Short Interest in Sanlam Limited (OTCMKTS:SLLDY) Increases By 84.5%

Sanlam Limited (OTCMKTS:SLLDY) was the target of a significant increase in short interest in August. As of August 14th, there was short interest totaling 19,161 shares, an increase of 84.5% from the July 30th total of 10,388 shares. Based on an average daily trading volume, of 66,035 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded 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, Sanlam has a consensus rating of “Sell”.

Sanlam Stock Performance

OTCMKTS SLLDY traded down C$0.05 during trading hours on Monday, reaching C$10.71. The company’s stock had a trading volume of 99,892 shares, compared to its average volume of 51,117. Sanlam has a 52 week low of C$9.38 and a 52 week high of C$13.68. The business has a 50-day simple moving average of C$10.77 and a 200 day simple moving average of C$11.05.

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.