SLM (NASDAQ:SLM) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Wednesday.
Several other brokerages also recently commented on SLM. Zacks Investment Research upgraded SLM from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Thursday, January 11th. Jefferies Group restated a “buy” rating and issued a $16.00 target price on shares of SLM in a research note on Thursday, January 11th. Citigroup assumed coverage on SLM in a research note on Monday, January 8th. They issued an “outperform” rating and a $17.00 target price for the company. Oppenheimer started coverage on SLM in a research note on Monday, January 8th. They issued an “outperform” rating and a $17.00 target price for the company. Finally, Bank of America dropped their price target on SLM from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $14.18.
Shares of SLM (NASDAQ:SLM) traded down $0.22 during midday trading on Wednesday, reaching $11.16. The company’s stock had a trading volume of 658,793 shares, compared to its average volume of 4,407,633. SLM has a fifty-two week low of $9.65 and a fifty-two week high of $13.20. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.58. The company has a market cap of $4,916.45, a P/E ratio of 18.02, a P/E/G ratio of 0.54 and a beta of 1.33.
In related news, CFO Steven Mcgarry sold 13,836 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $11.62, for a total transaction of $160,774.32. Following the transaction, the chief financial officer now directly owns 366,433 shares of the company’s stock, valued at approximately $4,257,951.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jeffrey Dale sold 37,807 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $11.21, for a total value of $423,816.47. Following the transaction, the senior vice president now directly owns 88,808 shares in the company, valued at $995,537.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 274,939 shares of company stock valued at $3,112,679. Corporate insiders own 0.59% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB purchased a new position in shares of SLM during the 4th quarter valued at about $527,000. Banco de Sabadell S.A purchased a new position in shares of SLM during the 4th quarter valued at about $3,239,000. MetLife Investment Advisors LLC purchased a new position in shares of SLM during the 4th quarter valued at about $3,088,000. Jane Street Group LLC raised its holdings in shares of SLM by 48.5% during the 4th quarter. Jane Street Group LLC now owns 26,325 shares of the credit services provider’s stock valued at $297,000 after buying an additional 8,593 shares in the last quarter. Finally, Verition Fund Management LLC raised its holdings in shares of SLM by 410.7% during the 4th quarter. Verition Fund Management LLC now owns 77,333 shares of the credit services provider’s stock valued at $874,000 after buying an additional 62,190 shares in the last quarter. 99.35% of the stock is currently owned by institutional investors.
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SLM Company Profile
SLM Corporation (Sallie Mae) is the nation’s saving, planning, and paying for college company. Sallie Mae offers products, which promote personal finance including private education loans, Upromise rewards, scholarship search, college financial planning tools, insurance, and online retail banking.
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