Insider Selling: Brilliant Earth Group (NASDAQ:BRLT) Director Sells $18,886.08 in Stock

Brilliant Earth Group, Inc. (NASDAQ:BRLT) Director Jennifer Noel Harris sold 18,336 shares of Brilliant Earth Group stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $1.03, for a total transaction of $18,886.08. Following the sale, the director directly owned 213,966 shares of the company’s stock, valued at $220,384.98. This trade represents a 7.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jennifer Noel Harris also recently made the following trade(s):

• On Thursday, June 18th, Jennifer Noel Harris sold 20,020 shares of Brilliant Earth Group stock. The shares were sold at an average price of $1.07, for a total transaction of $21,421.40.

Brilliant Earth Group Trading Down 5.2%

NASDAQ BRLT opened at $1.10 on Friday. Brilliant Earth Group, Inc. has a 1-year low of $1.01 and a 1-year high of $3.10. The firm’s fifty day simple moving average is $1.26 and its 200-day simple moving average is $1.45. The company has a market capitalization of $111.22 million, a PE ratio of -3.55 and a beta of 1.36.

Brilliant Earth Group (NASDAQ:BRLT) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). Brilliant Earth Group had a negative return on equity of 18.23% and a negative net margin of 0.71%.The firm had revenue of $99.50 million during the quarter, compared to analysts’ expectations of $98.16 million. As a group, analysts predict that Brilliant Earth Group, Inc. will post -0.04 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BRLT shares. Telsey Advisory Group reiterated a “market perform” rating and set a $2.00 price target on shares of Brilliant Earth Group in a report on Monday, March 2nd. Morgan Stanley lowered shares of Brilliant Earth Group to a “sector weight” rating in a research report on Friday, March 6th. TD Cowen reduced their target price on shares of Brilliant Earth Group from $1.90 to $1.60 and set a “hold” rating for the company in a research note on Friday, March 6th. Weiss Ratings raised shares of Brilliant Earth Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, June 11th. Finally, B. Riley Financial restated a “neutral” rating and set a $1.50 price target (down from $3.00) on shares of Brilliant Earth Group in a research note on Friday, March 6th. Seven analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Brilliant Earth Group currently has an average rating of “Reduce” and an average target price of $1.74.

Institutional Trading of Brilliant Earth Group

A number of institutional investors and hedge funds have recently made changes to their positions in BRLT. Potomac Capital Management Inc. bought a new stake in shares of Brilliant Earth Group during the 4th quarter worth about $422,000. Two Sigma Investments LP bought a new position in shares of Brilliant Earth Group in the 3rd quarter valued at approximately $308,000. Capital World Investors lifted its holdings in Brilliant Earth Group by 13.2% in the 3rd quarter. Capital World Investors now owns 1,052,309 shares of the company’s stock worth $2,178,000 after purchasing an additional 122,460 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Brilliant Earth Group by 13.2% in the 3rd quarter. Vanguard Group Inc. now owns 605,770 shares of the company’s stock worth $1,254,000 after purchasing an additional 70,833 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in Brilliant Earth Group during the third quarter worth approximately $84,000. Institutional investors and hedge funds own 70.41% of the company’s stock.

About Brilliant Earth Group

Brilliant Earth Group, Inc (NASDAQ: BRLT) is a specialty retailer of ethically sourced fine jewelry, with a focus on conflict-free diamonds and lab-grown gemstones. The company offers a broad range of products that include engagement rings, wedding bands, necklaces, earrings and bracelets, all crafted with a commitment to environmental sustainability and social responsibility. Customers can choose from a variety of materials such as recycled precious metals, responsibly sourced gemstones and innovative lab-grown diamonds.

Operating primarily through its e-commerce platform and a network of branded showrooms across major U.S.