Navient Corp (NAVI) is Downgraded by Goldman to Neutral

Navient Corp (NAVI) was Downgraded by Goldman to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Goldman advised their investors in a research report released on Jul 21, 2016.

On the company’s financial health, Navient Corp reported $0.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $0.44.Analysts expectations of $ 403.00.During the same quarter in the previous year, the company posted $0.40 EPS.

Navient Corp opened for trading at $14 and hit $14.47 on the upside on Wednesday, eventually ending the session at $14.37, with a gain of 4.36% or 0.6 points. The heightened volatility saw the trading volume jump to 47,07,967 shares. Company has a market cap of $4,749 M.

In a different news, on Feb 10, 2016, John F Remondi (CEO) purchased 80,000 shares at $8.79 per share price. According to the SEC, 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.

Navient Corp

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