Short Interest in Shoprite Holdings Ltd (OTCMKTS:SRGHY) Drops By 45.6%

Shoprite Holdings Ltd (OTCMKTS:SRGHY) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totaling 4,900 shares, a decrease of 45.6% from the August 31st total of 9,000 shares. Based on an average daily volume of 12,800 shares, the short-interest ratio is presently 0.4 days. Based on an average daily volume of 12,800 shares, the short-interest ratio is presently 0.4 days.

Shoprite Price Performance

OTCMKTS:SRGHY opened at $16.27 on Friday. The firm has a 50-day moving average of $15.68 and a two-hundred day moving average of $15.43. Shoprite has a 1-year low of $12.69 and a 1-year high of $18.18.

Shoprite Announces Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, October 9th. Shareholders of record on Monday, September 29th will be given a $0.2052 dividend. This represents a yield of 184.0%. The ex-dividend date of this dividend is Friday, September 26th. Shoprite’s dividend payout ratio is presently 60.55%.

Analyst Upgrades and Downgrades

Separately, Investec upgraded Shoprite to a “buy” rating in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Shoprite presently has a consensus rating of “Buy”.

Shoprite Company Profile

Shoprite Holdings Ltd, an investment holding company, primarily engages in the food retailing business in South Africa and internationally. The company operates through four segments: Supermarkets RSA, Supermarkets Non-RSA, Furniture, and Other Operating segments. It also offers clothing, general merchandise, cosmetics, and liquor products; furniture and home entertainment products; and electrical and household appliances.