SLM Target of Unusually Large Options Trading (SLM)
SLM Corp (NASDAQ:SLM) was the target of unusually large options trading on Thursday. Stock investors bought 1,497 put options on the stock. This is an increase of approximately 2,672% compared to the average daily volume of 54 put options.
A number of brokerages have weighed in on SLM. Zacks Investment Research raised SLM from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Tuesday, January 15th. BidaskClub raised SLM from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 25th. ValuEngine raised SLM from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th. TheStreet raised SLM from a “c+” rating to a “b-” rating in a research report on Monday, January 28th. Finally, Wedbush reaffirmed an “outperform” rating on shares of SLM in a research report on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. SLM currently has an average rating of “Hold” and a consensus target price of $13.18.
SLM stock opened at $9.90 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market capitalization of $4.40 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 0.42 and a beta of 1.48. SLM has a 52 week low of $7.95 and a 52 week high of $12.46.
In related news, SVP Jonathan Boyles sold 68,000 shares of SLM stock in a transaction on Friday, March 1st. The stock was sold at an average price of $11.20, for a total transaction of $761,600.00. Following the completion of the sale, the senior vice president now owns 67,679 shares of the company’s stock, valued at $758,004.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Paul F. Thome sold 25,000 shares of the business’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $11.10, for a total value of $277,500.00. Following the completion of the sale, the executive vice president now directly owns 208,049 shares of the company’s stock, valued at approximately $2,309,343.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,805 shares of company stock valued at $1,047,625. 0.36% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Wedbush Securities Inc. bought a new position in SLM during the first quarter valued at about $247,000. Northpointe Capital LLC bought a new position in SLM during the first quarter valued at about $2,708,000. Retirement Systems of Alabama increased its stake in SLM by 0.7% during the first quarter. Retirement Systems of Alabama now owns 568,609 shares of the credit services provider’s stock valued at $5,635,000 after acquiring an additional 3,752 shares during the period. Louisiana State Employees Retirement System increased its stake in SLM by 1.2% during the first quarter. Louisiana State Employees Retirement System now owns 117,000 shares of the credit services provider’s stock valued at $1,159,000 after acquiring an additional 1,400 shares during the period. Finally, Selz Capital LLC increased its stake in SLM by 54.0% during the first quarter. Selz Capital LLC now owns 770,000 shares of the credit services provider’s stock valued at $7,630,000 after acquiring an additional 270,000 shares during the period.
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SLM Corporation, through 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 or their families. It also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high yield savings accounts; omnibus accounts; and a consumer savings network that provides financial rewards on everyday purchases to help families save for college.
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