State of New Jersey Common Pension Fund D raised its stake in shares of Sequential Brands Group, Inc. (NASDAQ:SQBG) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 1,706,200 shares of the textile maker’s stock after buying an additional 50,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Sequential Brands Group were worth $6,808,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the stock. Prescott Group Capital Management L.L.C. raised its stake in shares of Sequential Brands Group by 2.8% in the second quarter. Prescott Group Capital Management L.L.C. now owns 1,876,134 shares of the textile maker’s stock valued at $7,486,000 after buying an additional 51,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Sequential Brands Group by 1.1% in the first quarter. Vanguard Group Inc. now owns 1,564,777 shares of the textile maker’s stock valued at $6,088,000 after buying an additional 16,649 shares during the period. Tocqueville Asset Management L.P. raised its stake in shares of Sequential Brands Group by 52.4% in the first quarter. Tocqueville Asset Management L.P. now owns 1,487,407 shares of the textile maker’s stock valued at $5,786,000 after buying an additional 511,135 shares during the period. Boston Partners raised its stake in shares of Sequential Brands Group by 12.9% in the first quarter. Boston Partners now owns 1,311,170 shares of the textile maker’s stock valued at $5,100,000 after buying an additional 149,780 shares during the period. Finally, State Street Corp raised its stake in shares of Sequential Brands Group by 4.8% in the fourth quarter. State Street Corp now owns 605,865 shares of the textile maker’s stock valued at $2,834,000 after buying an additional 28,007 shares during the period. 54.95% of the stock is owned by hedge funds and other institutional investors.

Shares of Sequential Brands Group, Inc. (SQBG) opened at 2.74 on Friday. The stock has a market cap of $172.41 million, a price-to-earnings ratio of 101.48 and a beta of 0.64. The company has a 50-day moving average price of $3.30 and a 200 day moving average price of $3.60. Sequential Brands Group, Inc. has a one year low of $2.63 and a one year high of $8.49.

Sequential Brands Group (NASDAQ:SQBG) last posted its quarterly earnings data on Thursday, July 27th. The textile maker reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $42.10 million during the quarter, compared to analysts’ expectations of $39.15 million. Sequential Brands Group had a return on equity of 1.29% and a net margin of 0.99%. Sequential Brands Group’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 earnings per share. Equities research analysts expect that Sequential Brands Group, Inc. will post $0.52 earnings per share for the current year.

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SQBG has been the subject of several recent research reports. Canaccord Genuity set a $6.00 price objective on Sequential Brands Group and gave the stock a “buy” rating in a report on Thursday, May 4th. Wunderlich lifted their price objective on Sequential Brands Group from $9.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Zacks Investment Research raised Sequential Brands Group from a “sell” rating to a “hold” rating in a report on Saturday, May 6th. ValuEngine lowered Sequential Brands Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, CL King lowered Sequential Brands Group from a “buy” rating to a “neutral” rating in a report on Wednesday, June 28th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $9.06.

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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Institutional Ownership by Quarter for Sequential Brands Group (NASDAQ:SQBG)

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