Sequential Brands Group (SQBG) Cut to “Hold” at ValuEngine

Sequential Brands Group (NASDAQ:SQBG) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Sunday, December 31st.

SQBG has been the subject of a number of other reports. Zacks Investment Research lowered shares of Sequential Brands Group from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. Roth Capital set a $3.00 price objective on shares of Sequential Brands Group and gave the stock a “buy” rating in a report on Monday, October 23rd. Cowen restated a “hold” rating and issued a $6.00 price objective on shares of Sequential Brands Group in a report on Thursday, September 28th. Canaccord Genuity lowered shares of Sequential Brands Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $6.00 to $1.50 in a report on Friday, November 10th. Finally, B. Riley reiterated a “buy” rating and set a $7.00 target price on shares of Sequential Brands Group in a report on Monday, November 6th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $6.92.

Sequential Brands Group (SQBG) traded up $0.12 on Friday, reaching $1.76. The company had a trading volume of 289,100 shares, compared to its average volume of 153,592. The company has a market capitalization of $103.57, a PE ratio of -4.63, a PEG ratio of 0.20 and a beta of 0.46. 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 has a 1-year low of $1.36 and a 1-year high of $4.83.

Sequential Brands Group (NASDAQ:SQBG) last announced its quarterly earnings data on Thursday, November 9th. The textile maker reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.02). Sequential Brands Group had a negative net margin of 14.35% and a positive return on equity of 2.26%. The company had revenue of $39.00 million for the quarter, compared to the consensus estimate of $43.66 million. During the same period last year, the business posted $0.12 earnings per share. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. equities research analysts predict that Sequential Brands Group will post 0.45 EPS for the current year.

In other news, Director William Sweedler bought 86,036 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were bought at an average price of $1.68 per share, for a total transaction of $144,540.48. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Aaron P. Hollander bought 20,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average price of $1.72 per share, for a total transaction of $34,400.00. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 473,200 shares of company stock valued at $765,636. 27.30% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC lifted its stake in Sequential Brands Group by 37.6% in the 2nd quarter. Voya Investment Management LLC now owns 25,485 shares of the textile maker’s stock worth $102,000 after purchasing an additional 6,958 shares in the last quarter. OxFORD Asset Management LLP purchased a new stake in Sequential Brands Group in the 3rd quarter worth $136,000. NJ State Employees Deferred Compensation Plan bought a new stake in shares of Sequential Brands Group in the 3rd quarter worth about $150,000. Rhumbline Advisers increased its holdings in shares of Sequential Brands Group by 3.9% in the 2nd quarter. Rhumbline Advisers now owns 47,762 shares of the textile maker’s stock worth $191,000 after buying an additional 1,780 shares during the last quarter. Finally, Teachers Advisors LLC increased its holdings in shares of Sequential Brands Group by 11.5% in the 2nd quarter. Teachers Advisors LLC now owns 77,412 shares of the textile maker’s stock worth $309,000 after buying an additional 7,958 shares during the last quarter. Institutional investors and hedge funds own 50.31% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Sequential Brands Group (NASDAQ:SQBG)

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