Navient Corp’s filing revealed that its EVP, CLO & Secretary HELEEN MARK L unloaded Company’s shares for reported $0.17 million on Jan 31 ’24. In the deal valued at $17.20 per share,10,000 shares were sold. As a result of this transaction, HELEEN MARK L now holds 385,577 shares worth roughly $6.61 million.
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Then, KANE JOHN M sold 150,132 shares, generating $2,855,090 in total proceeds. Upon selling the shares at $19.02, the EVP & Group President now owns 490,778 shares.
Before that, HELEEN MARK L sold 10,000 shares. Navient Corp shares valued at $169,863 were divested by the EVP, CLO & Secretary at a price of $16.99 per share. As a result of the transaction, HELEEN MARK L now holds 395,330 shares, worth roughly $6.78 million.
Deutsche Bank initiated its Navient Corp [NAVI] rating to a Hold in a research note published recently. A number of analysts have revised their coverage, including Barclays’s analysts, who decreased its forecast for the stock in early January from “an Equal weight” to “an Underweight”. TD Cowen also remained covering NAVI and has decreased its forecast on January 08, 2024 with a “an Underperform” recommendation from previously “Market perform” rating. Stephens revised its rating on January 02, 2024. It rated NAVI as “an Underweight” which previously was an “an Equal-weight”.
Price Performance Review of NAVI
On Monday, Navient Corp [NASDAQ:NAVI] saw its stock jump 1.96% to $17.15. Over the last five days, the stock has gained 5.47%. Navient Corp shares have fallen nearly -7.89% since the year began. Nevertheless, the stocks have risen 11.87% over the past one year. While a 52-week high of $19.69 was reached on 01/02/24, a 52-week low of $14.10 was recorded on 02/07/24. SMA at 50 days reached $16.66, while 200 days put it at $17.52. A total of 0.62 million shares were traded, compared to the trading of 0.76 million shares in the previous session.
Levels Of Support And Resistance For NAVI Stock
The 24-hour chart illustrates a support level at 16.89, which if violated will result in even more drops to 16.63. On the upside, there is a resistance level at 17.31. A further resistance level may holdings at 17.46. The Relative Strength Index (RSI) on the 14-day chart is 59.63, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.33, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 5.19%. Stochastics %K at 82.96% indicates the stock is a selling.
How much short interest is there in Navient Corp?
A steep rise in short interest was recorded in Navient Corp stocks on Feb 29, 2024, growing by 0.2 million shares to a total of 7.7 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 7.5 million shares. There was a rise of 2.6%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 11.80% of the overall stock float, the days-to-cover ratio (short ratio) rose to 7.06.
The most recent change occurred on November 15, 2023 when Barclays began covering the stock and recommended ‘”an Equal weight”‘ rating along with a $17 price target.
