Sequential Brands Group Inc. (SQBG) Shares Down 2.6%
Sequential Brands Group Inc. (NASDAQ:SQBG)’s share price fell 2.6% on Friday . The stock traded as low as $7.86 and last traded at $7.87, with a volume of 77,368 shares. The stock had previously closed at $8.08.
Several brokerages have recently weighed in on SQBG. Roth Capital reaffirmed a “buy” rating on shares of Sequential Brands Group in a research note on Thursday, May 12th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $11.00 target price on shares of Sequential Brands Group in a research note on Saturday, May 7th. Zacks Investment Research cut shares of Sequential Brands Group from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Brean Capital began coverage on shares of Sequential Brands Group in a research note on Tuesday, June 21st. They issued a “buy” rating and a $16.00 target price for the company. Finally, Canaccord Genuity reissued a “buy” rating on shares of Sequential Brands Group in a research note on Wednesday, April 6th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $15.08.
The company has a 50-day moving average price of $8.18 and a 200-day moving average price of $6.90. The company’s market capitalization is $499.41 million.
Sequential Brands Group (NASDAQ:SQBG) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($0.02) earnings per share (EPS) for the quarter. During the same quarter in the previous year, the business posted $0.03 earnings per share. The business earned $34 million during the quarter, compared to analysts’ expectations of $27.42 million. The business’s revenue for the quarter was up 149.7% on a year-over-year basis. Equities analysts predict that Sequential Brands Group Inc. will post $0.45 EPS for the current year.
A number of institutional investors have modified their holdings of the stock. Russell Frank Co raised its position in shares of Sequential Brands Group by 109.5% in the fourth quarter. Russell Frank Co now owns 380,905 shares of the company’s stock valued at $3,054,000 after buying an additional 199,077 shares during the period. Boston Partners purchased a new position in shares of Sequential Brands Group during the fourth quarter worth $8,071,000. Finally, State of New Jersey Common Pension Fund D raised its position in shares of Sequential Brands Group by 22.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 1,344,200 shares of the company’s stock worth $10,633,000 after buying an additional 245,000 shares during the last quarter.
Sequential Brands Group, Inc owns a portfolio of consumer brands in the fashion, home, athletic and lifestyle categories. The Company’s portfolio of consumer brands includes Martha Stewart, Emeril Lagasse, Jessica Simpson, Joe’s Jeans, William Rast, Ellen Tracy, Revo, AND1 and Avia. The Company’s brands are licensed for a range of product categories, including apparel, footwear, eyewear, fashion accessories and home goods.
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