Sequential Brands Group (SQBG) Lowered to “Sell” at Zacks Investment Research

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Sequential Brands Group (NASDAQ:SQBG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a 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. “

A number of other equities research analysts have also weighed in on the company. ValuEngine lowered Sequential Brands Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd. Roth Capital set a $2.00 target price on Sequential Brands Group and gave the company a “hold” rating in a research note on Wednesday, August 8th.

NASDAQ SQBG opened at $1.10 on Friday. Sequential Brands Group has a 1-year low of $1.06 and a 1-year high of $2.49. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a market capitalization of $74.07 million, a PE ratio of 2.50, a P/E/G ratio of 0.14 and a beta of 0.15.

Sequential Brands Group (NASDAQ:SQBG) last released its earnings results on Wednesday, November 7th. The textile maker reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.10). Sequential Brands Group had a negative net margin of 101.91% and a positive return on equity of 5.99%. The company had revenue of $40.77 million during the quarter, compared to the consensus estimate of $44.50 million. Equities research analysts forecast that Sequential Brands Group will post 0.55 earnings per share for the current year.

In other Sequential Brands Group news, Director Leonard Stewart, Jr. purchased 30,000 shares of the stock in a transaction on Tuesday, November 13th. The stock was acquired at an average price of $1.58 per share, with a total value of $47,400.00. Following the transaction, the director now directly owns 137,621 shares of the company’s stock, valued at approximately $217,441.18. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 29.80% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prescott Group Capital Management L.L.C. raised its position in Sequential Brands Group by 32.0% during the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 4,316,126 shares of the textile maker’s stock valued at $7,208,000 after purchasing an additional 1,045,278 shares during the last quarter. JPMorgan Chase & Co. raised its position in Sequential Brands Group by 70.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 144,210 shares of the textile maker’s stock valued at $241,000 after purchasing an additional 59,851 shares during the last quarter. Millennium Management LLC bought a new position in Sequential Brands Group during the 2nd quarter valued at approximately $1,118,000. Paloma Partners Management Co bought a new position in Sequential Brands Group during the 2nd quarter valued at approximately $381,000. Finally, Bank of America Corp DE raised its position 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. 45.49% of the stock is owned by institutional investors and hedge funds.

Sequential Brands Group Company Profile

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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