Seritage Growth Properties $SRG Shares Acquired by Newtyn Management LLC

Key Points

• Newtyn Management significantly increased its Seritage Growth Properties stake by purchasing 2.23 million additional shares in the second quarter, bringing its total holdings to 2.27 million shares, or 4.02% of SRG.
• Other institutional investors also raised or initiated positions, and hedge funds and institutional investors collectively own 78.93% of the company’s stock.
• Seritage shares opened at $2.11, near the 12-month low, while the company reported a quarterly loss of $0.13 per share, $1.87 million in revenue, and sharply negative profitability metrics. Analysts maintain an overall “Sell” rating.

Newtyn Management LLC boosted its holdings in Seritage Growth Properties (NYSE:SRG - Free Report) by 5,411.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,266,230 shares of the financial services provider's stock after purchasing an additional 2,225,110 shares during the period. Seritage Growth Properties comprises 0.8% of Newtyn Management LLC's portfolio, making the stock its 26th largest position. Newtyn Management LLC owned 4.02% of Seritage Growth Properties worth $5,960,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SRG. Creek Drive Management Group LLC acquired a new position in shares of Seritage Growth Properties in the 4th quarter valued at approximately $1,421,000. Clutterbuck Capital Management LLC purchased a new position in shares of Seritage Growth Properties during the 4th quarter valued at approximately $1,343,000. Ancora Advisors LLC acquired a new stake in shares of Seritage Growth Properties during the second quarter worth approximately $691,000. Marshall Wace LLP grew its position in shares of Seritage Growth Properties by 135.7% during the second quarter. Marshall Wace LLP now owns 435,984 shares of the financial services provider's stock worth $1,343,000 after buying an additional 250,989 shares in the last quarter. Finally, Towerview LLC increased its stake in shares of Seritage Growth Properties by 28.7% in the first quarter. Towerview LLC now owns 1,030,000 shares of the financial services provider's stock worth $2,894,000 after buying an additional 230,000 shares during the last quarter. Institutional investors and hedge funds own 78.93% of the company's stock.

Seritage Growth Properties Price Performance

Shares of NYSE SRG opened at $2.11 on Monday. Seritage Growth Properties has a twelve month low of $2.05 and a twelve month high of $4.56. The company has a current ratio of 18.98, a quick ratio of 18.98 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $118.86 million, a price-to-earnings ratio of -2.03 and a beta of 2.21. The business has a 50 day simple moving average of $2.44 and a 200-day simple moving average of $2.63.

Seritage Growth Properties (NYSE:SRG - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The financial services provider reported ($0.13) earnings per share (EPS) for the quarter. The firm had revenue of $1.87 million for the quarter. Seritage Growth Properties had a negative return on equity of 17.06% and a negative net margin of 419.02%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SRG shares. Weiss Ratings upgraded shares of Seritage Growth Properties from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, August 19th. Wall Street Zen raised shares of Seritage Growth Properties from a "strong sell" rating to a "hold" rating in a research report on Sunday, August 23rd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of "Sell".

About Seritage Growth Properties

Seritage Growth Properties is a publicly traded real estate investment trust (REIT) formed in 2015 as a spin-off from Sears Holdings. Headquartered in New York City, the company owns and operates a diversified portfolio of retail and mixed-use properties that were previously under the Sears and Kmart banners. Since its launch, Seritage has pursued a strategy of unlocking value through active asset management, redevelopment and strategic leasing.

The company's core business activities include the acquisition and redevelopment of retail properties, negotiation of long-term lease agreements with national and regional tenants, and selective disposition of non-core assets.

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