Sequential Brands Group Inc. (SQBG) Shares Down 4%
Sequential Brands Group Inc. (NASDAQ:SQBG) was down 4% during mid-day trading on Wednesday . The stock traded as low as $7.14 and last traded at $7.16, with a volume of 151,677 shares changing hands. The stock had previously closed at $7.46.
Several equities research analysts have recently issued reports on SQBG shares. Brean Capital reiterated a “buy” rating and set a $15.00 price objective on shares of Sequential Brands Group in a research report on Friday, July 29th. Canaccord Genuity restated a “buy” rating on shares of Sequential Brands Group in a research report on Wednesday, April 6th. Piper Jaffray Cos. restated a “buy” rating and issued a $11.00 price target on shares of Sequential Brands Group in a research report on Tuesday, June 14th. Zacks Investment Research upgraded shares of Sequential Brands Group from a “hold” rating to a “buy” rating and set a $9.25 price target on the stock in a research report on Thursday, July 28th. Finally, Roth Capital restated a “buy” rating on shares of Sequential Brands Group in a research report on Thursday, May 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $14.71.
The stock’s market capitalization is $448.61 million. The company has a 50-day moving average of $8.03 and a 200-day moving average of $6.95.
Sequential Brands Group (NASDAQ:SQBG) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The company earned $34.20 million during the quarter, compared to analysts’ expectations of $31.23 million. The company’s revenue for the quarter was up 69.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 EPS. On average, equities research analysts anticipate that Sequential Brands Group Inc. will post $0.45 EPS for the current fiscal year.
A number of large investors recently added to or reduced their stakes in SQBG. 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 valued at $10,633,000 after buying an additional 245,000 shares in the last quarter. Boston Partners bought a new stake in Sequential Brands Group during the fourth quarter valued at approximately $8,071,000. Finally, 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 valued at $3,054,000 after buying an additional 199,077 shares in 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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