Sanlam Limited (OTCMKTS:SLLDY) Sees Significant Growth in Short Interest

Sanlam Limited (OTCMKTS:SLLDY) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 69,981 shares, an increase of 265.2% from the August 15th total of 19,161 shares. Based on an average daily volume of 61,547 shares, the short-interest ratio is presently 1.1 days.

Analysts Set New Price Targets

Separately, Zacks Research cut shares of Sanlam from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Sanlam Stock Performance

SLLDY opened at C$10.04 on Friday. The business has a 50 day moving average of C$10.72 and a 200-day moving average of C$10.89. Sanlam has a 52 week low of C$9.47 and a 52 week high of C$13.68.

About Sanlam

Sanlam Limited (OTCMKTS:SLLDY) is a South African financial services group offering a broad array of insurance, investment and wealth management solutions. Headquartered in Bellville, Cape Town, the company provides life and health insurance, general insurance products, retirement planning and savings vehicles to individual and corporate clients. Through its network of advisors and digital platforms, Sanlam seeks to deliver tailored financial planning, estate planning, risk cover and wealth preservation services across multiple market segments.

Founded in 1918 as the South African Life Assurance and Investment Society, Sanlam has grown into one of the continent’s largest insurers.