Wasatch Advisors LP Acquires 1,123,157 Shares of BRC Inc. (NYSE:BRCC)

Wasatch Advisors LP raised its holdings in BRC Inc. (NYSE:BRCC) by 334.0% in the 1st quarter, HoldingsChannel reports. The firm owned 1,459,418 shares of the company’s stock after purchasing an additional 1,123,157 shares during the quarter. Wasatch Advisors LP’s holdings in BRC were worth $6,246,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its position in shares of BRC by 106.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,415 shares of the company’s stock worth $27,000 after acquiring an additional 3,831 shares during the last quarter. Allworth Financial LP raised its position in shares of BRC by 83.6% during the fourth quarter. Allworth Financial LP now owns 9,776 shares of the company’s stock worth $35,000 after acquiring an additional 4,450 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of BRC during the fourth quarter worth $37,000. Intrinsic Edge Capital Management LLC bought a new stake in shares of BRC during the fourth quarter worth $50,000. Finally, Alhambra Investment Management LLC grew its stake in shares of BRC by 21.8% during the fourth quarter. Alhambra Investment Management LLC now owns 16,750 shares of the company’s stock worth $61,000 after purchasing an additional 3,000 shares during the period. Institutional investors own 16.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BRCC shares. Needham & Company LLC reaffirmed a “hold” rating on shares of BRC in a research note on Thursday, May 16th. Telsey Advisory Group reissued an “outperform” rating and issued a $8.00 target price on shares of BRC in a research note on Monday, May 6th. Tigress Financial reissued a “buy” rating and issued a $11.00 target price on shares of BRC in a research note on Wednesday, May 22nd. Finally, Roth Mkm reissued a “buy” rating and issued a $7.00 target price (up from $6.00) on shares of BRC in a research note on Friday, May 10th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

BRC Stock Down 2.6 %

Shares of BRCC stock traded down $0.16 on Tuesday, hitting $5.95. 759,668 shares of the stock were exchanged, compared to its average volume of 829,644. The company has a current ratio of 1.07, a quick ratio of 0.51 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $1.26 billion, a P/E ratio of -33.05 and a beta of 1.22. The business has a 50-day moving average of $5.52 and a 200 day moving average of $4.63. BRC Inc. has a fifty-two week low of $2.51 and a fifty-two week high of $7.14.

BRC (NYSE:BRCC) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.04. The company had revenue of $98.39 million during the quarter, compared to analysts’ expectations of $97.78 million. BRC had a positive return on equity of 14.15% and a negative net margin of 2.78%. Equities analysts anticipate that BRC Inc. will post 0.03 EPS for the current year.

BRC Profile

BRC Inc, through its subsidiaries, purchases, roasts, and sells coffee, coffee accessories, and branded apparel in the United States. The company also produces media content, as well as sells coffee brewing equipment, and outdoor and lifestyle gear. It supports active military, veterans, and first responders.