Sequential Brands Group (NASDAQ:SQBG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday.
According to Zacks, “Sequential Brands Group Inc. is a licensing and brand management company focused on promoting, marketing and licensing a portfolio of consumer brands. The Company’s brands include William Rast(R) and People’s Liberation(R). It licenses its brands with respect to a broad range of products, including apparel, eyewear, footwear and fashion accessories, including handbags, watches and luggage. Sequential Brands Group Inc., formerly known as People’s Liberation, Inc., is headquartered in Pacific Palisades, California. “
SQBG has been the topic of several other research reports. Roth Capital set a $2.00 price target on Sequential Brands Group and gave the stock a “hold” rating in a research note on Wednesday, August 8th. ValuEngine downgraded Sequential Brands Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd.
Sequential Brands Group stock opened at $1.10 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $74.07 million, a P/E ratio of 2.50, a P/E/G ratio of 0.14 and a beta of 0.15. Sequential Brands Group has a twelve month low of $1.06 and a twelve month high of $2.49.
Sequential Brands Group (NASDAQ:SQBG) last posted its quarterly earnings results on Wednesday, November 7th. The textile maker reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.10). The company had revenue of $40.77 million during the quarter, compared to analysts’ expectations of $44.50 million. Sequential Brands Group had a positive return on equity of 5.99% and a negative net margin of 101.91%. On average, analysts expect that Sequential Brands Group will post 0.55 EPS for the current fiscal year.
In other Sequential Brands Group news, Director Leonard Stewart, Jr. bought 30,000 shares of the business’s stock in a transaction on Tuesday, November 13th. The shares were acquired at an average cost of $1.58 per share, for a total transaction of $47,400.00. Following the purchase, the director now owns 137,621 shares in the company, valued at approximately $217,441.18. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 29.80% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of SQBG. Hartford Investment Management Co. purchased a new stake in Sequential Brands Group during the 2nd quarter valued at $188,000. LMR Partners LLP purchased a new stake in Sequential Brands Group during the 2nd quarter valued at $257,000. Prescott Group Capital Management L.L.C. boosted its stake in Sequential Brands Group by 11.7% during the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 3,270,848 shares of the textile maker’s stock valued at $6,444,000 after purchasing an additional 343,213 shares during the last quarter. Bank of America Corp DE boosted its stake in Sequential Brands Group by 14.1% during the 2nd quarter. Bank of America Corp DE now owns 197,111 shares of the textile maker’s stock valued at $389,000 after purchasing an additional 24,363 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in Sequential Brands Group during the 2nd quarter valued at $381,000. Institutional investors and hedge funds own 45.49% of the company’s stock.
About Sequential Brands Group
Sequential Brands Group, Inc owns, promotes, markets, and licenses a portfolio of consumer brands in the United States and internationally. It offers products in the apparel, footwear, eyewear, fashion accessories, and home goods categories under the Jessica Simpson, AND1, Avia, GAIAM, Joe's Jeans, Ellen Tracy, Emeril Lagasse, William Rast, Heelys, Revo, Caribbean Joe, DVS, The Franklin Mint, Linens N Things, SPRI, Nevados, and FUL brand names; and food, wine, magazines, books, and other print and digital content categories under the Martha Stewart brand name.
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