Roth Capital cut shares of Sequential Brands Group, Inc. (NASDAQ:SQBG) from a buy rating to a neutral rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage currently has $2.00 price target on the textile maker’s stock, down from their prior price target of $3.25. <
Several other analysts have also issued reports on the company. ValuEngine lowered Sequential Brands Group from a buy rating to a hold rating in a report on Friday, September 1st. Cowen and Company set a $6.00 target price on Sequential Brands Group and gave the stock a hold rating in a report on Thursday, July 27th. Zacks Investment Research lowered Sequential Brands Group from a hold rating to a sell rating in a report on Thursday, October 26th. Canaccord Genuity set a $6.00 target price on Sequential Brands Group and gave the stock a buy rating in a report on Thursday, July 27th. Finally, B. Riley reissued a buy rating and set a $7.00 target price on shares of Sequential Brands Group in a report on Monday, November 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $6.92.
Sequential Brands Group (SQBG) traded down $0.06 on Monday, hitting $1.64. The stock had a trading volume of 687,800 shares, compared to its average volume of 265,830. The firm has a market cap of $107.36, a price-to-earnings ratio of 8.95, a P/E/G ratio of 0.23 and a beta of 0.57. Sequential Brands Group has a 12 month low of $1.36 and a 12 month high of $6.15. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 1.16.
Sequential Brands Group (NASDAQ:SQBG) last released its earnings results on Thursday, November 9th. The textile maker reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). The company had revenue of $39.00 million for the quarter, compared to analyst estimates of $43.66 million. Sequential Brands Group had a positive return on equity of 2.26% and a negative net margin of 14.35%. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.12 earnings per share. equities analysts anticipate that Sequential Brands Group will post 0.48 EPS for the current year.
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In other news, CEO Karen Murray purchased 62,500 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were purchased at an average cost of $1.47 per share, with a total value of $91,875.00. Following the completion of the purchase, the chief executive officer now owns 188,115 shares of the company’s stock, valued at approximately $276,529.05. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Matthew Eby purchased 91,200 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were purchased at an average cost of $1.60 per share, for a total transaction of $145,920.00. The disclosure for this purchase can be found here. Insiders purchased 172,700 shares of company stock worth $267,775 over the last ninety days. 27.30% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Voya Investment Management LLC boosted its stake in shares of Sequential Brands Group by 37.6% during 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 in the last quarter. OxFORD Asset Management LLP acquired a new stake in shares of Sequential Brands Group during the third quarter valued at about $136,000. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Sequential Brands Group during the third quarter valued at about $150,000. Wells Fargo & Company MN boosted its stake in shares of Sequential Brands Group by 15.3% during the first quarter. Wells Fargo & Company MN now owns 41,404 shares of the textile maker’s stock valued at $161,000 after purchasing an additional 5,482 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Sequential Brands Group by 3.9% during 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 in the last quarter. 51.56% of the stock is currently owned by hedge funds and other institutional investors.
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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