Prescott Group Capital Management L.L.C. raised its position in Sequential Brands Group, Inc. (NASDAQ:SQBG) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,876,134 shares of the textile maker’s stock after buying an additional 51,000 shares during the period. Sequential Brands Group comprises approximately 1.6% of Prescott Group Capital Management L.L.C.’s holdings, making the stock its 14th largest position. Prescott Group Capital Management L.L.C. owned approximately 2.99% of Sequential Brands Group worth $7,486,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. State Street Corp increased its stake in Sequential Brands Group by 4.8% in the fourth quarter. State Street Corp now owns 605,865 shares of the textile maker’s stock worth $2,834,000 after buying an additional 28,007 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Sequential Brands Group by 22.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 398,702 shares of the textile maker’s stock worth $1,866,000 after buying an additional 73,851 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Sequential Brands Group by 16.3% in the fourth quarter. Teachers Advisors LLC now owns 69,454 shares of the textile maker’s stock valued at $325,000 after buying an additional 9,754 shares in the last quarter. Mycio Wealth Partners LLC purchased a new stake in shares of Sequential Brands Group during the first quarter valued at approximately $100,000. Finally, State of New Jersey Common Pension Fund D increased its stake in shares of Sequential Brands Group by 0.6% in the first quarter. State of New Jersey Common Pension Fund D now owns 1,656,200 shares of the textile maker’s stock valued at $6,443,000 after buying an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 54.19% of the company’s stock.
Sequential Brands Group, Inc. (NASDAQ:SQBG) opened at 2.72 on Thursday. The firm has a market capitalization of $171.05 million, a price-to-earnings ratio of 100.74 and a beta of 0.64. Sequential Brands Group, Inc. has a 52-week low of $2.63 and a 52-week high of $8.49. The stock’s 50 day moving average price is $3.21 and its 200 day moving average price is $3.56.
Sequential Brands Group (NASDAQ:SQBG) last announced its quarterly earnings data on Thursday, July 27th. The textile maker reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.04. Sequential Brands Group had a return on equity of 1.29% and a net margin of 0.99%. The firm had revenue of $42.10 million during the quarter, compared to analysts’ expectations of $39.15 million. During the same quarter last year, the firm posted $0.06 earnings per share. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, equities analysts anticipate that Sequential Brands Group, Inc. will post $0.52 earnings per share for the current fiscal year.
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SQBG has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Sequential Brands Group from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a research note on Thursday, June 29th. Wunderlich boosted their target price on shares of Sequential Brands Group from $9.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Canaccord Genuity set a $6.00 target price on shares of Sequential Brands Group and gave the company a “buy” rating in a research note on Thursday, May 4th. ValuEngine raised Sequential Brands Group from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Roth Capital set a $4.00 price target on Sequential Brands Group and gave the company a “buy” rating in a report on Friday, July 28th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Sequential Brands Group currently has a consensus rating of “Buy” and a consensus price target of $9.06.
About Sequential Brands Group
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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