Ameriprise Financial Inc. reduced its stake in Sequential Brands Group, Inc. (NASDAQ:SQBG) by 97.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,176 shares of the textile maker’s stock after selling 1,102,113 shares during the quarter. Ameriprise Financial Inc.’s holdings in Sequential Brands Group were worth $116,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D lifted its stake in shares of Sequential Brands Group by 3.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,706,200 shares of the textile maker’s stock worth $6,808,000 after acquiring an additional 50,000 shares during the period. Vanguard Group Inc. lifted its stake in shares of Sequential Brands Group by 1.1% in the first quarter. Vanguard Group Inc. now owns 1,564,777 shares of the textile maker’s stock worth $6,088,000 after acquiring an additional 16,649 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Sequential Brands Group by 9.2% in the second quarter. Russell Investments Group Ltd. now owns 400,703 shares of the textile maker’s stock worth $1,598,000 after acquiring an additional 33,670 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of Sequential Brands Group by 1.4% in the first quarter. Parametric Portfolio Associates LLC now owns 206,366 shares of the textile maker’s stock worth $803,000 after acquiring an additional 2,767 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Sequential Brands Group by 1,188.5% in the first quarter. Goldman Sachs Group Inc. now owns 194,684 shares of the textile maker’s stock worth $757,000 after acquiring an additional 179,575 shares during the period. 51.03% of the stock is currently owned by institutional investors.

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SQBG has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Sequential Brands Group from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. 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. Roth Capital set a $3.00 target price on Sequential Brands Group and gave the stock a “buy” rating in a report on Monday, October 23rd. ValuEngine downgraded Sequential Brands Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Sequential Brands Group has a consensus rating of “Hold” and a consensus price target of $6.92.

Shares of Sequential Brands Group, Inc. (NASDAQ:SQBG) opened at $1.78 on Tuesday. The firm has a market capitalization of $107.67, a P/E ratio of 8.63, a price-to-earnings-growth ratio of 0.23 and a beta of 0.48. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.16. Sequential Brands Group, Inc. has a 1-year low of $1.36 and a 1-year high of $6.00.

Sequential Brands Group (NASDAQ:SQBG) last issued its earnings results on Thursday, November 9th. The textile maker reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.02). The business had revenue of $39.00 million during the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.12 earnings per share. equities analysts anticipate that Sequential Brands Group, Inc. will post 0.48 EPS for the current year.

In other news, major shareholder Tcp Wr Acquisition Llc acquired 194,464 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was purchased at an average price of $1.64 per share, for a total transaction of $318,920.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Karen Murray acquired 62,500 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were purchased at an average price of $1.47 per share, with a total value of $91,875.00. Following the acquisition, the chief executive officer now owns 188,115 shares of the company’s stock, valued at $276,529.05. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 473,200 shares of company stock valued at $765,636. Corporate insiders own 27.30% of the company’s stock.

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

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