Navient (NAVI) Debt Trading 1.5% Lower

An issue of Navient Corp (NASDAQ:NAVI) bonds fell 1.5% against their face value during trading on Tuesday. The debt issue has a 6.5% coupon and will mature on June 15, 2022. The debt is now trading at $103.13 and was trading at $102.00 one week ago. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.

A number of analysts have issued reports on the company. Zacks Investment Research lowered Navient from a “hold” rating to a “sell” rating in a research report on Monday, February 11th. BidaskClub cut shares of Navient from a “buy” rating to a “hold” rating in a research note on Thursday, February 7th. Oppenheimer restated a “hold” rating on shares of Navient in a report on Friday, January 25th. JPMorgan Chase & Co. raised Navient from an “underweight” rating to a “neutral” rating and lowered their target price for the stock from $13.00 to $12.00 in a research note on Wednesday, January 16th. Finally, Barclays set a $14.00 target price on Navient and gave the stock a “buy” rating in a research report on Friday, December 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Navient presently has a consensus rating of “Hold” and an average target price of $14.79.

Shares of NASDAQ:NAVI traded up $1.06 during midday trading on Tuesday, hitting $12.79. 6,228,722 shares of the stock were exchanged, compared to its average volume of 2,075,592. The stock has a market cap of $3.03 billion, a P/E ratio of 6.12 and a beta of 2.30. Navient Corp has a 12 month low of $8.23 and a 12 month high of $15.02. The company has a current ratio of 17.67, a quick ratio of 19.74 and a debt-to-equity ratio of 26.37.

Navient (NASDAQ:NAVI) last announced its quarterly earnings results on Tuesday, January 22nd. The credit services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The company had revenue of $307.00 million during the quarter, compared to analyst estimates of $315.67 million. Navient had a return on equity of 14.08% and a net margin of 7.04%. During the same period in the prior year, the company earned $0.43 earnings per share. As a group, equities analysts forecast that Navient Corp will post 1.96 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend is Thursday, February 28th. Navient’s dividend payout ratio (DPR) is 30.62%.

Several hedge funds have recently made changes to their positions in the company. Doyle Wealth Management purchased a new stake in Navient during the fourth quarter valued at approximately $46,000. Bessemer Group Inc. increased its position in shares of Navient by 165.5% during the fourth quarter. Bessemer Group Inc. now owns 5,437 shares of the credit services provider’s stock worth $48,000 after acquiring an additional 3,389 shares during the period. Jane Street Group LLC acquired a new position in Navient in the fourth quarter valued at $93,000. Signition LP lifted its position in Navient by 13.6% in the fourth quarter. Signition LP now owns 11,362 shares of the credit services provider’s stock valued at $100,000 after purchasing an additional 1,358 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Navient by 781.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 907,606 shares of the credit services provider’s stock worth $103,000 after purchasing an additional 804,586 shares in the last quarter. Institutional investors own 93.29% of the company’s stock.

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Navient Company Profile (NASDAQ:NAVI)

Navient Corporation provides asset management and business processing services to education, health care, and government clients at the federal, state, and local levels in the United States. The company operates in three segments: Federal Family Education Loan Program (FFELP) Loans, Private Education Loans, and Business Services.

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