Sequential Brands Group (SQBG) Downgraded by ValuEngine
ValuEngine lowered shares of Sequential Brands Group (NASDAQ:SQBG) from a buy rating to a hold rating in a research report released on Sunday.
A number of other equities analysts also recently commented on SQBG. Cowen reissued a hold rating and issued a $6.00 price objective on shares of Sequential Brands Group in a research note on Thursday, September 28th. Zacks Investment Research raised shares of Sequential Brands Group from a sell rating to a hold rating in a research note on Tuesday, December 26th. Canaccord Genuity downgraded shares of Sequential Brands Group from a buy rating to a hold rating and reduced their price objective for the stock from $6.00 to $1.50 in a research note on Friday, November 10th. Roth Capital downgraded shares of Sequential Brands Group from a buy rating to a neutral rating and reduced their price objective for the stock from $3.25 to $2.00 in a research note on Monday, November 13th. < Finally, B. Riley reissued a buy rating and issued a $7.00 price objective on shares of Sequential Brands Group in a research note on Monday, November 6th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $6.92.
Sequential Brands Group (NASDAQ:SQBG) opened at $1.81 on Friday. The company has a market cap of $112.41, a P/E ratio of -4.76, a P/E/G ratio of 0.22 and a beta of 0.46. Sequential Brands Group has a 12 month low of $1.36 and a 12 month high of $5.20. 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 (NASDAQ:SQBG) last issued its quarterly earnings data on Thursday, November 9th. The textile maker reported $0.11 EPS for the quarter, missing analysts’ consensus estimates 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 business’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period last year, the firm earned $0.12 EPS. analysts forecast that Sequential Brands Group will post 0.48 EPS for the current fiscal year.
In other news, major shareholder Matthew Eby purchased 91,200 shares of the business’s stock in a transaction on Monday, November 13th. The shares were acquired at an average cost of $1.60 per share, with a total value of $145,920.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Aaron P. Hollander purchased 20,000 shares of the business’s stock in a transaction on Monday, November 20th. The stock was purchased at an average cost of $1.72 per share, for a total transaction of $34,400.00. The disclosure for this purchase can be found here. Insiders acquired 473,200 shares of company stock worth $765,636 over the last ninety days. Corporate insiders own 27.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC grew its holdings in Sequential Brands Group by 37.6% in the second 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 during the last quarter. OxFORD Asset Management LLP purchased a new position in Sequential Brands Group in the third quarter worth $136,000. NJ State Employees Deferred Compensation Plan purchased a new position in Sequential Brands Group in the third quarter worth $150,000. Rhumbline Advisers grew its holdings in Sequential Brands Group by 3.9% in the second quarter. Rhumbline Advisers now owns 47,762 shares of the textile maker’s stock worth $191,000 after purchasing an additional 1,780 shares during the last quarter. Finally, Teachers Advisors LLC grew its holdings in Sequential Brands Group by 11.5% in the second quarter. Teachers Advisors LLC now owns 77,412 shares of the textile maker’s stock worth $309,000 after purchasing an additional 7,958 shares during the last quarter. 50.31% of the stock is currently owned by institutional investors and hedge funds.
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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.
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