SLM Sees Unusually High Options Volume (NASDAQ:SLM)

SLM Corp (NASDAQ:SLM) was the target of unusually large options trading activity on Thursday. Investors purchased 3,610 put options on the company. This represents an increase of 1,906% compared to the typical daily volume of 180 put options.

SLM stock traded down $0.11 during midday trading on Friday, reaching $8.19. The company’s stock had a trading volume of 2,540,466 shares, compared to its average volume of 3,564,659. SLM has a fifty-two week low of $7.76 and a fifty-two week high of $12.09. The firm has a market capitalization of $3.54 billion, a PE ratio of 7.65, a P/E/G ratio of 0.50 and a beta of 1.41. The stock’s 50 day simple moving average is $8.99 and its 200 day simple moving average is $9.91. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.37 and a current ratio of 1.37.

SLM (NASDAQ:SLM) last announced its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. SLM had a return on equity of 20.44% and a net margin of 26.18%. The business had revenue of $396.87 million during the quarter, compared to analysts’ expectations of $401.69 million. During the same quarter last year, the business posted $0.25 earnings per share. Equities analysts predict that SLM will post 1.23 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, September 6th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, September 5th. SLM’s dividend payout ratio is currently 11.21%.

Hedge funds have recently made changes to their positions in the company. Huntington National Bank increased its position in SLM by 69.2% during the 1st quarter. Huntington National Bank now owns 2,890 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 1,182 shares in the last quarter. HM Payson & Co. purchased a new stake in SLM in the 2nd quarter valued at about $46,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in SLM in the 2nd quarter valued at about $49,000. Doyle Wealth Management purchased a new stake in SLM in the 2nd quarter valued at about $51,000. Finally, Twin Tree Management LP purchased a new stake in SLM in the 1st quarter valued at about $52,000. Institutional investors and hedge funds own 99.95% of the company’s stock.

A number of brokerages have recently issued reports on SLM. BidaskClub lowered shares of SLM from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 14th. ValuEngine raised SLM from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 24th. Compass Point downgraded SLM from a “buy” rating to a “neutral” rating in a report on Friday, July 26th. BMO Capital Markets set a $16.00 price target on SLM and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Oppenheimer set a $12.00 price target on SLM and gave the stock a “buy” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price 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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