Seritage Growth Properties (NYSE:SRG) Stock Price Crosses Below Fifty Day Moving Average of $6.51

Seritage Growth Properties (NYSE:SRG) shares passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $6.51 and traded as low as $4.53. Seritage Growth Properties shares last traded at $4.67, with a volume of 537,048 shares traded.

Analyst Upgrades and Downgrades

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

Seritage Growth Properties Stock Up 2.9 %

The company has a market capitalization of $262.73 million, a P/E ratio of -2.23 and a beta of 2.56. The company has a current ratio of 7.92, a quick ratio of 7.92 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average price of $6.51 and a 200 day moving average price of $8.39.

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

Insiders Place Their Bets

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

Institutional Trading of Seritage Growth Properties

Several large investors have recently made changes to their positions in SRG. Littlejohn & Co. LLC grew its stake in shares of Seritage Growth Properties by 15.3% in the 3rd quarter. Littlejohn & Co. LLC now owns 913,811 shares of the financial services provider’s stock valued at $7,073,000 after buying an additional 121,134 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in Seritage Growth Properties by 10.0% in 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 acquiring an additional 68,309 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in Seritage Growth Properties by 1.0% in 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 lifted its position in Seritage Growth Properties by 46.7% in the 3rd quarter. Troluce Capital Advisors LLC now owns 150,000 shares of the financial services provider’s stock valued at $1,161,000 after acquiring an additional 47,739 shares in the last quarter. Finally, Gabelli Funds LLC lifted its position in Seritage Growth Properties by 6.1% in the 1st quarter. Gabelli Funds LLC now owns 799,644 shares of the financial services provider’s stock valued at $7,717,000 after acquiring an additional 45,708 shares in the last quarter. 78.93% of the stock is currently owned by institutional investors and hedge funds.

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.