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 research report released on Tuesday morning. Zacks Investment Research currently has $4.00 target price 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. “

SQBG has been the subject of a number of other reports. Canaccord Genuity set a $6.00 target price on shares of Sequential Brands Group and gave the stock a buy rating in a report on Wednesday, March 22nd. Roth Capital set a $4.00 target price on shares of Sequential Brands Group and gave the stock a buy rating in a report on Monday, March 6th. Finally, Wunderlich increased their target price on shares of Sequential Brands Group from $9.00 to $18.00 and gave the stock a buy rating in a report on Friday, May 5th. Six analysts have rated the stock with a buy rating, The company presently has an average rating of Buy and a consensus price target of $9.83.

Sequential Brands Group (NASDAQ:SQBG) traded down 1.87% on Tuesday, hitting $3.14. The stock had a trading volume of 63,241 shares. Sequential Brands Group has a 52-week low of $3.07 and a 52-week high of $9.14. The stock’s 50-day moving average is $3.57 and its 200-day moving average is $4.34. The company’s market cap is $197.14 million.

Sequential Brands Group (NASDAQ:SQBG) last posted 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 during the quarter, compared to analyst estimates of $37.08 million. Sequential Brands Group had a negative net margin of 3.93% and a positive return on equity of 4.60%. Sequential Brands Group’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share. Analysts expect that Sequential Brands Group will post $0.52 earnings per share for the current year.

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

Large investors have recently made changes to their positions in the stock. Mycio Wealth Partners LLC purchased a new stake in shares of Sequential Brands Group during the first quarter valued at $100,000. Wells Fargo & Company MN increased its stake in shares of 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. Brandes Investment Partners LP purchased a new stake in shares of Sequential Brands Group during the first quarter valued at $124,000. Teachers Advisors LLC increased its stake in shares of Sequential Brands Group by 16.3% in the fourth quarter. Teachers Advisors LLC now owns 69,454 shares of the textile maker’s stock valued at $325,000 after buying an additional 9,754 shares during the period. Finally, Ativo Capital Management LLC increased its stake in shares of Sequential Brands Group by 8.1% in the fourth quarter. Ativo Capital Management LLC now owns 130,031 shares of the textile maker’s stock valued at $609,000 after buying an additional 9,700 shares during the period. 59.07% of the stock is owned by institutional investors.

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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