Zacks Investment Research Upgrades Sequential Brands Group (SQBG) to “Hold”

Zacks Investment Research upgraded shares of Sequential Brands Group (NASDAQ:SQBG) from a sell rating to a hold rating in a research note released on Thursday 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 a number of other research reports. Roth Capital set a $3.00 price target on Sequential Brands Group and gave the stock a buy rating in a research report on Monday, October 23rd. Canaccord Genuity downgraded Sequential Brands Group from a buy rating to a hold rating and dropped their price target for the stock from $6.00 to $1.50 in a research report on Friday, November 10th. ValuEngine downgraded Sequential Brands Group from a buy rating to a hold rating in a research report on Sunday, December 31st. Finally, B. Riley reissued a buy rating and set a $7.00 price target on shares of Sequential Brands Group in a research report on Monday, November 6th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $6.92.

Sequential Brands Group (NASDAQ:SQBG) opened at $1.73 on Thursday. Sequential Brands Group has a 12-month low of $1.36 and a 12-month high of $4.21. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a market capitalization of $109.25, a price-to-earnings ratio of -4.55, a PEG ratio of 0.21 and a beta of -0.03.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. 683 Capital Management LLC lifted its stake in shares of Sequential Brands Group by 8.9% during the 4th quarter. 683 Capital Management LLC now owns 3,351,400 shares of the textile maker’s stock worth $5,965,000 after purchasing an additional 273,221 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in shares of Sequential Brands Group by 41.8% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 144,540 shares of the textile maker’s stock worth $257,000 after purchasing an additional 42,620 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Sequential Brands Group by 140.4% during the 4th quarter. Deutsche Bank AG now owns 88,996 shares of the textile maker’s stock worth $157,000 after purchasing an additional 51,976 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Sequential Brands Group during the 4th quarter worth $355,000. Finally, Prescott Group Capital Management L.L.C. lifted its stake in shares of Sequential Brands Group by 57.1% during the 4th 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 last quarter. Hedge funds and other institutional investors own 46.80% of the company’s stock.

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About Sequential Brands Group

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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