Zacks Investment Research upgraded shares of Sequential Brands Group (NASDAQ:SQBG) from a sell rating to a hold rating in a research note published on Thursday morning.
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. “
A number of other research analysts have also recently issued reports on SQBG. Canaccord Genuity cut Sequential Brands Group from a buy rating to a hold rating and cut their price target for the company from $6.00 to $1.50 in a report on Friday, November 10th. Roth Capital cut Sequential Brands Group from a buy rating to a neutral rating and cut their price target for the company from $3.25 to $2.00 in a report on Monday, November 13th. < B. Riley reaffirmed a buy rating and issued a $7.00 price target on shares of Sequential Brands Group in a report on Monday, November 6th. Finally, ValuEngine cut Sequential Brands Group from a buy rating to a hold rating in a report on Sunday, December 31st. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $6.92.
Shares of Sequential Brands Group (NASDAQ SQBG) traded up $0.03 during midday trading on Thursday, hitting $1.68. The company’s stock had a trading volume of 44,100 shares, compared to its average volume of 172,407. The company has a market capitalization of $104.20, a PE ratio of -4.63, a PEG ratio of 0.20 and a beta of -0.03. Sequential Brands Group has a 12 month low of $1.36 and a 12 month high of $4.21. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.46 and a current ratio of 1.46.
In other Sequential Brands Group news, Director Aaron P. Hollander purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was acquired at an average cost of $1.72 per share, with a total value of $34,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 27.30% of the company’s stock.
Large investors have recently made changes to their positions in the business. Eagle Asset Management Inc. raised its holdings in Sequential Brands Group by 41.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 317,945 shares of the textile maker’s stock worth $953,000 after purchasing an additional 92,433 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Sequential Brands Group by 1,114.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,363,853 shares of the textile maker’s stock worth $9,432,000 after purchasing an additional 2,169,169 shares during the last quarter. Vanguard Group Inc. raised its holdings in Sequential Brands Group by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,626,499 shares of the textile maker’s stock worth $6,489,000 after purchasing an additional 61,722 shares during the last quarter. Emerald Advisers Inc. PA raised its holdings in Sequential Brands Group by 14.5% during the 3rd quarter. Emerald Advisers Inc. PA now owns 1,362,730 shares of the textile maker’s stock worth $4,075,000 after purchasing an additional 172,382 shares during the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co raised its holdings in Sequential Brands Group by 120.0% during the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 110,000 shares of the textile maker’s stock worth $329,000 after purchasing an additional 60,000 shares during the last quarter. 46.80% of the stock is owned by hedge funds and other institutional investors.
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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.
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