Navient Co. (NASDAQ:NAVI) sees sharp drop in short-term interest

Navient Co. (NASDAQ:NAVI – Get Rating) was the target of a sharp decline in short-term interest in September. As of September 30, there was selling interest totaling 7,730,000 shares, down 23.1% from the September 15 total of 10,050,000 shares. Based on an average trading volume of 1,640,000 shares, the short interest ratio is currently 4.7 days. Approximately 5.7% of the company’s shares are sold short.

Analysts set new price targets

Several research companies have recently published reports on NAVI. StockNews.com assumed coverage of Navient in a research report on Wednesday. They have set a “holding” rating on the stock. Citigroup lowered its target price on Navient from $18.00 to $15.00 in a research report on Thursday. Barclays raised its target price on Navient from $13.00 to $16.00 in a research report on Thursday. Morgan Stanley assumed coverage of Navient in a research report on Friday, October 7. They issued an “underweight” rating and a target price of $14.50 on the stock. Finally, Compass Point lowered its target price on Navient to $12.50 in a Tuesday, September 20 research report. Two analysts gave the stock a sell rating, five gave the company a hold rating and one gave the company a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $16.25.

Institutional entries and exits

Several large investors have recently bought and sold shares of the company. Captrust Financial Advisors increased its stake in Navient by 88.8% during the second quarter. Captrust Financial Advisors now owns 11,749 shares of the credit service provider valued at $164,000 after buying an additional 5,525 shares last quarter. ExodusPoint Capital Management LP increased its stake in Navient by 849.2% during the second quarter. ExodusPoint Capital Management LP now owns 110,743 shares of the credit services provider valued at $1,549,000 after buying an additional 99,076 shares last quarter. United Services Automobile Association bought a new position in Navient during the second quarter worth approximately $231,000. Price T Rowe Associates Inc. ® increased its stake in Navient by 0.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 91,373 shares of the credit services provider valued at $1,278,000 after buying 657 additional shares last quarter. Finally, Prudential Financial Inc. increased its stake in Navient by 9.5% during the second quarter. Prudential Financial Inc. now owns 459,334 shares of the credit service provider valued at $6,426,000 after buying an additional 39,700 shares last quarter. Institutional investors hold 93.65% of the company’s shares.

Navient Stock Performance

Shares of NASDAQ:NAVI traded down $0.65 on Friday, hitting $14.79. The company’s stock had a trading volume of 1,163,701 shares, compared to an average volume of 2,199,796. Navient has a 12-month low of $12.45 and a 12-month high of $22.59. The company has a market capitalization of $2.10 billion, a price-earnings ratio of 3.83 and a beta of 1.57. The stock’s 50-day moving average is $15.15 and its two-hundred-day moving average is $15.40. The company has a debt ratio of 23.14, a quick ratio of 15.69 and a current ratio of 15.69.

Navient (NASDAQ:NAVI – Get Rating) last released its quarterly results on Tuesday, July 26. The credit service provider reported earnings per share (EPS) of $0.92 for the quarter, beating the consensus estimate of $0.79 by $0.13. Navient had a return on equity of 12.79% and a net margin of 18.11%. The company posted revenue of $271.00 million in the quarter, compared to $264.50 million expected by analysts. In the same quarter a year earlier, the company posted earnings of $0.94 per share. On average, equity research analysts expect Navient to post an EPS of 3.4 for the current year.

Navient Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 16. Investors of record on Friday, September 2 received a dividend of $0.16 per share. The ex-dividend date was Thursday, September 1. This represents an annualized dividend of $0.64 and a yield of 4.33%. Navient’s dividend payout ratio is currently 16.58%.

Navient Company Profile

(Get a rating)

Navient Corporation provides student loan management and business processing solutions for education, healthcare and government customers at the federal, state and local levels in the United States. It operates through three segments: Federal Education Loans, Consumer Loans and Business Processing.

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