Why Are These Stocks Trending Today?

It’s been a great Thursday for Seritage Growth Properties (NYSE:SRG) shareholders, as the value of their shares has increased by 16.8% after billionaire Warren Buffett filed a 13G showing that he owns a passive position containing 2.0 million shares of the company, equal to 8.02% of its outstanding stock. Seritage Growth Properties (NYSE:SRG) was formed after Sears Holdings sold around 250 of its Kmart and Sears stores to the newly formed company, which in turned leased the majority of the stores back to Sears. Although Berkshire Hathaway has struggled in recent years to beat the market due to its large portfolio size and the bull market, Warren Buffett’s personal account is much smaller, leaving much more room for alpha-generating opportunities. Given Buffett’s unmatched track record, Seritage Growth could have more room to rally in the long run. At the end of the third quarter, 23 funds, among those we track, owned 38.2% of Seritage’s stock.

Last but not least, Allegheny Technologies Incorporated (NYSE:ATI) shares have surged by 11.9% in afternoon trading as investors try to call the bottom on the beaten-up stock. Although shares are down by around 60% year-to-date, analysts expect Allegheny Technologies Incorporated (NYSE:ATI) to earn $0.64 per share next year. Shares also sport an attractive 6.05% dividend yield. A total of 15 funds owned $191.4 million worth of Allegheny’s stock (accounting for 12.30% of the float) on September 30, versus 17 funds and $377.21 million, respectively, on June 30.

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