Stock traders buy high volume of put options from Seritage Growth Properties (NYSE: SRG)

Seritage Growth Properties (NYSE:SRG – Get Rating) saw unusual options trading activity on Friday. Equity investors bought 11,329 put options on the stock. This represents a 271% increase from the typical daily volume of 3,056 put options.

Institutional entries and exits

Hedge funds and other institutional investors have recently changed their positions in the stock. Vanguard Group Inc. increased its stake in shares of Seritage Growth Properties by 10.1% in the first quarter. Vanguard Group Inc. now owns 5,125,204 shares of the financial services provider worth $64,885,000 after acquiring an additional 471,047 shares during the period. Towerview LLC increased its position in Seritage Growth Properties by 458.3% during the second quarter. Towerview LLC now owns 335,000 shares of the financial services provider valued at $1,745,000 after purchasing an additional 275,000 shares during the period. Zweig DiMenna Associates LLC acquired a new stake in Seritage Growth Properties during the second quarter valued at $1,263,000. Millennium Management LLC acquired a new stake in Seritage Growth Properties during the second quarter valued at $1,084,000. Finally, Governors Lane LP acquired a new stake in Seritage Growth Properties during the first quarter at a value of $2,592,000. Hedge funds and other institutional investors own 67.69% of the company’s shares.

Serage Growth Property Price Performance

NYSE: SRG was down $0.49 in Friday’s midday session, hitting $11.50. 15,105 shares of the stock traded in hands, compared to its average volume of 524,710. Seritage Growth Properties has a 12-month low of $4.90 and a 12-month high of $17.12. The company has a 50-day moving average of $12.31 and a two-hundred-day moving average of $10.45. The company has a current ratio of 5.92, a quick ratio of 5.92 and a debt ratio of 2.30.

Seritage Growth Properties (NYSE:SRG – Get Rating) last reported results on Tuesday, August 9. The financial services provider reported ($1.76) EPS for the quarter. The company had revenue of $29.70 million for the quarter. Seritage Growth Properties posted a negative net margin of 93.58% and a negative return on equity of 10.05%.

A Wall Street analyst gives his opinion

Separately, StockNews.com upgraded shares of Seritage Growth Properties to a “sell” rating in a research note on Monday.

Serage Growth Properties Company Profile

(Get an evaluation)

Seritage Growth Properties is a publicly traded, self-administered, self-managed REIT with 166 wholly owned and 29 unconsolidated properties totaling approximately 30.4 million square feet of space in 44 states and Puerto Rico. The company was created to unlock the underlying real estate value of a high-quality retail portfolio acquired from Sears Holdings in July 2015.

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