Ellis Investment Partners LLC cut its position in shares of SLM Corp (NASDAQ:SLM) by 4.0% during the third quarter, HoldingsChannel.com reports. The firm owned 84,037 shares of the credit services provider’s stock after selling 3,489 shares during the period. Ellis Investment Partners LLC’s holdings in SLM were worth $716,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SLM. HM Payson & Co. bought a new stake in shares of SLM during the second quarter valued at approximately $46,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of SLM during the second quarter valued at approximately $49,000. Doyle Wealth Management bought a new stake in shares of SLM during the second quarter valued at approximately $51,000. SRS Capital Advisors Inc. bought a new stake in shares of SLM during the second quarter valued at approximately $53,000. Finally, Qube Research & Technologies Ltd bought a new stake in shares of SLM during the second quarter valued at approximately $106,000. Institutional investors and hedge funds own 98.46% of the company’s stock.
SLM stock traded up $0.09 during trading on Wednesday, hitting $8.20. The company had a trading volume of 1,409,401 shares, compared to its average volume of 3,342,472. The company has a fifty day moving average price of $8.78 and a two-hundred day moving average price of $9.44. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.80. The company has a market cap of $3.46 billion, a P/E ratio of 7.66, a P/E/G ratio of 0.50 and a beta of 1.45. SLM Corp has a fifty-two week low of $7.76 and a fifty-two week high of $11.53.
A number of analysts have recently issued reports on the company. TheStreet cut SLM from a “b-” rating to a “c+” rating in a research report on Thursday, August 29th. ValuEngine upgraded SLM from a “strong sell” rating to a “sell” rating in a research report on Friday, September 20th. Oppenheimer set a $12.00 price objective on SLM and gave the company a “buy” rating in a research report on Friday, July 26th. BMO Capital Markets set a $16.00 price objective on SLM and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Compass Point cut SLM from a “buy” rating to a “neutral” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $12.83.
SLM Company Profile
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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