Omega Advisors Lowers stake in Navient Corp (NAVI)

Navient Corp (NAVI) : Omega Advisors reduced its stake in Navient Corp by 18.01% during the most recent quarter end. The investment management company now holds a total of 11,318,580 shares of Navient Corp which is valued at $199,093,822 after selling 2,485,487 shares in Navient Corp , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Navient Corp makes up approximately 6.13% of Omega Advisors’s portfolio.

Other Hedge Funds, Including , Teachers Retirement System Of The State Of Kentucky reduced its stake in NAVI by selling 106,400 shares or 8.85% in the most recent quarter. The Hedge Fund company now holds 1,096,490 shares of NAVI which is valued at $19,287,259. Navient Corp makes up approx 0.24% of Teachers Retirement System Of The State Of Kentucky’s portfolio.Mutual Of America Capital Management reduced its stake in NAVI by selling 6,762 shares or 17.69% in the most recent quarter. The Hedge Fund company now holds 31,470 shares of NAVI which is valued at $417,607. Navient Corp makes up approx 0.01% of Mutual Of America Capital Management’s portfolio.Meeder Asset Management Inc boosted its stake in NAVI in the latest quarter, The investment management firm added 24,107 additional shares and now holds a total of 170,366 shares of Navient Corp which is valued at $2,318,681. Navient Corp makes up approx 0.20% of Meeder Asset Management Inc’s portfolio.

Navient Corp closed down -0.07 points or -0.40% at $17.62 with 29,14,906 shares getting traded on Monday. Post opening the session at $17.74, the shares hit an intraday low of $17.55 and an intraday high of $17.75 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Navient Corp reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Oct 18, 2016. Analyst had a consensus of $0.48. The company had revenue of $405.00 million for the quarter, compared to analysts expectations of $392.67 million. The company’s revenue was down -12.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.47 EPS.

Investors should note that on Oct 6, 2016, Navient Corp announced a cash dividend of $0.1600. The company’s management has announced Nov 30, 2016 as the ex-dividend date and fixed the record date on Dec 2, 2016. The payable date has been fixed on Dec 16, 2016.

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.

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