Concannon Wealth Management Exits Position in Sequential Brands Group Inc (SQBG)

Sequential Brands Group Inc (SQBG) : Concannon Wealth Management has sold out all of its stake in Sequential Brands Group Inc during the most recent quarter, according to the disclosure filed by the company on Apr 21, 2016 with the SEC. The investment management company has sold out 14 shares of Sequential Brands Group Inc which is valued at $88.

Sequential Brands Group Inc opened for trading at $5.85 and hit $6.13 on the upside on Wednesday, eventually ending the session at $6.03, with a gain of 2.73% or 0.16 points. The heightened volatility saw the trading volume jump to 1,49,875 shares. Company has a market cap of $373 M.

Other Hedge Funds, Including , Strs Ohio sold out all of its stake in SQBG during the most recent quarter. The investment firm sold 11,700 shares of SQBG which is valued $73,359. Simplex Trading added SQBG to its portfolio by purchasing 2,561 company shares during the most recent quarter which is valued at $15,750.Eagle Asset Management Inc reduced its stake in SQBG by selling 12,967 shares or 1.14% in the most recent quarter. The Hedge Fund company now holds 1,125,335 shares of SQBG which is valued at $6,864,544. Sequential Brands Group Inc makes up approx 0.05% of Eagle Asset Management Inc’s portfolio.Creative Planning boosted its stake in SQBG in the latest quarter, The investment management firm added 69 additional shares and now holds a total of 2,744 shares of Sequential Brands Group Inc which is valued at $16,738.

On the company’s financial health, Sequential Brands Group Inc reported $0.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Feb 24, 2016. Analyst had a consensus of $0.20. The company had revenue of $31.40 million for the quarter, compared to analysts expectations of $29.57 million. The company’s revenue was up 68.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS.

Sequential Brands Group Inc. formerly Singer Madeline Holdings Inc. owns a portfolio of consumer brands in the fashion active and lifestyle categories. The Company promotes markets and licenses these brands and intends to pursue acquisitions of additional brands or rights to brands. The Company’s brands include JOE’S which offers casual chic lifestyle brand synonymous with classic modernized wardrobe staples; Ellen Tracy; Martha Stewart; Jessica Simpson which offers footwear apparel fragrance fashion accessories maternity apparel girls’ clothing and accessories; AND1; REVO; William Rast which offers sportswear outerwear and leathers; Emeril Lagasse; Heelys which offers wheeled categories bags backpacks and back-to-school accessories; CARIBBEAN JOE; Avia which offers products ranging from footwear to serious athletes and DVS which offers footwear brand.

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