Scully Royalty (NYSE:SRL) Shares Cross Below 50-Day Moving Average – Here’s What Happened

Scully Royalty Ltd. (NYSE:SRL) shares crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $5.82 and traded as low as $4.94. Scully Royalty shares last traded at $5.0250, with a volume of 6,471 shares.

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 research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Scully Royalty Price Performance

The stock’s 50-day simple moving average is $5.82 and its 200 day simple moving average is $7.22.

Institutional Trading of Scully Royalty

An institutional investor recently raised its stake in Scully Royalty stock. Renaissance Technologies LLC boosted its holdings in Scully Royalty Ltd. (NYSE:SRL) by 41.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,114 shares of the financial services provider’s stock after purchasing an additional 19,800 shares during the quarter. Renaissance Technologies LLC owned about 0.46% of Scully Royalty worth $533,000 as of its most recent SEC filing. 41.96% of the stock is owned by institutional investors and hedge funds.

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.