Price Action To Observe: SLM Corp Just Reaches 52-Week High?

Price Action To Observe: SLM Corp Just Reaches 52 Week High?

The stock of SLM Corp (NASDAQ:SLM) hit a new 52-week high and has $10.10 target or 3.00% above today’s $9.81 share price. The 8 months bullish chart indicates low risk for the $4.17B company. The 1-year high was reported on Nov, 29 by If the $10.10 price target is reached, the company will be worth $125.10 million 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 1.52M shares traded hands. SLM Corp (NASDAQ:SLM) has risen 42.21% since April 26, 2016 and is uptrending. It has outperformed by 36.95% the S&P500.

Analysts await SLM Corp (NASDAQ:SLM) to report earnings on January, 18. They expect $0.15 EPS, down 25.00% or $0.05 from last year’s $0.2 per share. SLM’s profit will be $63.76 million for 16.35 P/E if the $0.15 EPS becomes a reality. After $0.12 actual EPS reported by SLM Corp for the previous quarter, Wall Street now forecasts 25.00% EPS growth.

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. The stock of SLM Corp (NASDAQ:SLM) earned “Buy” rating by Goldman Sachs on Wednesday, August 10. The stock of SLM Corp (NASDAQ:SLM) has “Buy” rating given on Thursday, January 21 by Compass Point. As per Monday, November 30, the company rating was initiated by JP Morgan. The stock has “Buy” rating given by Compass Point on Monday, October 12. The rating was upgraded by Goldman Sachs to “Buy” on Wednesday, January 13. The rating was initiated by Citigroup on Thursday, July 14 with “Buy”.

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 decreased to 1.16 in Q2 2016. Its down 0.15, from 1.31 in 2016Q1. The ratio worsened, 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.
Swiss State Bank holds 0.01% or 703,892 shares in its portfolio. Mackenzie has 36,601 shares for 0% of their US portfolio. Pnc Financial Svcs Gru accumulated 0% or 39,208 shares. State Of Tennessee Treasury Department holds 0% of its portfolio in SLM Corp (NASDAQ:SLM) for 65,000 shares. Sg Americas Securities Limited Co last reported 784,085 shares in the company. Bank Of Mellon Corp accumulated 44.69M shares or 0.08% of the stock. Teachers Advsr holds 1.93 million shares or 0.02% of its portfolio. The Massachusetts-based Eaton Vance Mgmt has invested 0% in SLM Corp (NASDAQ:SLM). Renaissance Tech Limited Liability, a New York-based fund reported 554,900 shares. Gamco Et Al reported 208,500 shares or 0.01% of all its holdings. Blackrock Inv Mgmt Limited Liability Company has 0.04% invested in the company for 5.39 million shares. Creative Planning reported 5,053 shares or 0% of all its holdings. Ameritas Invest Prtnrs has 67,663 shares for 0.03% of their US portfolio. Comerica National Bank & Trust holds 0.02% of its portfolio in SLM Corp (NASDAQ:SLM) for 304,196 shares. Moreover, Barclays Plc has 0% invested in SLM Corp (NASDAQ:SLM) for 17,238 shares.

Insider Transactions: Since October 28, 2016, the stock had 3 insider buys, and 1 insider sale for $13,367 net activity. On Friday, October 28 KELER MARIANNE M bought $71,200 worth of the stock or 10,000 shares. $198,333 worth of SLM Corp (NASDAQ:SLM) was sold by Lutz Laurent Charles. 10,000 shares were bought by SHIEBLER WILLIAM N, worth $70,200. 10,000 SLM Corp (NASDAQ:SLM) shares with value of $70,300 were bought by GOODE EARL A.

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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