Citadel Advisors LLC trimmed its holdings in shares of Sequential Brands Group, Inc. (NASDAQ:SQBG) by 37.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 154,595 shares of the textile maker’s stock after selling 93,140 shares during the period. Citadel Advisors LLC owned approximately 0.25% of Sequential Brands Group worth $617,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SQBG. Wells Fargo & Company MN lifted its holdings 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 during the last quarter. Rhumbline Advisers lifted its holdings 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 during the last quarter. DORCHESTER WEALTH MANAGEMENT Co purchased a new position in shares of Sequential Brands Group during the second quarter valued at approximately $200,000. Teachers Advisors LLC lifted its holdings in shares of Sequential Brands Group by 11.5% during the second quarter. Teachers Advisors LLC now owns 77,412 shares of the textile maker’s stock valued at $309,000 after purchasing an additional 7,958 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new position in shares of Sequential Brands Group during the second quarter valued at approximately $407,000. Hedge funds and other institutional investors own 51.90% of the company’s stock.

Several equities analysts have recently issued reports on SQBG shares. CL King lowered shares of Sequential Brands Group from a “buy” rating to a “neutral” rating in a report on Wednesday, June 28th. ValuEngine upgraded shares of Sequential Brands Group from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. FBR & Co restated an “outperform” rating and issued a $7.00 price objective on shares of Sequential Brands Group in a report on Tuesday, July 11th. Zacks Investment Research lowered shares of Sequential Brands Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Canaccord Genuity set a $6.00 price objective on shares of Sequential Brands Group and gave the stock a “buy” rating in a report on Thursday, July 27th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Sequential Brands Group currently has an average rating of “Buy” and an average target price of $8.20.

Sequential Brands Group, Inc. (NASDAQ SQBG) opened at 2.88 on Friday. The company has a 50-day moving average of $2.87 and a 200-day moving average of $3.29. Sequential Brands Group, Inc. has a one year low of $2.55 and a one year high of $8.31. The stock has a market capitalization of $181.11 million, a price-to-earnings ratio of 106.67 and a beta of 0.67.

Sequential Brands Group (NASDAQ:SQBG) last posted its earnings results 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 net margin of 0.99% and a return on equity of 1.29%. The company had revenue of $42.10 million during the quarter, compared to analysts’ expectations of $39.15 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. Sequential Brands Group’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, equities analysts forecast that Sequential Brands Group, Inc. will post $0.52 EPS for the current fiscal year.

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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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Institutional Ownership by Quarter for Sequential Brands Group (NASDAQ:SQBG)

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