Sequential Brands Group Inc. (SQBG) Stock Price Up 5%
Sequential Brands Group Inc. (NASDAQ:SQBG) rose 5% on Friday . The company traded as high as $7.96 and last traded at $7.91, with a volume of 93,087 shares changing hands. The stock had previously closed at $7.53.
SQBG has been the subject of a number of research analyst reports. 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. Roth Capital reissued a “buy” rating on shares of Sequential Brands Group in a research report on Thursday, May 12th. 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 target price on the stock. Finally, Zacks Investment Research downgraded shares of Sequential Brands Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Sequential Brands Group currently has an average rating of “Buy” and a consensus target price of $15.08.
The stock has a 50-day moving average price of $8.07 and a 200 day moving average price of $6.89. The stock’s market cap is $491.35 million.
Sequential Brands Group (NASDAQ:SQBG) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($0.02) earnings per share (EPS) for the quarter. The company had revenue of $34 million for the quarter, compared to analysts’ expectations of $27.42 million. The company’s revenue for the quarter was up 149.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 earnings per share. On average, analysts forecast that Sequential Brands Group Inc. will post $0.45 earnings per share for the current year.
Other large investors have recently made changes to their positions in the company. Russell Frank Co raised its stake 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 worth $3,054,000 after buying an additional 199,077 shares in the last quarter. Boston Partners bought a new position in Sequential Brands Group during the fourth quarter worth approximately $8,071,000. Eagle Asset Management Inc. bought a new position in Sequential Brands Group during the fourth quarter worth approximately $9,004,000. Finally, State of New Jersey Common Pension Fund D boosted its position 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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