Sequential Brands Group Inc (NASDAQ:SQBG) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 2,842,400 shares, a decrease of 7.3% from the July 31st total of 3,065,400 shares. Based on an average daily volume of 134,700 shares, the short-interest ratio is presently 21.1 days. Currently, 7.3% of the company’s shares are sold short.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Prescott Group Capital Management L.L.C. grew its stake in shares of Sequential Brands Group by 6.1% during the second 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 buying an additional 548,562 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Sequential Brands Group by 15.5% during the second quarter. Vanguard Group Inc. now owns 1,497,106 shares of the textile maker’s stock valued at $824,000 after buying an additional 200,453 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan grew its stake in shares of Sequential Brands Group by 320.0% during the second quarter. NJ State Employees Deferred Compensation Plan now owns 210,000 shares of the textile maker’s stock valued at $116,000 after buying an additional 160,000 shares during the last quarter. 38.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the company. ValuEngine downgraded Sequential Brands Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research downgraded Sequential Brands Group from a “hold” rating to a “strong sell” rating in a research report on Saturday, September 7th.
SQBG stock traded down $0.03 during midday trading on Friday, reaching $0.30. 67,238 shares of the company traded hands, compared to its average volume of 111,074. Sequential Brands Group has a 52-week low of $0.25 and a 52-week high of $2.28. 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 has a 50 day moving average of $0.34 and a 200-day moving average of $0.77. The firm has a market capitalization of $17.65 million, a price-to-earnings ratio of 0.91, a P/E/G ratio of 0.36 and a beta of 0.64.
Sequential Brands Group (NASDAQ:SQBG) last released its earnings results on Friday, August 9th. The textile maker reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.16). The business had revenue of $26.42 million for the quarter, compared to the consensus estimate of $39.04 million. Sequential Brands Group had a negative net margin of 92.66% and a positive return on equity of 2.52%. Research analysts anticipate that Sequential Brands Group will post 0.05 earnings per share for the current year.
Sequential Brands Group Company Profile
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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