Sanlam Limited (OTCMKTS:SLLDY) Short Interest Up 265.2% in August

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

Sanlam Stock Performance

Shares of SLLDY traded down C$0.18 during mid-day trading on Friday, reaching C$10.04. 39,351 shares of the company’s stock traded hands, compared to its average volume of 52,344. The business’s 50-day moving average price is C$10.72 and its 200-day moving average price is C$10.89. Sanlam has a 12 month low of C$9.47 and a 12 month high of C$13.68.

Analysts Set New Price Targets

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