Zacks Investment Research Downgrades Sequential Brands Group (SQBG) to Sell
Zacks Investment Research cut shares of Sequential Brands Group (NASDAQ:SQBG) from a hold rating to a sell rating in a research report released on Friday morning.
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 topic of several other research reports. Roth Capital set a $3.00 price target on shares of Sequential Brands Group and gave the company a buy rating in a research report on Monday, October 23rd. Canaccord Genuity cut shares of Sequential Brands Group from a buy rating to a hold rating and reduced their price target for the company from $6.00 to $1.50 in a research report on Friday, November 10th. ValuEngine cut shares of Sequential Brands Group from a buy rating to a hold rating in a research report on Sunday, December 31st. Finally, B. Riley reiterated a buy rating and set a $7.00 price target on shares of Sequential Brands Group in a research report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $6.92.
In other Sequential Brands Group news, Director Aaron P. Hollander acquired 20,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were acquired at an average price of $1.72 per share, for a total transaction of $34,400.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Tcp Wr Acquisition Llc acquired 194,464 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was acquired at an average price of $1.64 per share, for a total transaction of $318,920.96. The disclosure for this purchase can be found here. Insiders have purchased 309,500 shares of company stock worth $512,441 in the last quarter. 27.30% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in SQBG. Goldman Sachs Group Inc. grew its holdings in Sequential Brands Group by 1,114.2% in the second quarter. Goldman Sachs Group Inc. now owns 2,363,853 shares of the textile maker’s stock worth $9,432,000 after purchasing an additional 2,169,169 shares during the period. Prescott Group Capital Management L.L.C. grew its holdings in Sequential Brands Group by 57.1% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 2,831,035 shares of the textile maker’s stock worth $5,039,000 after purchasing an additional 1,028,739 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Sequential Brands Group in the fourth quarter worth about $355,000. Emerald Advisers Inc. PA grew its holdings in Sequential Brands Group by 14.5% in the third quarter. Emerald Advisers Inc. PA now owns 1,362,730 shares of the textile maker’s stock worth $4,075,000 after purchasing an additional 172,382 shares during the period. Finally, Financial & Investment Management Group Ltd. grew its holdings in Sequential Brands Group by 14.0% in the fourth quarter. Financial & Investment Management Group Ltd. now owns 808,229 shares of the textile maker’s stock worth $1,439,000 after purchasing an additional 99,529 shares during the period. Institutional investors and hedge funds own 46.80% of the company’s stock.
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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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