Seritage Growth Properties (NYSE:SRG) Shares Pass Below 50-Day Moving Average of $9.40

Seritage Growth Properties (NYSE:SRG) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty 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 changing hands.

Seritage Growth Properties Stock Down 1.3 %

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 business has a 50 day simple moving average of $9.40 and a 200 day simple moving average of $9.05. The company has a market capitalization of $524.34 million, a price-to-earnings ratio of -3.26 and a beta of 2.64.

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

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 transaction, the insider now owns 13,484,162 shares of the company’s stock, valued at $131,605,421.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Seritage Growth Properties news, major shareholder Edward S. Lampert sold 45,654 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $9.60, for a total transaction of $438,278.40. Following the transaction, the insider now owns 13,536,958 shares of the company’s stock, valued at $129,954,796.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Edward S. Lampert sold 25,655 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was 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 in the company, valued at approximately $131,605,421.12. 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. 0.36% of the stock is owned by insiders.

Hedge Funds Weigh In On Seritage Growth Properties

Hedge funds have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC grew its holdings 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 worth $45,245,000 after buying an additional 47,740 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Seritage Growth Properties by 1.0% during the third quarter. Vanguard Group Inc. now owns 3,543,350 shares of the financial services provider’s stock worth $27,426,000 after buying an additional 35,320 shares during the last quarter. Littlejohn & Co. LLC grew 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 worth $7,073,000 after buying an additional 121,134 shares during the last quarter. Gabelli Funds LLC grew its holdings 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 worth $6,333,000 after buying an additional 12,300 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in shares of Seritage Growth Properties by 7.6% during the fourth 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 during the last quarter. Hedge funds and other institutional investors own 78.93% of the company’s stock.

About Seritage Growth Properties

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.