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SLM Co. (NASDAQ:SLM) Short Interest Update

Last updated on Sunday, November 22, 2020 | 2020 MarketBeat

SLM Co. (NASDAQ:SLM) was the recipient of a large drop in short interest in the month of October. As of October 30th, there was short interest totalling 12,460,000 shares, a drop of 14.3% from the October 15th total of 14,540,000 shares. Based on an average trading volume of 4,160,000 shares, the days-to-cover ratio is presently 3.0 days. Currently, 3.4% of the shares of the stock are sold short.

In related news, EVP Paul F. Thome sold 32,903 shares of SLM stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $9.25, for a total value of $304,352.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.45% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its stake in SLM by 27.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,106,057 shares of the credit services provider's stock valued at $81,758,000 after purchasing an additional 2,169,382 shares in the last quarter. HG Vora Capital Management LLC acquired a new position in shares of SLM in the 3rd quarter valued at $52,585,000. Jennison Associates LLC lifted its stake in shares of SLM by 6.6% in the 2nd quarter. Jennison Associates LLC now owns 6,064,708 shares of the credit services provider's stock valued at $42,635,000 after purchasing an additional 373,635 shares during the period. Victory Capital Management Inc. raised its stake in SLM by 2,162.0% during the 2nd quarter. Victory Capital Management Inc. now owns 5,702,678 shares of the credit services provider's stock worth $40,090,000 after buying an additional 5,450,574 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in SLM by 836.8% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 5,653,803 shares of the credit services provider's stock worth $45,739,000 after buying an additional 5,050,308 shares during the period.

A number of equities research analysts recently issued reports on the stock. TheStreet raised shares of SLM from a "c" rating to a "b-" rating in a research note on Wednesday, October 21st. Zacks Investment Research cut shares of SLM from a "hold" rating to a "strong sell" rating and set a $7.00 target price on the stock. in a research note on Wednesday, October 7th. BidaskClub raised shares of SLM from a "hold" rating to a "buy" rating in a research note on Saturday, October 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of SLM from $7.50 to $9.00 and gave the stock a "neutral" rating in a research note on Friday, October 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. SLM presently has a consensus rating of "Hold" and an average target price of $10.67.

Shares of NASDAQ SLM opened at $10.76 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 2.75. SLM has a twelve month low of $5.60 and a twelve month high of $12.32. The stock has a 50 day moving average of $9.54 and a two-hundred day moving average of $7.97. The stock has a market cap of $4.04 billion, a P/E ratio of 8.61 and a beta of 1.33.

SLM (NASDAQ:SLM) last issued its quarterly earnings data on Wednesday, October 21st. The credit services provider reported $0.47 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.14 by $0.33. SLM had a return on equity of 23.16% and a net margin of 21.15%. The company had revenue of $364.57 million during the quarter, compared to analysts' expectations of $359.42 million. During the same quarter in the previous year, the business earned $0.29 earnings per share. As a group, research analysts predict that SLM will post 1.09 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Thursday, December 3rd. SLM's dividend payout ratio (DPR) is presently 9.45%.

SLM Company Profile

SLM Corporation, through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States. 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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