OppenheimerFunds Inc. Sells 2,023,735 Shares of Sallie Mae (SLM)
OppenheimerFunds Inc. lowered its position in Sallie Mae (NASDAQ:SLM) by 98.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,825 shares of the credit services provider’s stock after selling 2,023,735 shares during the period. OppenheimerFunds Inc.’s holdings in Sallie Mae were worth $405,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC purchased a new stake in Sallie Mae in the third quarter valued at approximately $115,000. Cerebellum GP LLC purchased a new stake in Sallie Mae in the fourth quarter valued at approximately $127,000. Virtu Financial LLC purchased a new stake in Sallie Mae in the fourth quarter valued at approximately $135,000. Centaurus Financial Inc. purchased a new stake in Sallie Mae in the fourth quarter valued at approximately $174,000. Finally, LMR Partners LLP boosted its position in Sallie Mae by 36.6% in the 4th quarter. LMR Partners LLP now owns 23,202 shares of the credit services provider’s stock worth $262,000 after purchasing an additional 6,222 shares in the last quarter. Hedge funds and other institutional investors own 99.35% of the company’s stock.
In other news, EVP Laurent Charles Lutz sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $11.80, for a total transaction of $118,000.00. Following the completion of the transaction, the executive vice president now directly owns 410,806 shares of the company’s stock, valued at approximately $4,847,510.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jonathan Boyles sold 64,585 shares of the stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $10.95, for a total value of $707,205.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 274,939 shares of company stock valued at $3,112,679. Corporate insiders own 0.59% of the company’s stock.
Sallie Mae (NASDAQ:SLM) last announced its earnings results on Wednesday, January 17th. The credit services provider reported $0.19 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. The business had revenue of $309.19 million during the quarter, compared to the consensus estimate of $299.64 million. Sallie Mae had a return on equity of 16.65% and a net margin of 20.23%. During the same period in the prior year, the company posted $0.15 EPS. research analysts anticipate that Sallie Mae will post 0.99 earnings per share for the current year.
SLM has been the topic of several recent research reports. Zacks Investment Research upgraded Sallie Mae from a “sell” rating to a “hold” rating in a research report on Wednesday. B. Riley restated a “buy” rating and issued a $13.00 price objective (down previously from $14.00) on shares of Sallie Mae in a research report on Thursday, January 18th. Bank of America lowered their price objective on Sallie Mae from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. BidaskClub upgraded Sallie Mae from a “sell” rating to a “hold” rating in a research report on Wednesday, March 14th. Finally, Jefferies Group restated a “buy” rating and issued a $16.00 price objective on shares of Sallie Mae in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. Sallie Mae currently has a consensus rating of “Buy” and a consensus price target of $14.18.
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About Sallie Mae
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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