Scully Royalty (NYSE:SRL) Stock Crosses Above 50 Day Moving Average – Time to Sell?

Scully Royalty Ltd. (NYSE:SRL)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $5.76 and traded as high as $5.83. Scully Royalty shares last traded at $5.74, with a volume of 8,863 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Scully Royalty from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Scully Royalty Trading Up 1.1%

The business’s fifty day simple moving average is $5.76 and its 200 day simple moving average is $7.13.

Institutional Trading of Scully Royalty

A hedge fund recently raised its position in Scully Royalty stock. Renaissance Technologies LLC lifted its stake in Scully Royalty Ltd. (NYSE:SRL) by 41.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,114 shares of the financial services provider’s stock after purchasing an additional 19,800 shares during the period. Renaissance Technologies LLC owned 0.46% of Scully Royalty worth $533,000 at the end of the most recent quarter. Institutional investors own 41.96% of the company’s stock.

About Scully Royalty

Scully Royalty Ltd. is a mineral royalty company that acquires, owns and manages a diversified portfolio of oil and gas royalty and overriding royalty interests in key onshore producing regions of the United States. As a royalty owner, the company receives a percentage of production revenue from its assets without assuming the operational and capital expenditure burdens associated with exploration and development.

The company’s portfolio spans multiple established hydrocarbon basins, including conventional and unconventional plays.