Sequential Brands Group Inc. (SQBG) Stock Price Down 2.6%
Sequential Brands Group Inc. (NASDAQ:SQBG) was down 2.6% during mid-day trading 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 equities research analysts have recently issued reports on SQBG shares. Brean Capital started coverage on shares of Sequential Brands Group in a report on Tuesday, June 21st. They issued a “buy” rating and a $16.00 target price for the company. Piper Jaffray Cos. reiterated an “overweight” rating and set a $11.00 price objective on shares of Sequential Brands Group in a report on Friday, April 1st. Canaccord Genuity reiterated a “buy” rating on shares of Sequential Brands Group in a report on Wednesday, April 6th. Zacks Investment Research lowered shares of Sequential Brands Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Finally, Roth Capital reiterated a “buy” rating on shares of Sequential Brands Group in a report on Thursday, May 12th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $15.08.
The company’s market capitalization is $499.41 million. The firm’s 50 day moving average price is $8.19 and its 200 day moving average price is $6.90.
Sequential Brands Group (NASDAQ:SQBG) last released its earnings results on Thursday, May 5th. The company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $34 million for the quarter, compared to analyst estimates of $27.42 million. During the same period last year, the firm earned $0.03 earnings per share. The firm’s quarterly revenue was up 149.7% on a year-over-year basis. Equities research analysts forecast that Sequential Brands Group Inc. will post $0.45 earnings per share for the current fiscal year.
Several large investors have added to or reduced their stakes in SQBG. Russell Frank Co raised its stake in Sequential Brands Group by 109.5% in the fourth quarter. Russell Frank Co now owns 380,905 shares of the company’s stock worth $3,054,000 after buying an additional 199,077 shares during the last quarter. Boston Partners acquired a new stake in Sequential Brands Group during the fourth quarter worth about $8,071,000. Finally, State of New Jersey Common Pension Fund D raised its stake in 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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