Sequential Brands Group, Inc. (NASDAQ:SQBG) has been given a $12.00 target price by stock analysts at Canaccord Genuity in a report released on Wednesday. The firm presently has a “buy” rating on the stock. Canaccord Genuity’s target price indicates a potential upside of 141.45% from the company’s previous close.
A number of other brokerages have also recently weighed in on SQBG. Zacks Investment Research raised Sequential Brands Group from a “sell” rating to a “hold” rating in a research report on Wednesday, December 14th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $12.00 price target on shares of Sequential Brands Group in a research report on Tuesday, September 27th. Finally, Brean Capital reissued a “buy” rating and set a $15.00 price objective on shares of Sequential Brands Group in a research report on Wednesday, September 28th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $12.06.
Sequential Brands Group (NASDAQ:SQBG) traded down 3.22% on Wednesday, reaching $4.81. The company had a trading volume of 64,656 shares. Sequential Brands Group has a one year low of $4.10 and a one year high of $9.14. The company has a 50-day moving average of $5.11 and a 200 day moving average of $6.86. The stock’s market cap is $297.60 million.
Sequential Brands Group (NASDAQ:SQBG) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. Sequential Brands Group had a positive return on equity of 4.60% and a negative net margin of 3.93%. The company earned $42 million during the quarter, compared to analysts’ expectations of $39.92 million. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The business’s quarterly revenue was up 82.6% compared to the same quarter last year. On average, equities research analysts predict that Sequential Brands Group will post $0.37 EPS for the current year.
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In other Sequential Brands Group news, Director Al Gossett acquired 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was acquired at an average price of $4.46 per share, with a total value of $446,000.00. Following the transaction, the director now owns 409,669 shares of the company’s stock, valued at $1,827,123.74. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Leonard Stewart, Jr. acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The shares were acquired at an average cost of $4.60 per share, with a total value of $46,000.00. Following the transaction, the director now directly owns 87,343 shares in the company, valued at approximately $401,777.80. The disclosure for this purchase can be found here. Corporate insiders own 27.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Gotham Asset Management LLC acquired a new position in Sequential Brands Group during the third quarter valued at $165,000. The Manufacturers Life Insurance Company acquired a new position in Sequential Brands Group during the third quarter valued at $214,000. Morgan Stanley boosted its position in Sequential Brands Group by 28.8% in the third quarter. Morgan Stanley now owns 30,122 shares of the company’s stock valued at $241,000 after buying an additional 6,733 shares in the last quarter. Argent Capital Management LLC boosted its position in Sequential Brands Group by 138.1% in the third quarter. Argent Capital Management LLC now owns 248,625 shares of the company’s stock valued at $1,989,000 after buying an additional 144,225 shares in the last quarter. Finally, Emerald Acquisition Ltd. boosted its position in Sequential Brands Group by 4.4% in the third quarter. Emerald Acquisition Ltd. now owns 632,132 shares of the company’s stock valued at $5,057,000 after buying an additional 26,410 shares in the last quarter. 57.86% of the stock is owned by institutional investors and hedge funds.
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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