Nelnet (NNI) Continued to Buyback its Shares in the Second Quarter

Mindset Capital, an investment management company, released its “Mindset Value Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. At the end of the second quarter, the fund was down 32%. The investment in the cannabis portion of the portfolio fell by over 50% and impacted the fund’s overall performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Mindset Capital discussed stocks like Nelnet, Inc. (NYSE:NNI) in the second quarter investor letter. Headquartered in Lincoln, Nebraska, Nelnet, Inc. (NYSE:NNI) is an education technology, services, and payments and communications company. On September 15, 2022, Nelnet, Inc. (NYSE:NNI) stock closed at $80.09 per share. One-month return of Nelnet, Inc. (NYSE:NNI) was -9.52% and its shares gained 2.21% of their value over the last 52 weeks. Nelnet, Inc. (NYSE:NNI) has a market capitalization of $2.981 billion.

Here is what Mindset Capital specifically said about Nelnet, Inc. (NYSE:NNI) in its Q2 2022 investor letter:

“Nelnet, Inc. (NYSE:NNI) continues to buyback 1% of the company every quarter and dipped to an incredible $73 per share in June, but the power of a continued buyback is eventually panic selling goes away. It is currently above $93 per share and is now only down 4% for the year.”

brooke-cagle-g1Kr4Ozfoac-unsplash

Nelnet, Inc. (NYSE:NNI) is not on the list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 10 hedge fund portfolios were held by Nelnet, Inc. (NYSE:NNI) at the end of the second quarter which was 11 in the previous quarter.

We discussed Nelnet, Inc. (NYSE:NNI) in another article and shared Arch Capital Management’s views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.