Traders Purchase High Volume of SLM Put Options (SLM)

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SLM Corp (NASDAQ:SLM) was the target of some unusual options trading activity on Tuesday. Investors purchased 2,889 put options on the stock. This represents an increase of approximately 2,412% compared to the average volume of 115 put options.

Several equities analysts have recently weighed in on the stock. BidaskClub downgraded shares of SLM from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. Zacks Investment Research downgraded shares of SLM from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. ValuEngine raised shares of SLM from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. Finally, Oppenheimer set a $16.00 price target on shares of SLM and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $14.57.

A number of hedge funds have recently modified their holdings of SLM. Stifel Financial Corp purchased a new position in SLM during the first quarter worth about $292,000. Legal & General Group Plc raised its stake in SLM by 1.2% during the first quarter. Legal & General Group Plc now owns 653,731 shares of the credit services provider’s stock worth $7,329,000 after purchasing an additional 7,738 shares during the period. Principal Financial Group Inc. raised its stake in SLM by 3.0% during the first quarter. Principal Financial Group Inc. now owns 1,891,716 shares of the credit services provider’s stock worth $21,206,000 after purchasing an additional 55,014 shares during the period. Suntrust Banks Inc. purchased a new position in SLM during the first quarter worth about $275,000. Finally, State of Alaska Department of Revenue raised its stake in SLM by 39.9% during the second quarter. State of Alaska Department of Revenue now owns 47,380 shares of the credit services provider’s stock worth $542,000 after purchasing an additional 13,520 shares during the period.

Shares of SLM stock opened at $10.16 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.86. SLM has a 12 month low of $9.65 and a 12 month high of $12.46. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 0.51 and a beta of 1.21.

SLM (NASDAQ:SLM) last issued its earnings results on Monday, October 22nd. The credit services provider reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). SLM had a return on equity of 18.84% and a net margin of 22.81%. The firm had revenue of $356.63 million for the quarter, compared to analysts’ expectations of $350.10 million. During the same period last year, the firm earned $0.17 earnings per share. On average, research analysts anticipate that SLM will post 1.02 EPS for the current fiscal year.

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About SLM

SLM Corporation, together with 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 and their families. Its loan portfolio also includes federal family education loan program, personal, and other loans.

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