Seritage Growth Properties (NYSE:SRG) Stock Crosses Below Fifty Day Moving Average of $7.17

Seritage Growth Properties (NYSE:SRG)’s share price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $7.17 and traded as low as $4.77. Seritage Growth Properties shares last traded at $4.82, with a volume of 393,511 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Seritage Growth Properties to a “sell” rating in a research report on Monday, May 13th.

Seritage Growth Properties Price Performance

The company has a fifty day simple moving average of $7.08 and a 200-day simple moving average of $8.58. The company has a market cap of $261.06 million, a P/E ratio of -2.25 and a beta of 2.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 7.92 and a quick ratio of 7.92.

Seritage Growth Properties (NYSE:SRG) last issued its earnings results on Friday, May 10th. The financial services provider reported ($0.36) earnings per share (EPS) for the quarter. Seritage Growth Properties had a negative return on equity of 1.34% and a negative net margin of 432.54%. The company had revenue of $5.77 million during the quarter.

Insiders Place Their Bets

In other news, major shareholder Edward S. Lampert sold 25,655 shares of Seritage Growth Properties stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $9.76, for a total value of $250,392.80. Following the transaction, the insider now directly owns 13,484,162 shares of the company’s stock, valued at $131,605,421.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Institutional Trading of Seritage Growth Properties

Several hedge funds and other institutional investors have recently modified their holdings of the business. Littlejohn & Co. LLC grew its position in 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 & Co INVESTMENT ADVISERS INC. boosted its stake in shares of Seritage Growth Properties by 10.0% during the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 752,840 shares of the financial services provider’s stock valued at $7,265,000 after buying an additional 68,309 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Seritage Growth Properties by 1.0% during the 4th 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. Troluce Capital Advisors LLC increased its stake in shares of Seritage Growth Properties by 46.7% in the third quarter. Troluce Capital Advisors LLC now owns 150,000 shares of the financial services provider’s stock worth $1,161,000 after acquiring an additional 47,739 shares during the last quarter. Finally, Gabelli Funds LLC raised its holdings in shares of Seritage Growth Properties by 6.1% during the first quarter. Gabelli Funds LLC now owns 799,644 shares of the financial services provider’s stock worth $7,717,000 after acquiring an additional 45,708 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.