Seritage Growth Properties (NYSE:SRG) Stock Price Passes Below 50-Day Moving Average of $9.40

Shares of Seritage Growth Properties (NYSE:SRG) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $9.40 and traded as low as $9.30. Seritage Growth Properties shares last traded at $9.44, with a volume of 214,738 shares trading hands.

Seritage Growth Properties Price Performance

The company has a 50 day moving average of $9.40 and a two-hundred day moving average of $9.03. The firm has a market cap of $531.09 million, a P/E ratio of -3.30 and a beta of 2.64. The company has a quick ratio of 6.76, a current ratio of 6.76 and a debt-to-equity ratio of 0.64.

Seritage Growth Properties (NYSE:SRG) last announced its earnings results on Monday, April 1st. The financial services provider reported $0.04 earnings per share for the quarter. Seritage Growth Properties had a negative return on equity of 8.61% and a negative net margin of 745.48%. The business had revenue of $9.17 million during the quarter.

Insider Activity at Seritage Growth Properties

In related news, major shareholder Edward S. Lampert sold 25,655 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $9.76, for a total value of $250,392.80. Following the completion of the transaction, the insider now owns 13,484,162 shares in the company, valued at approximately $131,605,421.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Edward S. Lampert sold 25,655 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $9.76, for a total value of $250,392.80. Following the completion of the transaction, the insider now owns 13,484,162 shares in the company, valued at approximately $131,605,421.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Edward S. Lampert sold 136,251 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $9.68, for a total value of $1,318,909.68. Following the completion of the transaction, the insider now owns 13,582,612 shares of the company’s stock, valued at approximately $131,479,684.16. The disclosure for this sale can be found here. Insiders sold 214,007 shares of company stock worth $2,069,537 in the last quarter. 0.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On Seritage Growth Properties

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC purchased a new stake in Seritage Growth Properties in the 2nd quarter worth about $63,000. Bank of New York Mellon Corp lifted its stake in Seritage Growth Properties by 20.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 24,434 shares of the financial services provider’s stock worth $189,000 after acquiring an additional 4,188 shares in the last quarter. Towerview LLC lifted its stake in Seritage Growth Properties by 1.5% in the 3rd quarter. Towerview LLC now owns 680,000 shares of the financial services provider’s stock worth $5,263,000 after acquiring an additional 10,000 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in Seritage Growth Properties by 2.5% in the 3rd quarter. Gamco Investors INC. ET AL now owns 245,023 shares of the financial services provider’s stock worth $1,896,000 after acquiring an additional 6,050 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in Seritage Growth Properties by 19.2% in the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 636,053 shares of the financial services provider’s stock worth $4,923,000 after acquiring an additional 102,553 shares in the last quarter. Institutional investors and hedge funds own 78.93% of the company’s stock.

Seritage Growth Properties Company Profile

Seritage is principally engaged in the ownership, development, redevelopment, management and leasing of retail and mixed-use properties throughout the United States. As of September 30, 2023, the Company's portfolio consisted of interests in 42 properties comprised of approximately 5.6 million square feet of gross leasable area ("GLA") or build-to-suit leased area, approximately 126 acres held for or under development and approximately 2.9 million square feet or approximately 259 acres to be disposed of.