GABELLI & Co INVESTMENT ADVISERS INC. Buys 232,382 Shares of Seritage Growth Properties $SRG

Key Points

• GABELLI & Co Investment Advisers Inc. increased its stake in Seritage Growth Properties by 51.1%, acquiring an additional 232,382 shares, bringing its total to 686,994 shares worth approximately $2.2 million.
• Seritage Growth Properties reported a negative earnings per share of ($0.53) with a negative net margin of 497.67% for its most recent quarter.
• Analyst ratings for Seritage Growth Properties have improved, with Wall Street Zen recently upgrading the stock from a "sell" to a "hold" rating.

GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in Seritage Growth Properties (NYSE:SRG - Free Report) by 51.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 686,994 shares of the financial services provider's stock after purchasing an additional 232,382 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC. owned approximately 1.22% of Seritage Growth Properties worth $2,219,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in Seritage Growth Properties in the 4th quarter valued at $49,000. XTX Topco Ltd bought a new stake in shares of Seritage Growth Properties during the fourth quarter worth $60,000. Cubist Systematic Strategies LLC bought a new stake in shares of Seritage Growth Properties during the fourth quarter worth $145,000. Sandia Investment Management LP bought a new stake in shares of Seritage Growth Properties during the fourth quarter worth $223,000. Finally, Proficio Capital Partners LLC grew its stake in shares of Seritage Growth Properties by 42.1% during the first quarter. Proficio Capital Partners LLC now owns 76,987 shares of the financial services provider's stock worth $229,000 after purchasing an additional 22,800 shares during the period. Institutional investors own 78.93% of the company's stock.

Seritage Growth Properties Stock Down 0.3%

NYSE:SRG opened at $3.59 on Tuesday. Seritage Growth Properties has a 1 year low of $2.43 and a 1 year high of $4.84. The company has a current ratio of 11.03, a quick ratio of 11.03 and a debt-to-equity ratio of 0.57. The stock has a market cap of $202.22 million, a price-to-earnings ratio of -2.26 and a beta of 2.48. The stock has a 50-day moving average price of $3.13 and a two-hundred day moving average price of $3.12.

Seritage Growth Properties (NYSE:SRG - Get Free Report) last posted its earnings results on Thursday, August 14th. The financial services provider reported ($0.53) earnings per share (EPS) for the quarter. Seritage Growth Properties had a negative net margin of 497.67% and a negative return on equity of 21.55%. The business had revenue of $4.65 million during the quarter.

Analyst Ratings Changes

Separately, Wall Street Zen raised Seritage Growth Properties from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th.

Seritage Growth Properties Profile

Seritage Growth Properties operates as a real estate investment trust. The firm engages in the acquisition, ownership, development, redevelopment, management, and leasing of retail properties throughout the United States. Its property portfolio includes mall, shopping centers and freestanding locations.

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