JonesTrading Has Lowered Expectations for Seaport Entertainment Gr (NYSE:SEG) Stock Price

Key Points

• JonesTrading lowered its price target on Seaport Entertainment Group from $36 to $30 but maintained a Buy rating; the new target implies 39.57% upside from the current share price.
• Analyst views are mixed: one rates SEG Buy, one Hold, and one Sell, resulting in a consensus Hold rating and a $30 consensus price target.
• SEG reported a quarterly loss of $0.23 per share, missing analyst expectations of a $0.05 loss; shares opened at $21.50 on Friday.

Seaport Entertainment Gr (NYSE:SEG - Get Free Report) had its price objective reduced by research analysts at JonesTrading from $36.00 to $30.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. JonesTrading's price objective suggests a potential upside of 39.57% from the company's current price.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Seaport Entertainment Gr in a research report on Friday, October 30th. Zacks Research upgraded Seaport Entertainment Gr to a "hold" rating in a report on Friday, October 2nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Seaport Entertainment Gr currently has a consensus rating of "Hold" and a consensus price target of $30.00.

Seaport Entertainment Gr Stock Down 8.6%

Shares of SEG opened at $21.50 on Friday. The company has a 50-day moving average of $23.70 and a two-hundred day moving average of $23.62. The company has a current ratio of 4.06, a quick ratio of 4.06 and a debt-to-equity ratio of 0.09. Seaport Entertainment Gr has a one year low of $17.74 and a one year high of $29.61.

Seaport Entertainment Gr (NYSE:SEG - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.18). The firm had revenue of $32.70 million for the quarter. Seaport Entertainment Gr had a negative net margin of 90.74% and a negative return on equity of 8.76%. As a group, equities analysts anticipate that Seaport Entertainment Gr will post -1.80 earnings per share for the current year.

Institutional Investors Weigh In On Seaport Entertainment Gr

Several large investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in Seaport Entertainment Gr by 123.6% during the first quarter. Renaissance Technologies LLC now owns 82,300 shares of the company's stock valued at $1,768,000 after acquiring an additional 45,500 shares in the last quarter. Kahn Brothers Group Inc. bought a new stake in Seaport Entertainment Gr in the second quarter worth approximately $24,392,000. O Keefe Stevens Advisory Inc. lifted its holdings in shares of Seaport Entertainment Gr by 9.7% during the third quarter. O Keefe Stevens Advisory Inc. now owns 53,869 shares of the company's stock valued at $1,233,000 after acquiring an additional 4,784 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Seaport Entertainment Gr by 5.4% in the 1st quarter. Quantinno Capital Management LP now owns 24,141 shares of the company's stock valued at $519,000 after purchasing an additional 1,235 shares in the last quarter. Finally, Marquette Asset Management LLC acquired a new stake in shares of Seaport Entertainment Gr in the 2nd quarter valued at $392,000.

About Seaport Entertainment Gr

Seaport Entertainment Group Inc NYSE: SEG is an entertainment and hospitality company focused on owning, operating and developing destinations that combine dining, retail, sports, entertainment and real estate. Its activities are centered on creating mixed-use experiences that attract visitors, residents and event attendees.

The company's portfolio includes the Seaport district in Lower Manhattan, a large-scale waterfront destination featuring restaurants, shops, entertainment venues, public spaces and cultural attractions.

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