Sequential Brands Group (NASDAQ:SQBG) Shares Up 5.6%

Sequential Brands Group Inc (NASDAQ:SQBG)’s share price shot up 5.6% on Wednesday . The company traded as high as $0.29 and last traded at $0.29, 561,872 shares changed hands during mid-day trading. An increase of 66% from the average session volume of 338,456 shares. The stock had previously closed at $0.27.

A number of research firms recently weighed in on SQBG. ValuEngine lowered shares of Sequential Brands Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research lowered shares of Sequential Brands Group from a “hold” rating to a “strong sell” rating in a research note on Saturday, September 7th.

The firm has a market capitalization of $17.65 million, a PE ratio of 0.92, a price-to-earnings-growth ratio of 0.36 and a beta of 0.64. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.26 and a current ratio of 1.26. The business’s 50 day moving average is $0.34 and its two-hundred day moving average is $0.76.

Sequential Brands Group (NASDAQ:SQBG) last released its quarterly earnings data on Friday, August 9th. The textile maker reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.16). Sequential Brands Group had a negative net margin of 92.66% and a positive return on equity of 2.52%. The business had revenue of $26.42 million during the quarter, compared to analysts’ expectations of $39.04 million. As a group, equities research analysts predict that Sequential Brands Group Inc will post 0.05 EPS for the current year.

Large investors have recently made changes to their positions in the business. NJ State Employees Deferred Compensation Plan boosted its holdings in Sequential Brands Group by 320.0% in the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 210,000 shares of the textile maker’s stock valued at $116,000 after purchasing an additional 160,000 shares during the period. Vanguard Group Inc. boosted its holdings in Sequential Brands Group by 15.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,497,106 shares of the textile maker’s stock valued at $824,000 after purchasing an additional 200,453 shares during the period. Finally, Prescott Group Capital Management L.L.C. boosted its holdings in Sequential Brands Group by 6.1% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 9,575,156 shares of the textile maker’s stock valued at $5,266,000 after purchasing an additional 548,562 shares during the period. 38.51% of the stock is owned by hedge funds and other institutional investors.

About Sequential Brands Group (NASDAQ:SQBG)

Sequential Brands Group, Inc owns a portfolio of consumer brands in the home, active, and fashion categories in the United States and internationally. It offers products in the apparel, footwear, eyewear, fashion accessories, home goods, food, wine, and media related assets, such as magazines, books, and other print and digital content.

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