Navient Corp (NASDAQ:NAVI) saw a significant decrease in short interest in the month of July. As of July 15th, there was short interest totalling 10,494,500 shares, a decrease of 7.9% from the June 15th total of 11,395,800 shares. Based on an average trading volume of 1,670,000 shares, the days-to-cover ratio is presently 6.3 days. Approximately 4.4% of the company’s stock are sold short.

NASDAQ:NAVI traded up $0.19 during midday trading on Monday, hitting $14.27. The company’s stock had a trading volume of 14,032 shares, compared to its average volume of 2,137,740. Navient has a fifty-two week low of $8.23 and a fifty-two week high of $15.67. The company’s 50 day simple moving average is $13.53. The company has a debt-to-equity ratio of 26.20, a quick ratio of 12.43 and a current ratio of 13.85. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 6.74, a P/E/G ratio of 2.05 and a beta of 2.12.

Navient (NASDAQ:NAVI) last issued its quarterly earnings results on Tuesday, July 23rd. The credit services provider reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.20. Navient had a net margin of 8.14% and a return on equity of 16.82%. The company had revenue of $296.00 million for the quarter, compared to the consensus estimate of $296.50 million. During the same quarter in the prior year, the company earned $0.52 EPS. Navient’s quarterly revenue was down 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that Navient will post 2.29 earnings per share for the current fiscal year.

A number of equities analysts have commented on NAVI shares. ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. BidaskClub downgraded shares of Westport Fuel Systems from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Credit Suisse Group reiterated a “buy” rating and issued a $425.00 target price on shares of Boeing in a report on Thursday. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $7.00 target price on shares of Deutsche Bank in a report on Thursday, April 25th. Finally, Wedbush cut their price objective on shares of PTC from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $15.67.

In other Navient news, major shareholder Canyon Capital Advisors Llc sold 3,500,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $14.95, for a total value of $52,325,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stephen M. Hauber sold 9,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $13.63, for a total transaction of $122,670.00. The disclosure for this sale can be found here. 1.85% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC increased its holdings in Navient by 34.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 107,747 shares of the credit services provider’s stock worth $1,247,000 after buying an additional 27,813 shares during the period. DekaBank Deutsche Girozentrale boosted its position in Navient by 32.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 452,649 shares of the credit services provider’s stock worth $6,138,000 after purchasing an additional 111,785 shares in the last quarter. Greenleaf Trust purchased a new stake in Navient in the 1st quarter worth approximately $344,000. Boston Partners boosted its position in Navient by 2.2% in the 1st quarter. Boston Partners now owns 10,769,375 shares of the credit services provider’s stock worth $124,602,000 after purchasing an additional 228,392 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in Navient in the 4th quarter worth approximately $493,000. Institutional investors own 94.32% of the company’s stock.

Navient Company Profile

Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates in three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company holds and acquires Federal Family Education Loan Program loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing and asset recovery services on its own loan portfolio, and federal education loans owned by the United States Department of Education and other institutions.

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