Eagle Asset Management Inc. grew its stake in shares of Sequential Brands Group Inc (NASDAQ:SQBG) by 41.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 317,945 shares of the textile maker’s stock after buying an additional 92,433 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.50% of Sequential Brands Group worth $953,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Voya Investment Management LLC grew its stake in shares of 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. NJ State Employees Deferred Compensation Plan bought a new stake in Sequential Brands Group during the third quarter valued at $150,000. Rhumbline Advisers boosted its position in 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 acquiring an additional 1,780 shares during the last quarter. Teachers Advisors LLC boosted its position in 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 acquiring an additional 7,958 shares during the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co boosted its position in Sequential Brands Group by 120.0% during the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 110,000 shares of the textile maker’s stock valued at $329,000 after acquiring an additional 60,000 shares during the last quarter. 50.33% of the stock is currently owned by hedge funds and other institutional investors.
Sequential Brands Group Inc (SQBG) opened at $1.62 on Thursday. The company has a market cap of $111.15, a price-to-earnings ratio of 9.26, a P/E/G ratio of 0.24 and a beta of 0.45. Sequential Brands Group Inc has a 52-week low of $1.36 and a 52-week high of $5.50. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.46 and a quick ratio of 1.46.
Sequential Brands Group (NASDAQ:SQBG) last announced its quarterly earnings results on Thursday, November 9th. The textile maker reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The firm 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%. Sequential Brands Group’s revenue was down 7.1% on a year-over-year basis. During the same period last year, the business earned $0.12 EPS. analysts forecast that Sequential Brands Group Inc will post 0.48 earnings per share for the current year.
In related news, major shareholder Matthew Eby acquired 91,200 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was purchased at an average cost of $1.60 per share, with a total value of $145,920.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Aaron P. Hollander purchased 20,000 shares of the company’s stock in a transaction on Monday, November 20th. The stock was purchased at an average price of $1.72 per share, with a total value of $34,400.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 473,200 shares of company stock valued at $765,636. 27.30% of the stock is currently owned by corporate insiders.
Several brokerages have recently weighed in on SQBG. B. Riley reiterated a “buy” rating and set a $7.00 price objective on shares of Sequential Brands Group in a report on Monday, November 6th. Roth Capital set a $3.00 target price on shares of Sequential Brands Group and gave the company a “buy” rating in a research report on Monday, October 23rd. ValuEngine raised shares of Sequential Brands Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th. Cowen reissued a “hold” rating and set a $6.00 target price on shares of Sequential Brands Group in a research report on Thursday, September 28th. Finally, Canaccord Genuity downgraded shares of Sequential Brands Group from a “buy” rating to a “hold” rating and reduced their target price for the company from $6.00 to $1.50 in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $6.92.
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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