Sequential Brands Group (NASDAQ:SQBG) Shares Down 16.6%

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Sequential Brands Group Inc (NASDAQ:SQBG)’s stock price was down 16.6% during mid-day trading on Thursday . The company traded as low as $0.27 and last traded at $0.28, approximately 118,776 shares traded hands during mid-day trading. A decline of 95% from the average daily volume of 2,291,615 shares. The stock had previously closed at $0.34.

Separately, ValuEngine raised Sequential Brands Group from a “strong sell” rating to a “sell” rating in a report on Tuesday.

The company has a market capitalization of $11.71 million, a price-to-earnings ratio of -0.18 and a beta of 0.79. The stock has a fifty day simple moving average of $0.20 and a 200-day simple moving average of $0.27. The company has a debt-to-equity ratio of 6.85, a current ratio of 1.41 and a quick ratio of 1.41.

Sequential Brands Group (NASDAQ:SQBG) last announced its quarterly earnings results on Friday, May 15th. The textile maker reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.26). The company had revenue of $20.23 million during the quarter. Sequential Brands Group had a negative net margin of 125.33% and a negative return on equity of 14.17%.

In other news, major shareholder Prescott Group Capital Managem sold 4,377,078 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $0.20, for a total transaction of $875,415.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 29.10% of the company’s stock.

A hedge fund recently raised its stake in Sequential Brands Group stock. Geode Capital Management LLC lifted its holdings in shares of Sequential Brands Group Inc (NASDAQ:SQBG) by 12.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 344,460 shares of the textile maker’s stock after buying an additional 37,829 shares during the quarter. Geode Capital Management LLC owned approximately 0.52% of Sequential Brands Group worth $117,000 as of its most recent SEC filing. Institutional investors own 28.81% of the company’s stock.

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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