target price of $ 20.83.

A number of hedge funds and other institutional investors have recently changed their holdings in NAVI. FMR LLC strengthened its position in Navient by 23.6% during the second quarter. FMR LLC now owns 9,782,093 shares of the credit service provider valued at $ 189,088,000 after purchasing an additional 1,864,585 shares during the last quarter. Allianz Asset Management GmbH strengthened its position in Navient by 536.9% during the third quarter. Allianz Asset Management GmbH now owns 1,683,262 shares of the credit service provider valued at $ 33,210,000 after purchasing an additional 1,418,986 shares in the last quarter. Morgan Stanley strengthened its position in Navient by 224.3% in the second quarter. Morgan Stanley now owns 1,119,626 shares of the credit services provider valued at $ 21,642,000 after purchasing an additional 774,347 shares in the last quarter. Amundi acquired a new position in Navient during the second quarter for a value of approximately $ 13,531,000. Finally, Citigroup Inc. increased its position in Navient shares by 399.0% in the third quarter. Citigroup Inc. now owns 491,180 shares of the credit service provider valued at $ 9,691,000 after purchasing an additional 392,744 shares in the last quarter. 91.76% of the shares are held by hedge funds and other institutional investors.

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NAVI shares traded up $ 0.40 on Friday, reaching $ 22.25. 52,462 shares were traded, for an average volume of 2,117,992. The company has a current ratio of 27.93, a rapid ratio of 27.93 and a debt ratio of 27.66. The company has a market cap of $ 3.59 billion, a P / E ratio of 4.39 and a beta of 1.71. The company has a 50-day moving average of $ 20.62 and a 200-day moving average of $ 20.78. Navient has a fifty-two week minimum of $ 10.70 and a week maximum of $ 52.80.

Navient (NASDAQ: NAVI) last released its quarterly earnings data on Tuesday, October 26. The credit services provider reported earnings of $ 0.89 per share for the quarter, beating the consensus estimate of $ 0.82 by $ 0.07. The company posted revenue of $ 299.00 million in the quarter, compared to analysts’ expectations of $ 269.99 million. Navient reported a return on equity of 29.54% and a net margin of 25.74%. Navient’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period of the previous year, the company achieved earnings per share of $ 0.99. As a group, research analysts predict Navient will post 4.49 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 17. Investors of record on Friday, December 3 received a dividend of $ 0.16 per share. The ex-dividend date of this dividend was Thursday, December 2. This represents an annualized dividend of $ 0.64 and a return of 2.88%. Navient’s dividend payout ratio (DPR) is currently 12.60%.

About Navient

Navient Corp. is committed to providing asset management and business processing solutions for education, healthcare and government clients at the federal, state and local levels. It operates in the following segments: Federal Education Loans, Consumer Loans, Business Processing and Others. The Federal Education Loans segment holds FFELP loans and provides asset management and recovery services on the FFELP loan portfolio.

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