Navient (NAVI) Bonds Trading 0.5% Lower

An issue of Navient Corp (NASDAQ:NAVI) bonds fell 0.5% against their face value during trading on Monday. The high-yield issue of debt has a 4.875% coupon and will mature on June 17, 2019. The debt is now trading at $101.25 and was trading at $101.87 last week. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its stock price.

NAVI has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Navient from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th. Compass Point lowered shares of Navient from a “buy” rating to a “neutral” rating and cut their price objective for the company from $16.50 to $15.50 in a research report on Thursday, October 5th. ValuEngine raised shares of Navient from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. BMO Capital Markets cut their price objective on shares of Navient from $16.00 to $14.00 and set a “market perform” rating for the company in a research report on Thursday, October 19th. Finally, Jefferies Group reissued a “hold” rating and issued a $16.00 price objective on shares of Navient in a research report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $18.00.

Navient Corp (NASDAQ NAVI) opened at $13.46 on Wednesday. Navient Corp has a 52-week low of $11.48 and a 52-week high of $17.05. The company has a debt-to-equity ratio of 30.58, a quick ratio of 33.10 and a current ratio of 33.10. The company has a market cap of $3,570.00, a P/E ratio of 7.40 and a beta of 2.33.

Navient (NASDAQ:NAVI) last issued its quarterly earnings results on Tuesday, October 17th. The credit services provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.50 by $0.05. Navient had a net margin of 10.88% and a return on equity of 14.09%. The firm had revenue of $343.00 million during the quarter, compared to analyst estimates of $361.33 million. During the same quarter in the prior year, the business posted $0.50 earnings per share. Navient’s revenue for the quarter was down 15.3% compared to the same quarter last year. equities research analysts expect that Navient Corp will post 1.76 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.64 annualized dividend and a yield of 4.75%. Navient’s dividend payout ratio is currently 35.16%.

Navient announced that its board has initiated a stock repurchase program on Wednesday, October 4th that allows the company to buyback shares. This buyback authorization allows the credit services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

In other Navient news, CFO Christian M. Lown acquired 6,000 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was bought at an average cost of $12.35 per share, for a total transaction of $74,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.68% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in NAVI. Ffcm LLC boosted its stake in shares of Navient 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 period. Quantbot Technologies LP purchased a new position in shares of Navient in the third quarter valued at $121,000. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Navient 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 period. Advisors Asset Management Inc. boosted its stake in shares of Navient by 84.0% in the third quarter. Advisors Asset Management Inc. now owns 10,168 shares of the credit services provider’s stock valued at $153,000 after purchasing an additional 4,642 shares during the period. Finally, First Midwest Bank Trust Division purchased a new position in shares of Navient in the third quarter valued at $175,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

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About Navient

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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