5 Stocks to Invest In According to Adam Peterson’s Magnolia Capital Fund

3. Nelnet, Inc. (NYSE:NNI)

Peterson’s Stake Value: $136,469,000
Percentage of Adam Peterson’s 13F Portfolio: 16.96%
Number of Hedge Fund Holders: 14

On August 30, Nelnet, Inc. (NYSE:NNI) declared a quarterly dividend of $0.22 per share, in line with the previous. On August 4, Nelnet, Inc. (NYSE:NNI) posted earnings for the second quarter of 2021. It announced earnings per share of $2.20, surpassing the estimates by $0.56. Revenue for the second quarter was $340.44 million, up 7.7% year over year, beating the analysts’ expectations by $52.44 million.

Adam Peterson’s Magnolia Capital Fund holds about 1.81 million shares of Nelnet, Inc. (NYSE:NNI), worth $136.47 million. Nelnet occupies 16.96% of Magnolia Capital Fund’s total portfolio. In addition, hedge funds are loading up on Nelnet, Inc. (NYSE:NNI), as Insider Monkey’s data shows that 14 hedge funds held a stake in the company in the second quarter of 2021, compared to 11 funds in the previous quarter.