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Selling Buzz: SLM Corp. [SLM] Director Strong Robert S. sells 4,500 shares of the company

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. SLM Corp. shares valued at $94,019 were sold by Strong Robert S. on Jul 01 ’24. At $20.89 per share, Strong Robert S. sold 4,500 shares. The insider’s holdings dropped to 105,593 shares worth approximately $2.2 million following the completion of this transaction.

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Also, Strong Robert S. sold 4,500 shares, netting a total of over 96,480 in proceeds. Following the sale of shares at $21.44 each, the insider now holds 102,983 shares.

Before that, Blackley Richard Scott had added 11,702 shares to its account. In a trade valued at $249,378, the Director bought SLM Corp. shares for $21.31 each. Upon closing the transaction, the insider’s holdings increased to 11,702 shares, worth approximately $0.49 million.

As published in a research note from Citigroup on January 16, 2024, SLM Corp. [SLM] has been rated up from a Neutral to a Buy and the price target has been revised to $23 from $14. Analysts at Deutsche Bank started covering the stock with ‘”a Buy”‘ outlook in a report released in early January. As of January 04, 2024, JP Morgan has decreased its “an Overweight” rating to a “Neutral” for SLM. Earlier on December 08, 2023, Wells Fargo upgraded its rating. Their new recommendation was “an Overweight” for SLM stock which previously was a “an Equal weight”.

Analyzing SLM Stock Performance

During the last five days, there has been a surge of approximately 1.61%. Over the course of the year, SLM Corp. shares have jumped approximately 9.15%. Shares of the company reached a 52-week high of $22.74 on 05/07/24 and a 52-week low of $18.04 on 01/09/24. A 50-day SMA is recorded $21.06, while a 200-day SMA reached $18.47. Nevertheless, trading volume fell to 1.19 million shares from 1.31 million shares the previous day.

Support And Resistance Levels for SLM Corp. (SLM)

According to the 24-hour chart, there is a support level at 20.76, which, if violated, would cause prices to drop to 20.65. In the upper region, resistance lies at 21.03. The next price resistance is at 21.18. RSI (Relative Strength Index) is 51.64 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.18, which suggests the price will decrease in the coming days. Percent R is at 33.09%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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