Stock of the Day: What Next for SLM Corp Stock After Touching 52-Week High?

Stock of the Day: What Next for SLM Corp Stock After Touching 52 Week High?

The stock of SLM Corp (NASDAQ:SLM) hit a new 52-week high and has $13.79 target or 68.00% above today’s $8.21 share price. The 9 months bullish chart indicates low risk for the $3.51B company. The 1-year high was reported on Nov, 9 by If the $13.79 price target is reached, the company will be worth $2.39 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 10.72M shares traded hands or 233.96% up from the average. SLM Corp (NASDAQ:SLM) has risen 12.70% since April 7, 2016 and is uptrending. It has outperformed by 7.92% the S&P500.

SLM Corp (NASDAQ:SLM) Ratings Coverage

Out of 4 analysts covering Sallie Mae (NASDAQ:SLM), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Sallie Mae has been the topic of 6 analyst reports since October 12, 2015 according to StockzIntelligence Inc. JP Morgan initiated the shares of SLM in a report on Monday, November 30 with “Overweight” rating. Compass Point maintained SLM Corp (NASDAQ:SLM) rating on Monday, October 12. Compass Point has “Buy” rating and $11 price target. The stock of SLM Corp (NASDAQ:SLM) earned “Buy” rating by Compass Point on Thursday, January 21. The firm earned “Buy” rating on Thursday, July 14 by Citigroup. The stock of SLM Corp (NASDAQ:SLM) has “Buy” rating given on Wednesday, January 13 by Goldman Sachs. The rating was maintained by Goldman Sachs with “Buy” on Wednesday, August 10.

According to Zacks Investment Research, “SLM Corporation is the one of nation’s largest private sources of funding and servicing support for higher education loans for students and their parents. The company provides a wide range of financial services, processing capabilities and information technology to meet the needs of educational institutions, lenders, students and guarantee agencies.”

Insitutional Activity: The institutional sentiment increased to 1.31 in 2016 Q2. Its up 0.26, from 1.05 in 2016Q1. The ratio is positive, as 30 funds sold all SLM Corp shares owned while 63 reduced positions. 30 funds bought stakes while 92 increased positions. They now own 426.22 million shares or 6.70% more from 399.45 million shares in 2016Q1.
Dynamic Capital Management Ltd holds 0.13% of its portfolio in SLM Corp (NASDAQ:SLM) for 185,785 shares. Clean Yield reported 21 shares or 0% of all its holdings. Tcw Gp Inc holds 0.01% or 116,608 shares in its portfolio. Barclays Public Ltd Com holds 17,238 shares or 0% of its portfolio. Tci Wealth Advisors Inc accumulated 0% or 179 shares. Teachers Retirement System Of The State Of Kentucky holds 0.01% of its portfolio in SLM Corp (NASDAQ:SLM) for 98,300 shares. Gam Ag last reported 0.03% of its portfolio in the stock. Spot Trading Ltd Liability Corporation reported 26,703 shares or 0% of all its holdings. The Massachusetts-based Winslow Evans Crocker has invested 0% in SLM Corp (NASDAQ:SLM). Fmr Limited Liability Corp holds 0.03% or 36.34M shares in its portfolio. Hotchkis & Wiley Mngmt Ltd Liability Corp holds 0.06% or 2.19M shares in its portfolio. Gotham Asset Management Ltd Liability Corporation accumulated 0% or 48,944 shares. Art Advsr Limited Liability Company has 0.05% invested in the company for 163,177 shares. Louisiana State Employees Retirement Systems holds 113,800 shares or 0.04% of its portfolio. Eaton Vance Mngmt holds 0% of its portfolio in SLM Corp (NASDAQ:SLM) for 10,200 shares.

Insider Transactions: Since October 28, 2016, the stock had 3 insider buys, and 0 selling transactions for $211,700 net activity. SHIEBLER WILLIAM N had bought 10,000 shares worth $70,200. $70,300 worth of SLM Corp (NASDAQ:SLM) shares were bought by GOODE EARL A. 10,000 SLM Corp (NASDAQ:SLM) shares with value of $71,200 were bought by KELER MARIANNE M.

More recent SLM Corp (NASDAQ:SLM) news were published by: which released: “Form 8-K SLM CORP For: Nov 08” on November 08, 2016. Also published the news titled: “Ex-Div Reminder for SLM Corp.’s Cumulative Redeemable Preferred Stock, Series A” on October 17, 2016.‘s news article titled: “BRIEF-SLM Corp says launching new parental leave benefit” with publication date: October 17, 2016 was also an interesting one.

SLM Company Profile

SLM Corporation, incorporated on December 2, 2013, is a holding company. The Company’s primary business is to originate and service loans it makes to students and their families to finance the cost of their education. The Firm is a saving, planning and paying for education company. It is engaged in originating and servicing Private Education Loans it makes to students and their families. The Firm uses Private Education Loans to mean education loans to students or their families that are not made, insured or guaranteed by any state or federal government. The Firm also operates Upromise, Inc. (Upromise), a consumer savings network that provides financial rewards on everyday purchases to help families save for college.

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