Short Interest in Sanlam Limited (OTCMKTS:SLLDY) Decreases By 41.7%

Sanlam Limited (OTCMKTS:SLLDY) was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 56,893 shares, a decrease 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 presently 0.5 days.

Sanlam Price Performance

Sanlam stock traded up C$0.32 during mid-day trading on Thursday, reaching C$10.63. The company had a trading volume of 34,898 shares, compared to its average volume of 52,515. Sanlam has a 52 week low of C$9.38 and a 52 week high of C$13.68. The company has a 50 day moving average of C$10.71 and a 200-day moving average of C$11.34.

Wall Street Analyst Weigh In

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, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

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.