Sanlam Limited (OTCMKTS:SLLDY) Sees Significant Growth in Short Interest

Sanlam Limited (OTCMKTS:SLLDY) was the target of a significant growth in short interest in 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 trading volume of 61,547 shares, the short-interest ratio is currently 1.1 days.

Analysts Set New Price Targets

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

Sanlam Price Performance

Sanlam stock opened at C$10.04 on Friday. The business’s fifty day simple moving average is C$10.72 and its two-hundred day simple moving average is C$10.89. Sanlam has a 12 month low of C$9.47 and a 12 month high of C$13.68.

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.