BlackRock Inc. Has $1.05 Million Stake in Sequential Brands Group Inc (SQBG)

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BlackRock Inc. cut its stake in Sequential Brands Group Inc (NASDAQ:SQBG) by 76.4% during the second quarter, reports. The fund owned 530,745 shares of the textile maker’s stock after selling 1,722,414 shares during the quarter. BlackRock Inc.’s holdings in Sequential Brands Group were worth $1,046,000 as of its most recent SEC filing.

Separately, LMR Partners LLP purchased a new position in shares of Sequential Brands Group in the 2nd quarter valued at $257,000. Hedge funds and other institutional investors own 45.49% of the company’s stock.

In other Sequential Brands Group news, Director Leonard Stewart, Jr. bought 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The shares were purchased at an average cost of $1.58 per share, for a total transaction of $47,400.00. Following the purchase, the director now directly owns 137,621 shares in the company, valued at $217,441.18. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 29.80% of the stock is owned by insiders.

Shares of SQBG stock opened at $1.03 on Friday. Sequential Brands Group Inc has a 1-year low of $0.91 and a 1-year high of $2.49. The company has a current ratio of 1.64, a quick ratio of 1.66 and a debt-to-equity ratio of 1.69. The firm has a market cap of $64.13 million, a P/E ratio of 2.34, a price-to-earnings-growth ratio of 0.18 and a beta of 0.15.

Sequential Brands Group (NASDAQ:SQBG) last announced its earnings results on Wednesday, November 7th. The textile maker reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.10). Sequential Brands Group had a positive return on equity of 6.02% and a negative net margin of 101.91%. The business had revenue of $40.77 million for the quarter, compared to analysts’ expectations of $44.50 million. On average, equities research analysts forecast that Sequential Brands Group Inc will post 0.38 earnings per share for the current fiscal year.

SQBG has been the topic of a number of analyst reports. Roth Capital set a $2.00 price target on Sequential Brands Group and gave the company a “hold” rating in a report on Wednesday, August 8th. ValuEngine downgraded Sequential Brands Group from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. Finally, Zacks Investment Research downgraded Sequential Brands Group from a “hold” rating to a “sell” rating in a report on Saturday, November 10th.

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Sequential Brands Group 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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Institutional Ownership by Quarter for Sequential Brands Group (NASDAQ:SQBG)

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