Sequential Brands Group Inc (NASDAQ:SQBG) was the recipient of a significant increase in short interest in July. As of July 15th, there was short interest totalling 3,390,000 shares, an increase of 10.8% from the June 30th total of 3,060,000 shares. Based on an average trading volume of 5,340,000 shares, the days-to-cover ratio is presently 0.6 days. Currently, 7.3% of the company’s stock are short sold.
In related news, major shareholder Prescott Group Capital Managem sold 4,377,078 shares of Sequential Brands Group stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $0.20, for a total value of $875,415.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 28.50% of the stock is owned by company insiders.
A hedge fund recently raised its stake in Sequential Brands Group stock. Geode Capital Management LLC boosted its position in Sequential Brands Group Inc (NASDAQ:SQBG) by 12.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 344,460 shares of the textile maker’s stock after buying an additional 37,829 shares during the period. 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 28.80% of the company’s stock.
Sequential Brands Group stock opened at $6.04 on Friday. 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 has a fifty-two week low of $4.11 and a fifty-two week high of $24.80. The stock has a 50-day simple moving average of $0.70 and a 200-day simple moving average of $0.35.
Sequential Brands Group (NASDAQ:SQBG) last issued its quarterly earnings data on Friday, May 15th. The textile maker reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.26). The firm 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%.
Separately, ValuEngine upgraded Sequential Brands Group from a “sell” rating to a “hold” rating in a research note on Tuesday, July 28th.
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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