Sequential Brands Group Inc. (SQBG) Sees Large Volume Increase
Sequential Brands Group Inc. (NASDAQ:SQBG) shares saw an uptick in trading volume on Tuesday . 339,663 shares traded hands 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 research firms have issued reports on SQBG. Brean Capital initiated coverage on shares of Sequential Brands Group in a research note on Tuesday, June 21st. They set a “buy” rating and a $16.00 target price for the company. Piper Jaffray Cos. restated a “buy” rating and set 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. Canaccord Genuity set a $18.00 price target on shares of Sequential Brands Group and gave the stock a “buy” rating 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 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 a consensus rating of “Buy” and an average price target of $14.71.
The company has a 50 day moving average price of $7.87 and a 200-day moving average price of $6.98. The firm’s market cap is $444.25 million.
Sequential Brands Group (NASDAQ:SQBG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The business earned $34.20 million during the quarter, compared to analyst estimates of $31.23 million. During the same quarter in the prior year, the company posted $0.08 EPS. The company’s quarterly revenue was up 69.3% compared to the same quarter last year. Analysts predict that Sequential Brands Group Inc. will post $0.45 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Sequential Brands Group stock. State of New Jersey Common Pension Fund D raised its position in shares of Sequential Brands Group Inc. (NASDAQ:SQBG) by 22.3% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,344,200 shares of the company’s stock after buying an additional 245,000 shares during the period. State of New Jersey Common Pension Fund D owned approximately 3.35% of Sequential Brands Group worth $10,633,000 as of its most recent filing with the SEC.
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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