Seritage Growth Properties (NYSE:SRG) Shares Cross Above 50 Day Moving Average of $9.37

Shares of Seritage Growth Properties (NYSE:SRG) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $9.37 and traded as high as $9.37. Seritage Growth Properties shares last traded at $9.31, with a volume of 350,752 shares traded.

Seritage Growth Properties Price Performance

The company has a debt-to-equity ratio of 0.64, a current ratio of 6.76 and a quick ratio of 6.76. The firm has a 50-day moving average price of $9.37 and a 200-day moving average price of $9.10.

Seritage Growth Properties (NYSE:SRG) last posted its quarterly earnings data on Monday, April 1st. The financial services provider reported $0.04 earnings per share (EPS) 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 Buying and Selling

In other news, major shareholder Edward S. Lampert sold 136,251 shares of Seritage Growth Properties stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $9.68, for a total transaction of $1,318,909.68. Following the completion of the transaction, the insider now directly owns 13,582,612 shares in the company, valued at $131,479,684.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Edward S. Lampert sold 45,654 shares of Seritage Growth Properties stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $9.60, for a total value of $438,278.40. Following the completion of the transaction, the insider now owns 13,536,958 shares of the company’s stock, valued at approximately $129,954,796.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Edward S. Lampert sold 136,251 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $9.68, for a total transaction of $1,318,909.68. Following the sale, the insider now directly owns 13,582,612 shares in the company, valued at $131,479,684.16. The disclosure for this sale can be found here. Insiders have sold 214,007 shares of company stock valued at $2,069,537 over the last quarter. Corporate insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC increased its position in shares of Seritage Growth Properties by 1.0% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 4,839,080 shares of the financial services provider’s stock valued at $45,245,000 after acquiring an additional 47,740 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Seritage Growth Properties by 1.0% in the third quarter. Vanguard Group Inc. now owns 3,543,350 shares of the financial services provider’s stock worth $27,426,000 after purchasing an additional 35,320 shares during the last quarter. Littlejohn & Co. LLC lifted its holdings in shares of Seritage Growth Properties by 15.3% during the third quarter. Littlejohn & Co. LLC now owns 913,811 shares of the financial services provider’s stock valued at $7,073,000 after purchasing an additional 121,134 shares in the last quarter. Gabelli Funds LLC boosted its position in shares of Seritage Growth Properties by 1.5% during the third quarter. Gabelli Funds LLC now owns 818,255 shares of the financial services provider’s stock valued at $6,333,000 after buying an additional 12,300 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in Seritage Growth Properties by 7.6% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 684,531 shares of the financial services provider’s stock worth $6,400,000 after buying an additional 48,478 shares in the last quarter. Institutional investors 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.