Insider Selling: SLM Corporation (SLM) CEO Sells 200,000 Shares of Stock

SLM Corporation (NASDAQ:SLM) CEO Raymond J. Quinlan sold 200,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $11.52, for a total value of $2,304,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,080,133 shares in the company, valued at $12,443,132.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of SLM Corporation (NASDAQ SLM) traded up $0.41 during trading on Tuesday, reaching $11.80. The company’s stock had a trading volume of 6,637,600 shares, compared to its average volume of 3,159,011. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.35. The company has a market cap of $4,919.22, a P/E ratio of 16.51 and a beta of 1.33. SLM Corporation has a 52-week low of $9.65 and a 52-week high of $13.20.

SLM (NASDAQ:SLM) last posted its quarterly earnings data on Wednesday, October 18th. The credit services provider reported $0.17 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.17. SLM had a return on equity of 16.63% and a net margin of 22.95%. The company had revenue of $282.06 million for the quarter, compared to the consensus estimate of $282.02 million. During the same quarter in the previous year, the business earned $0.12 EPS. The company’s quarterly revenue was up 26.3% compared to the same quarter last year. equities research analysts predict that SLM Corporation will post 0.72 earnings per share for the current year.

A number of analysts have issued reports on SLM shares. Zacks Investment Research raised SLM from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Wedbush reissued an “outperform” rating and issued a $14.50 price target on shares of SLM in a research note on Thursday, September 14th. FBR & Co reissued a “buy” rating and issued a $13.00 price target on shares of SLM in a research note on Tuesday, September 19th. BidaskClub upgraded SLM from a “strong sell” rating to a “sell” rating in a report on Thursday, September 28th. Finally, BMO Capital Markets restated a “hold” rating and issued a $12.00 price objective on shares of SLM in a report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. SLM currently has a consensus rating of “Hold” and an average price target of $13.44.

Institutional investors have recently made changes to their positions in the company. Crossmark Global Holdings Inc. purchased a new position in shares of SLM during the third quarter valued at $666,000. SG Americas Securities LLC raised its holdings in SLM by 7.9% in the 2nd quarter. SG Americas Securities LLC now owns 135,569 shares of the credit services provider’s stock valued at $1,559,000 after acquiring an additional 9,887 shares in the last quarter. Rhumbline Advisers raised its holdings in SLM by 16.9% in the 3rd quarter. Rhumbline Advisers now owns 909,428 shares of the credit services provider’s stock valued at $10,431,000 after acquiring an additional 131,348 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in SLM by 3.5% in the 2nd quarter. Mutual of America Capital Management LLC now owns 357,472 shares of the credit services provider’s stock valued at $4,111,000 after acquiring an additional 12,017 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in SLM in the 3rd quarter valued at approximately $1,248,000. 99.26% of the stock is currently owned by institutional investors.

WARNING: “Insider Selling: SLM Corporation (SLM) CEO Sells 200,000 Shares of Stock” was posted by Community Financial News and is the property of of Community Financial News. If you are accessing this article on another site, it was stolen and republished in violation of US & international copyright legislation. The correct version of this article can be viewed at https://www.com-unik.info/2017/12/05/insider-selling-slm-corporation-slm-ceo-sells-200000-shares-of-stock.html.

About SLM

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.

What are top analysts saying about SLM Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for SLM Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit