Insider Buying: Sequential Brands Group Inc (NASDAQ:SQBG) Major Shareholder Acquires 194,464 Shares of Stock

Sequential Brands Group Inc (NASDAQ:SQBG) major shareholder Tcp Wr Acquisition Llc purchased 194,464 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was acquired at an average price of $1.64 per share, for a total transaction of $318,920.96. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of Sequential Brands Group Inc (NASDAQ:SQBG) opened at $1.79 on Monday. Sequential Brands Group Inc has a one year low of $1.36 and a one year high of $5.50. The stock has a market cap of $113.04, a price-to-earnings ratio of 9.42, a P/E/G ratio of 0.25 and a beta of 0.47. 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 released 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). Sequential Brands Group had a negative net margin of 14.35% and a positive return on equity of 2.26%. The company had revenue of $39.00 million during the quarter, compared to analyst estimates of $43.66 million. During the same period in the prior year, the business posted $0.12 EPS. Sequential Brands Group’s revenue was down 7.1% compared to the same quarter last year. equities analysts expect that Sequential Brands Group Inc will post 0.48 earnings per share for the current fiscal year.

A number of equities research analysts have recently commented on SQBG shares. B. Riley reaffirmed a “buy” rating and set a $7.00 price objective on shares of Sequential Brands Group in a research note on Monday, November 6th. Roth Capital set a $3.00 price objective on shares of Sequential Brands Group and gave the stock a “buy” rating in a research note on Monday, October 23rd. ValuEngine raised shares of Sequential Brands Group from a “hold” rating to a “buy” rating in a research note on Thursday, October 5th. Cowen reaffirmed a “hold” rating and set a $6.00 price objective on shares of Sequential Brands Group in a research note on Thursday, September 28th. Finally, Canaccord Genuity cut shares of Sequential Brands Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $6.00 to $1.50 in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $6.92.

A number of institutional investors have recently added to or reduced their stakes in SQBG. Goldman Sachs Group Inc. grew its stake in Sequential Brands Group by 1,114.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,363,853 shares of the textile maker’s stock valued at $9,432,000 after acquiring an additional 2,169,169 shares during the period. Emerald Advisers Inc. PA lifted its holdings in Sequential Brands Group by 14.5% in the 3rd quarter. Emerald Advisers Inc. PA now owns 1,362,730 shares of the textile maker’s stock valued at $4,075,000 after purchasing an additional 172,382 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in Sequential Brands Group in the 2nd quarter valued at $407,000. Eagle Asset Management Inc. lifted its holdings in Sequential Brands Group by 41.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 317,945 shares of the textile maker’s stock valued at $953,000 after purchasing an additional 92,433 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Sequential Brands Group by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,626,499 shares of the textile maker’s stock valued at $6,489,000 after purchasing an additional 61,722 shares in the last quarter. 50.29% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: This piece was posted by Week Herald and is the sole property of of Week Herald. If you are viewing this piece on another domain, it was stolen and reposted in violation of international trademark & copyright laws. The correct version of this piece can be viewed at https://weekherald.com/2017/12/04/sequential-brands-group-inc-sqbg-major-shareholder-tcp-wr-acquisition-llc-acquires-194464-shares-of-stock.html.

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.

Insider Buying and Selling by Quarter for Sequential Brands Group (NASDAQ:SQBG)

Receive News & Ratings for Sequential Brands Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sequential Brands Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply