Seritage Growth Properties (NYSE:SRG) Stock Price Crosses Below 50 Day Moving Average - Here's Why

Key Points

• Seritage Growth Properties' share price fell below its 50-day moving average of $3.05, trading as low as $2.86 before closing at $2.89.
• Analysts from Wall Street Zen downgraded Seritage shares from a "hold" to a "sell" rating, signaling a bearish outlook for the stock.
• The company has reported a negative earnings per share of ($0.42) and substantial negative net margins, reflecting ongoing financial struggles.

Seritage Growth Properties (NYSE:SRG - Get Free Report)'s share price passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $3.05 and traded as low as $2.86. Seritage Growth Properties shares last traded at $2.89, with a volume of 86,459 shares.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Seritage Growth Properties from a "hold" rating to a "sell" rating in a research note on Saturday.

Seritage Growth Properties Stock Performance

The company has a current ratio of 10.67, a quick ratio of 10.67 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $164.20 million, a price-to-earnings ratio of -1.01 and a beta of 2.48. The firm has a 50-day simple moving average of $3.06 and a two-hundred day simple moving average of $3.15.

Seritage Growth Properties (NYSE:SRG - Get Free Report) last announced its earnings results on Thursday, May 15th. The financial services provider reported ($0.42) EPS for the quarter. The business had revenue of $4.60 million for the quarter. Seritage Growth Properties had a negative return on equity of 17.07% and a negative net margin of 953.02%.

Hedge Funds Weigh In On Seritage Growth Properties

Hedge funds have recently made changes to their positions in the business. Worth Venture Partners LLC boosted its stake in shares of Seritage Growth Properties by 19.8% in the second quarter. Worth Venture Partners LLC now owns 77,500 shares of the financial services provider's stock valued at $239,000 after buying an additional 12,800 shares during the period. XTX Topco Ltd grew its stake in shares of Seritage Growth Properties by 309.3% in the second quarter. XTX Topco Ltd now owns 62,539 shares of the financial services provider's stock worth $193,000 after purchasing an additional 47,259 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Seritage Growth Properties by 15.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 303,328 shares of the financial services provider's stock worth $980,000 after purchasing an additional 41,711 shares during the last quarter. Alpine Global Management LLC boosted its holdings in shares of Seritage Growth Properties by 12.5% during the 1st quarter. Alpine Global Management LLC now owns 225,000 shares of the financial services provider's stock worth $727,000 after buying an additional 25,000 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Seritage Growth Properties in the 1st quarter valued at $127,000. 78.93% of the stock is owned by institutional investors.

Seritage Growth Properties Company 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.