Short Interest in SLM Corp (SLM) Drops By 7.5%
SLM Corp (NASDAQ:SLM) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 22,046,942 shares, a decline of 7.5% from the August 15th total of 23,822,375 shares. Currently, 5.1% of the shares of the stock are short sold. Based on an average daily volume of 1,770,139 shares, the days-to-cover ratio is currently 12.5 days.
Several equities analysts have weighed in on SLM shares. Wells Fargo & Co set a $14.00 price target on SLM and gave the stock a “buy” rating in a research report on Friday, July 6th. Oppenheimer set a $16.00 price target on SLM and gave the stock a “buy” rating in a research report on Wednesday, July 25th. ValuEngine raised SLM from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Zacks Investment Research raised SLM from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. Finally, Wedbush dropped their price target on SLM from $14.50 to $14.25 and set an “outperform” rating for the company in a research report on Wednesday, May 30th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $14.52.
Shares of NASDAQ:SLM opened at $11.65 on Friday. The firm has a market capitalization of $5.07 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 0.59 and a beta of 1.18. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.81. SLM has a 52 week low of $9.65 and a 52 week high of $12.46.
In related news, EVP Paul F. Thome sold 22,104 shares of SLM stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $11.13, for a total transaction of $246,017.52. Following the completion of the transaction, the executive vice president now directly owns 183,383 shares of the company’s stock, valued at $2,041,052.79. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.36% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Calamos Wealth Management LLC purchased a new stake in SLM during the second quarter valued at about $129,000. Oppenheimer & Co. Inc. purchased a new stake in SLM during the first quarter valued at about $133,000. Gillespie Robinson & Grimm Inc. purchased a new stake in SLM during the second quarter valued at about $149,000. BB&T Securities LLC purchased a new stake in SLM during the second quarter valued at about $153,000. Finally, American Asset Management Inc. purchased a new stake in SLM during the second quarter valued at about $187,000. 99.73% of the stock is owned by institutional investors and hedge funds.
SLM Company Profile
SLM Corporation, together with its subsidiaries, operates as a saving, planning, and paying for college company in the United States. The company originates and services private education loans to students and their families. Its loan portfolio also includes federal family education loan program, personal, and other loans.
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