Sequential Brands Group Inc (SQBG) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Sequential Brands Group Inc (NASDAQ:SQBG) from a hold rating to a buy rating in a report published on Tuesday. They currently have $4.00 price objective on the textile maker’s stock.

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 equities analysts have also commented on SQBG. Canaccord Genuity set a $6.00 price objective on Sequential Brands Group and gave the stock a buy rating in a research note on Thursday, March 2nd. Roth Capital set a $4.00 price objective on Sequential Brands Group and gave the stock a buy rating in a research note on Monday, March 6th. Finally, Wunderlich raised their price objective on Sequential Brands Group from $9.00 to $18.00 and gave the stock a buy rating in a research note on Friday, May 5th. Six investment analysts have rated the stock with a buy rating, The stock has an average rating of Buy and an average target price of $9.83.

Shares of Sequential Brands Group (NASDAQ:SQBG) traded down 1.87% during mid-day trading on Tuesday, reaching $3.14. The company had a trading volume of 63,241 shares. The firm’s 50 day moving average is $3.57 and its 200-day moving average is $4.34. Sequential Brands Group has a 12-month low of $3.07 and a 12-month high of $9.14. The stock’s market capitalization is $197.14 million.

Sequential Brands Group (NASDAQ:SQBG) last announced its earnings results on Thursday, May 4th. The textile maker reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.05. The company had revenue of $39.40 million for the quarter, compared to analyst estimates of $37.08 million. Sequential Brands Group had a positive return on equity of 4.60% and a negative net margin of 3.93%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 earnings per share. On average, analysts expect that Sequential Brands Group will post $0.52 earnings per share for the current fiscal year.

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In related news, Director Leonard Stewart, Jr. bought 12,500 shares of the business’s stock in a transaction on Wednesday, March 22nd. The shares were purchased at an average cost of $3.79 per share, with a total value of $47,375.00. Following the acquisition, the director now owns 99,843 shares of the company’s stock, valued at $378,404.97. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Al Gossett bought 100,000 shares of the business’s stock in a transaction on Monday, March 6th. The shares were bought at an average cost of $3.43 per share, for a total transaction of $343,000.00. Following the completion of the acquisition, the director now directly owns 489,669 shares in the company, valued at approximately $1,679,564.67. The disclosure for this purchase can be found here. 27.30% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of SQBG. Wells Fargo & Company MN raised its position in Sequential Brands Group by 48.1% in the third quarter. Wells Fargo & Company MN now owns 29,208 shares of the textile maker’s stock valued at $233,000 after buying an additional 9,483 shares during the period. Tocqueville Asset Management L.P. raised its position in Sequential Brands Group by 28.4% in the third quarter. Tocqueville Asset Management L.P. now owns 963,882 shares of the textile maker’s stock valued at $7,711,000 after buying an additional 213,400 shares during the period. BlackRock Group LTD raised its position in Sequential Brands Group by 0.4% in the third quarter. BlackRock Group LTD now owns 529,381 shares of the textile maker’s stock valued at $4,235,000 after buying an additional 1,852 shares during the period. Emerald Acquisition Ltd. raised its position in Sequential Brands Group by 4.4% in the third quarter. Emerald Acquisition Ltd. now owns 632,132 shares of the textile maker’s stock valued at $5,057,000 after buying an additional 26,410 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in Sequential Brands Group during the fourth quarter valued at $2,632,000. 59.07% of the stock is owned by hedge funds and other institutional investors.

About Sequential Brands Group

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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