He thinks the student-loan company would be better off selling its assets
Leon Cooperman loves student-loan giant Navient Corp. The billionaire hedge fund investor believes the company, which has a contract to manage and collect payments on federal student loans, performs a valuable public service. He also likes Jack Remondi, the chief executive he calls a “high- quality guy” running a “noble” business.
But the rest of Wall Street—not to mention the Consumer Financial Protection Bureau and some states—don’t share Cooperman’s affection for Navient. The stock is trading at about $13 per share, below both the $25 Cooperman thinks it’s worth and Remondi’s “low- to mid-$20” mark. It’s also fighting lawsuits that accuse it of cheating student debtors, and there’s little sign that government scrutiny will abate.
Diese Geschichte stammt aus der January 01, 2018-Ausgabe von Bloomberg Businessweek Middle East.
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Diese Geschichte stammt aus der January 01, 2018-Ausgabe von Bloomberg Businessweek Middle East.
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