ValuEngine Downgrades Sequential Brands Group (SQBG) to Hold
Sequential Brands Group (NASDAQ:SQBG) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.
Several other equities analysts have also commented on SQBG. Cowen reaffirmed a “hold” rating and set a $6.00 price target on shares of Sequential Brands Group in a research report on Thursday, September 28th. Roth Capital set a $3.00 price target on shares of Sequential Brands Group and gave the stock a “buy” rating in a research report on Monday, October 23rd. Zacks Investment Research lowered shares of Sequential Brands Group from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. B. Riley reissued a “buy” rating and issued a $7.00 price objective on shares of Sequential Brands Group in a research report on Monday, November 6th. Finally, Canaccord Genuity lowered shares of Sequential Brands Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $6.00 to $1.50 in a research report on Friday, November 10th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $6.92.
Shares of Sequential Brands Group (SQBG) traded up $0.08 during mid-day trading on Friday, reaching $1.78. 581,459 shares of the company traded hands, compared to its average volume of 416,294. Sequential Brands Group has a 1 year low of $1.36 and a 1 year high of $5.20. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $112.41, a price-to-earnings ratio of -4.68, a price-to-earnings-growth ratio of 0.24 and a beta of 0.45.
Sequential Brands Group (NASDAQ:SQBG) last issued its quarterly earnings results on Thursday, November 9th. The textile maker reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). Sequential Brands Group had a positive return on equity of 2.26% and a negative net margin of 14.35%. The company had revenue of $39.00 million for the quarter, compared to analyst estimates of $43.66 million. During the same period last year, the company posted $0.12 EPS. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. sell-side analysts anticipate that Sequential Brands Group will post 0.48 earnings per share for the current fiscal year.
In other Sequential Brands Group news, major shareholder Tcp Wr Acquisition Llc acquired 194,464 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average price of $1.64 per share, with a total value of $318,920.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aaron P. Hollander acquired 20,000 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was acquired at an average cost of $1.72 per share, with a total value of $34,400.00. The disclosure for this purchase can be found here. Insiders bought 473,200 shares of company stock valued at $765,636 in the last three months. Company insiders own 27.30% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SQBG. IHT Wealth Management LLC purchased a new position in shares of Sequential Brands Group in the second quarter valued at $712,000. Voya Investment Management LLC boosted its stake in shares of Sequential Brands Group by 37.6% in the second quarter. Voya Investment Management LLC now owns 25,485 shares of the textile maker’s stock valued at $102,000 after purchasing an additional 6,958 shares during the period. OxFORD Asset Management LLP purchased a new position in shares of Sequential Brands Group in the third quarter valued at $136,000. Rhumbline Advisers boosted its stake in shares of Sequential Brands Group by 3.9% in the second quarter. Rhumbline Advisers now owns 47,762 shares of the textile maker’s stock valued at $191,000 after purchasing an additional 1,780 shares during the period. Finally, NJ State Employees Deferred Compensation Plan purchased a new position in shares of Sequential Brands Group in the third quarter valued at $150,000. 50.31% of the stock is owned by institutional investors.
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Sequential Brands Group Company Profile
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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