Navient Corporation (NASDAQ:NAVI) encountered a drop of 0.1% or -19,918 shares in the short positions. The number dropped from 18,729,939 on May 31,2016 to 18,710,021 on June 15,2016. The final interest is 5.7% of the floated stock. The days to cover figure of 7 can be arrived using the average daily exchange of 2,593,656 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Navient Corporation (NASDAQ:NAVI): The stock opened at $11.69 on Friday but the bulls could not build on the opening and the stock topped out at $11.98 for the day. The stock traded down to $11.49 during the day, due to lack of any buying support eventually closed down at $11.67 with a loss of -5.51% for the day. The stock had closed at $12.35 on the previous day. The total traded volume was 6,588,952 shares.
The company shares have dropped -35.56% from its 1 Year high price. On Jul 7, 2015, the shares registered one year high at $19.00 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $12.82 and the 200 Day Moving Average price is recorded at $11.64.
Navient Corporation (NASDAQ:NAVI) has tumbled 3.71% during the past week and has dropped 13.43% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 2.12%. Navient Corporation (NASDAQ:NAVI) has underperformed the index by 10.81% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Navient Corporation is a loan management, servicing and asset recovery company. The Company holds the portfolio of education loans insured or guaranteed under the Federal Family Education Loan Program (FFELP), as well as the portfolio of Private Education Loans. FFELP Loans are insured or guaranteed by state based on guaranty agreements among the United States Department of Education (ED) and these agencies. Private Education Loans are education loans to students or their families that bear the full credit risk of the customer and any cosigner. The Company operates in three segments: FFELP Loans, Private Education Loans and Business Services. The Company services its own portfolio of education loans, as well as those owned by banks, credit unions, non-profit education lenders and ED. It also provides asset recovery services on its own portfolio, guaranty agencies, higher education institutions, ED and other federal clients, as well as states, courts and municipalities.