SLM Corp (NASDAQ:SLM) Short Interest Update

SLM Corp (NASDAQ:SLM) was the target of a significant increase in short interest in the month of March. As of March 13th, there was short interest totalling 53,937,000 shares, an increase of 371.1% from the February 27th total of 11,450,000 shares. Based on an average daily volume of 5,879,600 shares, the short-interest ratio is presently 9.2 days. Currently, 12.9% of the shares of the company are sold short.

SLM has been the topic of several recent research reports. ValuEngine downgraded SLM from a “hold” rating to a “sell” rating in a research report on Wednesday. Credit Suisse Group restated a “buy” rating and set a $14.50 target price on shares of SLM in a research report on Thursday, February 13th. TheStreet upgraded SLM from a “c+” rating to a “b-” rating in a research report on Wednesday, February 5th. Oppenheimer downgraded SLM from an “outperform” rating to a “hold” rating in a research report on Thursday, January 23rd. Finally, Citigroup increased their target price on SLM from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. SLM presently has an average rating of “Hold” and a consensus target price of $13.90.

Shares of SLM stock traded up $0.56 on Thursday, reaching $7.75. The company’s stock had a trading volume of 5,356,000 shares, compared to its average volume of 5,380,259. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.50. SLM has a 12-month low of $5.60 and a 12-month high of $12.32. The company has a market capitalization of $3.28 billion, a P/E ratio of 5.96, a PEG ratio of 0.34 and a beta of 1.30. The stock’s 50 day simple moving average is $10.00 and its 200-day simple moving average is $9.25.

SLM (NASDAQ:SLM) last issued its quarterly earnings data on Wednesday, January 22nd. The credit services provider reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.03. SLM had a return on equity of 20.27% and a net margin of 24.30%. The company had revenue of $419.10 million for the quarter, compared to the consensus estimate of $411.71 million. During the same quarter last year, the business posted $0.31 earnings per share. Research analysts expect that SLM will post 1.88 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, March 6th were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.55%. SLM’s dividend payout ratio (DPR) is presently 9.45%.

In other SLM news, Director Earl A. Goode sold 7,323 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $11.24, for a total transaction of $82,310.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.45% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. First Trust Advisors LP raised its holdings in shares of SLM by 3.2% in the first quarter. First Trust Advisors LP now owns 496,117 shares of the credit services provider’s stock worth $4,917,000 after buying an additional 15,153 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in SLM by 49.1% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 169,597 shares of the credit services provider’s stock valued at $1,680,000 after acquiring an additional 55,858 shares during the last quarter. Voya Investment Management LLC lifted its position in SLM by 43.7% during the third quarter. Voya Investment Management LLC now owns 321,665 shares of the credit services provider’s stock valued at $2,839,000 after acquiring an additional 97,794 shares during the last quarter. Voya Financial Advisors Inc. lifted its position in SLM by 6.7% during the third quarter. Voya Financial Advisors Inc. now owns 23,214 shares of the credit services provider’s stock valued at $209,000 after acquiring an additional 1,453 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in SLM during the third quarter valued at approximately $262,000. Institutional investors own 96.96% of the company’s stock.

About SLM

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.

See Also: Initial Public Offering (IPO)

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