Edward S. Lampert Sells 65,917 Shares of Seritage Growth Properties (NYSE:SRG) Stock
Seritage Growth Properties (NYSE:SRG – Get Rating) major shareholder Edward S. Lampert sold 65,917 shares of Seritage Growth Properties stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $11.82, for a total value of $779,138.94. Following the sale, the insider now owns 16,241,397 shares in the company, valued at approximately $191,973,312.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Seritage Growth Properties Stock Performance
Shares of SRG traded down $0.64 during midday trading on Tuesday, reaching $11.05. 699,769 shares of the stock were exchanged, compared to its average volume of 1,164,005. The business’s 50-day moving average price is $12.36 and its 200 day moving average price is $10.45. The company has a debt-to-equity ratio of 2.30, a current ratio of 5.92 and a quick ratio of 5.92. Seritage Growth Properties has a twelve month low of $4.90 and a twelve month high of $17.12. The company has a market capitalization of $482.13 million, a price-to-earnings ratio of -4.19 and a beta of 2.78.
Seritage Growth Properties (NYSE:SRG – Get Rating) last posted its earnings results on Tuesday, August 9th. The financial services provider reported ($1.76) EPS for the quarter. Seritage Growth Properties had a negative return on equity of 10.05% and a negative net margin of 93.58%. The firm had revenue of $29.70 million for the quarter.
Hedge Funds Weigh In On Seritage Growth Properties
Institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank acquired a new position in Seritage Growth Properties in the 1st quarter valued at about $57,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Seritage Growth Properties in the 2nd quarter valued at about $61,000. Point72 Hong Kong Ltd acquired a new position in Seritage Growth Properties in the 2nd quarter valued at about $68,000. BNP Paribas Arbitrage SA increased its position in Seritage Growth Properties by 40.4% in the 4th quarter. BNP Paribas Arbitrage SA now owns 13,424 shares of the financial services provider’s stock valued at $178,000 after acquiring an additional 3,860 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in Seritage Growth Properties by 162.8% in the 1st quarter. MetLife Investment Management LLC now owns 20,110 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 12,459 shares in the last quarter. Institutional investors and hedge funds own 67.69% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded Seritage Growth Properties to a “sell” rating in a research report on Monday, September 12th.
About Seritage Growth Properties
Seritage Growth Properties is a publicly-traded, self-administered and self-managed REIT with 166 wholly-owned properties and 29 unconsolidated properties totaling approximately 30.4 million square feet of space across 44 states and Puerto Rico. The Company was formed to unlock the underlying real estate value of a high-quality retail portfolio it acquired from Sears Holdings in July 2015.
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