Short Interest in Scully Royalty Ltd. (NYSE:SRL) Expands By 683.3%

Key Points

• Short interest surged 683.3% to 11,412 shares as of March 31, though that represents only about 0.1% of shares outstanding and a short days-to-cover of roughly 0.4 days (based on average daily volume).
• SRL traded at $7.49 on the latest session (up 1.1%), with a 50-day moving average of $8.52, a 200-day moving average of $7.29, and a 1‑year range of $5.13 to $10.39.
• The consensus analyst view is negative (average rating: Sell), despite a recent upgrade to "Hold" from Wall Street Zen, and institutional investors hold about 41.96% of the shares, with KERR Financial Planning recently acquiring ~14,964 shares (~0.10% stake).

Scully Royalty Ltd. (NYSE:SRL - Get Free Report) was the target of a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 11,412 shares, a growth of 683.3% from the March 15th total of 1,457 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 26,249 shares, the days-to-cover ratio is currently 0.4 days.

Scully Royalty Trading Up 1.1%

SRL stock traded up $0.08 during trading on Friday, hitting $7.49. The stock had a trading volume of 781 shares, compared to its average volume of 19,853. The company's 50 day moving average price is $8.52 and its two-hundred day moving average price is $7.29. Scully Royalty has a 1-year low of $5.13 and a 1-year high of $10.39.

Analyst Ratings Changes

Several research firms have recently issued reports on SRL. Wall Street Zen raised Scully Royalty to a "hold" rating in a research note on Saturday, March 7th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Scully Royalty in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of "Sell".

Institutional Trading of Scully Royalty

A hedge fund recently bought a new stake in Scully Royalty stock. KERR FINANCIAL PLANNING Corp bought a new position in shares of Scully Royalty Ltd. (NYSE:SRL - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 14,964 shares of the financial services provider's stock, valued at approximately $86,000. KERR FINANCIAL PLANNING Corp owned 0.10% of Scully Royalty as of its most recent filing with the SEC. Institutional investors and hedge funds 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.

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