Is SLM Corp (SLM) A Good Stock To Buy?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that sold off their entire stakes in the stock during the third quarter. It’s worth mentioning that Paul Tudor Jones’ Tudor Investment Corp sold off the largest investment of the 700 funds followed by Insider Monkey, totaling close to $0.4 million in stock, and Michael Platt and William Reeves’ BlueCrest Capital Mgmt. was right behind this move, as the fund said goodbye to about $0.3 million worth of shares.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as SLM Corp (NASDAQ:SLM) but similarly valued. These stocks are Columbia Property Trust Inc (NYSE:CXP), Worthington Industries, Inc. (NYSE:WOR), Horizon Pharma Inc (NASDAQ:HZNP), and Kate Spade & Co (NYSE:KATE). This group of stocks’ market caps are closest to SLM’s market cap.

As you can see these stocks had an average of 23 hedge funds with bullish positions and the average amount invested in these stocks was $378 million. That figure was $171 million in SLM’s case. Horizon Pharma Inc (NASDAQ:HZNP) is the most popular stock in this table. On the other hand Columbia Property Trust Inc (NYSE:CXP) is the least popular one with only 11 bullish hedge fund positions. SLM Corp (NASDAQ:SLM) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard HZNP might be a better candidate to consider taking a long position in.

Disclosure: None