Goldman Sachs Downgrades Navient Corp to Neutral

Brokerage firm Goldman Sachs Downgrades its rating on Navient Corp(NASDAQ:NAVI). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Goldman Sachs was issued on Jul 21, 2016.

Navient Corp (NAVI) made into the market gainers list on Wednesdays trading session with the shares advancing 4.36% or 0.6 points. Due to strong positive momentum, the stock ended at $14.37, which is also near the day’s high of $14.47. The stock began the session at $14 and the volume stood at 47,07,967 shares. The 52-week high of the shares is $16.67 and the 52 week low is $8.2. The company has a current market capitalization of $4,749 M and it has 33,05,13,820 shares in outstanding.

Navient Corp(NAVI) last announced its earnings results on Apr 19, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $486.00M. Analysts had an estimated revenue of $427.75M. Earnings per share were $0.44. Analysts had estimated an EPS of $0.41.

Several Insider Transactions has been reported to the SEC. On Feb 10, 2016, John F Remondi (CEO) purchased 80,000 shares at $8.79 per share price.Also, On Feb 8, 2016, Mark L Heleen (EVP & Chief Legal Officer) purchased 3,800 shares at $9.39 per share price.On Nov 3, 2015, Katherine A Lehman (director) purchased 2,500 shares at $13.22 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Navient Corp - Is it time to Sell?

Top Brokerage Firms are advising their investors on Navient Corp. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.