Sequential Brands Group Inc. (SQBG) Sees Strong Trading Volume
Sequential Brands Group Inc. (NASDAQ:SQBG) saw unusually-strong trading volume on Tuesday . Approximately 339,663 shares were traded during trading, an increase of 68% from the previous session’s volume of 201,652 shares.The stock last traded at $7.20 and had previously closed at $7.33.
A number of equities analysts recently weighed in on SQBG shares. Brean Capital started coverage on shares of Sequential Brands Group in a research report on Tuesday, June 21st. They set a “buy” rating and a $16.00 price objective for the company. Piper Jaffray Cos. reissued a “buy” rating and issued a $11.00 price target on shares of Sequential Brands Group in a research report on Tuesday, June 14th. Roth Capital reissued a “buy” rating on shares of Sequential Brands Group in a research report on Thursday, May 12th. Canaccord Genuity set a $18.00 price target on shares of Sequential Brands Group and gave the company a “buy” rating in a research report on Thursday, July 28th. Finally, Zacks Investment Research raised shares of Sequential Brands Group from a “hold” rating to a “buy” rating and set a $9.25 price target for the company in a research report on Thursday, July 28th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $14.71.
The firm’s 50 day moving average price is $7.83 and its 200 day moving average price is $6.98. The stock’s market cap is $443.01 million.
Sequential Brands Group (NASDAQ:SQBG) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. During the same period last year, the company posted $0.08 EPS. The company had revenue of $34.20 million for the quarter, compared to analyst estimates of $31.23 million. The business’s revenue for the quarter was up 69.3% on a year-over-year basis. Equities research analysts anticipate that Sequential Brands Group Inc. will post $0.45 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Sequential Brands Group stock. Russell Frank Co raised its stake in Sequential Brands Group Inc. (NASDAQ:SQBG) by 109.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 380,905 shares of the company’s stock after buying an additional 199,077 shares during the period. Russell Frank Co owned about 0.95% of Sequential Brands Group worth $3,054,000 as of its most recent SEC filing.
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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