Edward S. Lampert Sells 65,917 Shares of Seritage Growth Properties (NYSE:SRG) Stock

Seritage Growth Properties (NYSE:SRGGet Rating) major shareholder Edward S. Lampert sold 65,917 shares of Seritage Growth Properties stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $11.82, for a total value of $779,138.94. Following the completion of the transaction, the insider now directly owns 16,241,397 shares in the company, valued at $191,973,312.54. The transaction was disclosed in a legal filing with the SEC, which is available 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

NYSE SRG opened at $10.05 on Thursday. The business’s 50-day simple moving average is $12.35 and its 200-day simple moving average is $10.45. The firm has a market capitalization of $438.50 million, a P/E ratio of -3.81 and a beta of 2.78. 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 1-year low of $4.90 and a 1-year high of $17.12.

Seritage Growth Properties (NYSE:SRGGet Rating) last released its quarterly earnings results on Tuesday, August 9th. The financial services provider reported ($1.76) EPS for the quarter. The company had revenue of $29.70 million for the quarter. Seritage Growth Properties had a negative return on equity of 10.05% and a negative net margin of 93.58%.

Hedge Funds Weigh In On Seritage Growth Properties

Several hedge funds and other institutional investors have recently bought and sold shares of SRG. Amalgamated Bank acquired a new position in Seritage Growth Properties during the 1st quarter worth approximately $57,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Seritage Growth Properties during the 2nd quarter worth approximately $61,000. Point72 Hong Kong Ltd acquired a new position in shares of Seritage Growth Properties in the 2nd quarter valued at approximately $68,000. American International Group Inc. raised its position in shares of Seritage Growth Properties by 10.9% in the 2nd quarter. American International Group Inc. now owns 20,568 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 2,022 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Seritage Growth Properties by 81.2% in the 2nd quarter. SG Americas Securities LLC now owns 28,834 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 12,921 shares in the last quarter. 67.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com raised Seritage Growth Properties to a “sell” rating in a research note on Monday, September 12th.

Seritage Growth Properties Company Profile

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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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