Navient Corp (NAVI) reported quarterly earnings results on Tuesday, Jul-19-2016. The company said it had a profit of $0.47 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.44. Analysts expectations of $403.00 million. During the same quarter in the previous year, the company posted $0.40 EPS.
Navient Corp opened for trading at $13.82 and hit $14 on the upside on Monday, eventually ending the session at $13.88, with a gain of 0.14% or 0.02 points. The heightened volatility saw the trading volume jump to 22,26,544 shares. Company has a market cap of $4,588 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.