Sequential Brands Group Inc. (SQBG) Trading Down 3%
Sequential Brands Group Inc. (NASDAQ:SQBG)’s share price fell 3% on Thursday . The company traded as low as $7.89 and last traded at $7.95, with a volume of 183,915 shares trading hands. The stock had previously closed at $8.20.
A number of brokerages have weighed in on SQBG. Piper Jaffray Cos. reiterated a “buy” rating on shares of Sequential Brands Group in a report on Thursday. 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 report on Thursday. Brean Capital reiterated a “buy” rating and issued a $15.00 price target on shares of Sequential Brands Group in a report on Wednesday, July 6th. Roth Capital reiterated a “buy” rating on shares of Sequential Brands Group in a report on Thursday, May 12th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Sequential Brands Group in a report on Wednesday, April 6th. Six analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of $15.38.
The firm’s 50-day moving average is $8.10 and its 200-day moving average is $6.92. The firm’s market cap is $501.90 million.
Sequential Brands Group (NASDAQ:SQBG) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.02. The firm had revenue of $34.20 million for the quarter, compared to analyst estimates of $31.23 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The firm’s revenue was up 69.3% compared to the same quarter last year. 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 recently added to or reduced their stakes in the stock. 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 in the last quarter. Boston Partners purchased 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 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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