Insider Selling: BRC Inc. (NYSE:BRCC) Director Sells 3,000,000 Shares of Stock

BRC Inc. (NYSE:BRCC) Director Evan Hafer sold 3,000,000 shares of BRC stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total transaction of $9,600,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

BRC Price Performance

Shares of NYSE BRCC traded down $0.16 during mid-day trading on Thursday, reaching $3.24. The company had a trading volume of 1,708,940 shares, compared to its average volume of 937,502. The company has a current ratio of 1.07, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. BRC Inc. has a 1-year low of $2.51 and a 1-year high of $7.14. The stock has a market cap of $688.56 million, a PE ratio of -18.86 and a beta of 1.18. The company has a 50-day moving average price of $4.88 and a two-hundred day moving average price of $4.96.

BRC (NYSE:BRCC) last released its earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $89.02 million during the quarter, compared to analysts’ expectations of $101.54 million. BRC had a negative net margin of 1.88% and a positive return on equity of 17.53%. During the same quarter last year, the company earned ($0.03) earnings per share. On average, equities analysts anticipate that BRC Inc. will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Wasatch Advisors LP lifted its stake in shares of BRC by 334.0% during the 1st quarter. Wasatch Advisors LP now owns 1,459,418 shares of the company’s stock worth $6,246,000 after buying an additional 1,123,157 shares during the last quarter. Blair William & Co. IL increased its stake in BRC by 370.2% during the 2nd quarter. Blair William & Co. IL now owns 802,710 shares of the company’s stock worth $4,921,000 after acquiring an additional 632,000 shares during the period. Maso Capital Partners Ltd acquired a new stake in shares of BRC during the 1st quarter worth approximately $2,140,000. Marshall Wace LLP increased its stake in shares of BRC by 76.4% in the 2nd quarter. Marshall Wace LLP now owns 812,373 shares of the company’s stock valued at $4,980,000 after purchasing an additional 351,757 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in BRC by 131.1% during the 2nd quarter. Renaissance Technologies LLC now owns 419,300 shares of the company’s stock worth $2,570,000 after purchasing an additional 237,869 shares in the last quarter. 16.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BRCC. Roth Capital lowered BRC from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. DA Davidson reiterated a “buy” rating and issued a $5.50 price target on shares of BRC in a report on Friday, September 6th. Telsey Advisory Group lowered their target price on shares of BRC from $8.00 to $6.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Needham & Company LLC reissued a “hold” rating on shares of BRC in a research note on Thursday, May 16th. Finally, Roth Mkm lowered BRC from a “buy” rating to a “neutral” rating and lowered their target price for the company from $8.00 to $4.00 in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, BRC currently has an average rating of “Moderate Buy” and an average price target of $6.63.

About BRC

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.