Seritage Growth Properties Target of Unusually Large Options Trading (NYSE:SRG)

Seritage Growth Properties (NYSE:SRG) was the target of unusually large options trading activity on Monday. Stock investors purchased 3,088 put options on the company. This is an increase of 245% compared to the average daily volume of 894 put options.

Seritage Growth Properties Trading Down 4.2 %

Shares of Seritage Growth Properties stock opened at $3.80 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 7.92 and a current ratio of 7.92. The stock has a market capitalization of $213.51 million, a P/E ratio of -1.82 and a beta of 2.58. Seritage Growth Properties has a 52-week low of $3.70 and a 52-week high of $9.87. The stock’s 50-day simple moving average is $4.87 and its 200 day simple moving average is $7.37.

Institutional Trading of Seritage Growth Properties

A number of institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. grew its stake in Seritage Growth Properties by 183.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 117,785 shares of the financial services provider’s stock valued at $550,000 after buying an additional 76,213 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. raised its stake in shares of Seritage Growth Properties by 10.0% during 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 purchasing an additional 68,309 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in 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 purchasing an additional 47,740 shares in the last quarter. Gabelli Funds LLC boosted its stake 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 worth $7,717,000 after purchasing an additional 45,708 shares during the period. Finally, Corsair Capital Management L.P. purchased a new position in Seritage Growth Properties during the 4th quarter valued at about $280,000. 78.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.