The Executive Chairman of Board of Nelnet (NYSE: NNI) is Selling Shares

By Carrie Williams

Today, the Executive Chairman of Board of Nelnet (NNIResearch Report), Michael Dunlap, sold shares of NNI for $60.04M.

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Based on Nelnet’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $251 million and GAAP net loss of -$40,532,000. In comparison, last year the company earned revenue of $239 million and had a net profit of $41.59 million. The company has a one-year high of $69.97 and a one-year low of $36.70. NNI’s market cap is $1.74 billion and the company has a P/E ratio of 29.90.

The insider sentiment on Nelnet has been negative according to 32 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Nelnet, Inc. engages in the provision of education-related products and services, as well as loan asset management. It operates through the business following segments: Loan Systems & Servicing, Education Technology, Services and Payment Processing, Communications, and Asset Generation and Management. The System & Servicing segment specializes in student loan portfolio and the portfolios of third parties such as loan conversion activities, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliations, and claim processing. The Education Technology, Services and Payment Processing segment provides products and services to help students and families manage the payment of education costs at all levels, as well as school information system software for private and faith-based schools that help schools automate administrative processes such as admissions, scheduling, student billing, attendance, and grade book management. The Communications segment is the operation of Allo Communications LLC which provides pure optic service to homes and businesses for internet, broadband, television, and telephone services. The Asset Generation & Management segment is the acquisition, management, and ownership of student loan assets. The company was founded by Michael S. Dunlap and Stephen F. Butterfield in 1977 and is headquartered in Lincoln, NE.