Sunday, June 26, 2022

Insider Buying: Newbury Investors LLC, Navient Corporation [NAVI] 10% Owner invested 326,000 shares

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Navient Corporation shares valued at $5,584,380 were purchased by Newbury Investors LLC on Apr 01. At $17.13 per share, Newbury Investors LLC acquired 326,000 shares. The insider’s holdings grew to 29,449,997 shares worth approximately $404.05 million following the completion of this transaction.


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Also, Newbury Investors LLC purchased 315,408 shares, netting a total of over 5,402,939 in proceeds. Following the buying of shares at $17.13 each, the insider now holds 29,123,997 shares.

Before that, HAUBER STEPHEN M had sold 3,161 shares from its account. In a trade valued at $55,839, the EVP, Chief Risk&Compliance Off traded Navient Corporation shares for $17.66 each. Upon closing the transaction, the insider’s holdings decreased to 3,161 shares, worth approximately $2.56 million.

As published in a research note from JP Morgan on April 11, 2022, Navient Corporation [NAVI] has been rated down from a Neutral to an Underweight and the price target has been revised to $17 from $21. This represents a 19.29% premium over Thursday’s closing price. Analysts at Compass Point downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late March. As of January 03, 2022, Stephens has decreased its “an Overweight” rating to a “an Equal-weight” for NAVI. Earlier on September 30, 2021, Seaport Global Securities initiated its rating. Their recommendation was “a Neutral” for NAVI stock.

Analyzing NAVI’s Price Performance

On Thursday, Navient Corporation [NASDAQ: NAVI] rose 1.40% to $13.72. The stock’s lowest price that day was $13.345, but it reached a high of $13.75 in the same session. During the last five days, there has been a surge of approximately 0.51%. Over the course of the year, Navient Corporation shares have dropped approximately -35.34%. Shares of the company reached a 52-week high of $22.59 on 01/13/22 and a 52-week low of $12.45 on 06/16/22. A 50-day SMA is recorded $15.54, while a 200-day SMA reached $18.54. Nevertheless, trading volume fell to 1.75 million shares from 1.45 million shares the previous day.

Support And Resistance Levels for Navient Corporation (NAVI)

According to the 24-hour chart, there is a support level at 13.46, which, if violated, would cause prices to drop to 13.20. In the upper region, resistance lies at 13.86. The next price resistance is at 14.01. RSI (Relative Strength Index) is 41.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.56, which suggests the price will decrease in the coming days. Percent R is at 62.54%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Navient Corporation subject to short interest?

Stocks of Navient Corporation saw a sharp rise in short interest on May 30, 2022 jumping by 1.05 million shares to 8.03 million. Data from Yahoo Finance shows that the short interest on Apr 28, 2022 was 6.98 million shares. A jump of 13.08% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.28 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.28.

Which companies own the most shares of Navient Corporation (NAVI)?

According to Sherborne Investors Management LP filings, the company currently owns 29,449,997 shares, which is about 19.91% of the total NAVI shares outstanding. The investor’s shares have plunged by 0 from its previous 13-F filing of 29449997.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $252,538,016. The Vanguard Group, Inc. reduced a -7.88% interest valued at $232.42 million while Dimensional Fund Advisors LP sold a -761,958 stake. A total of -95,135 shares of Navient Corporation were sold by LSV Asset Management during the quarter, and -87,154 were sold by SSgA Funds Management, Inc. In its current portfolio, Fidelity Management & Research Co holds 2,989,473 shares valued at $47.83 million.

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