Seritage Growth Properties (NYSE:SRG) Stock Price Crosses Above 50 Day Moving Average of $9.37

Seritage Growth Properties (NYSE:SRG) passed 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 firm has a fifty day moving average of $9.37 and a 200 day moving average of $9.11. The company has a market capitalization of $523.78 million, a P/E ratio of -3.26 and a beta of 2.62. The company has a current ratio of 6.76, a quick ratio of 6.76 and a debt-to-equity ratio of 0.64.

Seritage Growth Properties (NYSE:SRG) last released its quarterly earnings results 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 during the quarter. Seritage Growth Properties had a negative return on equity of 8.61% and a negative net margin of 745.48%.

Insider Activity

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 transaction of $438,278.40. Following the transaction, the insider now directly 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 can be accessed through this link. In related news, major shareholder Edward S. Lampert sold 136,251 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $9.68, for a total value of $1,318,909.68. Following the transaction, the insider now directly owns 13,582,612 shares of the company’s stock, valued at approximately $131,479,684.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Edward S. Lampert sold 45,654 shares of the business’s stock in a transaction that occurred on 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 directly owns 13,536,958 shares in the company, valued at $129,954,796.80. The disclosure for this sale can be found here. Insiders have sold a total of 214,007 shares of company stock valued at $2,069,537 in the last ninety days. Corporate insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC raised 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 worth $45,245,000 after acquiring an additional 47,740 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Seritage Growth Properties by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,543,350 shares of the financial services provider’s stock worth $27,426,000 after acquiring an additional 35,320 shares in the last quarter. Littlejohn & Co. LLC raised its holdings in shares of Seritage Growth Properties by 15.3% during the 3rd quarter. Littlejohn & Co. LLC now owns 913,811 shares of the financial services provider’s stock worth $7,073,000 after acquiring an additional 121,134 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of Seritage Growth Properties by 1.5% during the 3rd quarter. Gabelli Funds LLC now owns 818,255 shares of the financial services provider’s stock worth $6,333,000 after acquiring an additional 12,300 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in shares of Seritage Growth Properties by 7.6% during 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 acquiring an additional 48,478 shares in the last quarter. 78.93% of the stock is owned by hedge funds and other institutional investors.

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.