Insider Buying: Washington Prime Group Inc (WPG) CEO Acquires 28,700 Shares of Stock

Washington Prime Group Inc (NYSE:WPG) CEO Louis G. Conforti bought 28,700 shares of the stock in a transaction on Friday, March 31st. The stock was purchased at an average cost of $8.68 per share, for a total transaction of $249,116.00. Following the acquisition, the chief executive officer now owns 28,700 shares of the company’s stock, valued at approximately $249,116. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Washington Prime Group Inc (NYSE:WPG) traded up 0.32% during mid-day trading on Thursday, hitting $9.38. The company had a trading volume of 616,751 shares. The firm has a market capitalization of $1.74 billion, a P/E ratio of 32.80 and a beta of 1.00. The company has a 50-day moving average price of $8.62 and a 200 day moving average price of $9.87. Washington Prime Group Inc has a 12 month low of $7.89 and a 12 month high of $14.15.

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Separately, Zacks Investment Research downgraded Washington Prime Group from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 7th.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System increased its position in shares of Washington Prime Group by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 46,800 shares of the real estate investment trust’s stock valued at $407,000 after buying an additional 1,000 shares in the last quarter. Federated Investors Inc. PA increased its position in shares of Washington Prime Group by 4.8% in the fourth quarter. Federated Investors Inc. PA now owns 144,579 shares of the real estate investment trust’s stock valued at $1,505,000 after buying an additional 6,584 shares in the last quarter. Comerica Bank increased its position in shares of Washington Prime Group by 6.1% in the fourth quarter. Comerica Bank now owns 136,372 shares of the real estate investment trust’s stock valued at $1,372,000 after buying an additional 7,884 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Washington Prime Group by 12.0% in the fourth quarter. Macquarie Group Ltd. now owns 79,086 shares of the real estate investment trust’s stock valued at $823,000 after buying an additional 8,505 shares in the last quarter. Finally, Tyers Asset Management LLC bought a new position in shares of Washington Prime Group during the fourth quarter valued at about $103,000. Hedge funds and other institutional investors own 91.88% of the company’s stock.

About Washington Prime Group

Washington Prime Group Inc (WPG Inc), formerly WP Glimcher Inc, operates as a self-administered and self-managed real estate investment trust (REIT). The Company’s primary business is the ownership, development and management of retail real estate within the United States. The Company owns, develops and manages enclosed retail properties and community centers.

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