Sanlam Limited (OTCMKTS:SLLDY) Short Interest Down 41.7% in July

Sanlam Limited (OTCMKTS:SLLDY) was the recipient of a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 56,893 shares, a decline of 41.7% from the June 30th total of 97,534 shares. Based on an average daily volume of 119,289 shares, the days-to-cover ratio is currently 0.5 days.

Wall Street Analyst Weigh In

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

Sanlam Stock Down 0.1%

Shares of SLLDY traded down C$0.01 during mid-day trading on Friday, hitting C$10.62. The company’s stock had a trading volume of 3,107 shares, compared to its average volume of 52,327. The stock’s 50-day moving average is C$10.70 and its two-hundred day moving average is C$11.33. Sanlam has a one year low of C$9.38 and a one year high of C$13.68.

Sanlam Company Profile

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.