Hillsdale Investment Management Inc. Sells 345,577 Shares of Solo Brands, Inc. (NYSE:DTC)

Hillsdale Investment Management Inc. reduced its holdings in shares of Solo Brands, Inc. (NYSE:DTC) by 39.8% in the first quarter, HoldingsChannel.com reports. The fund owned 522,364 shares of the company’s stock after selling 345,577 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Solo Brands were worth $1,134,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Parkside Financial Bank & Trust bought a new stake in shares of Solo Brands during the 4th quarter valued at about $25,000. Victory Capital Management Inc. lifted its stake in Solo Brands by 23.7% in the fourth quarter. Victory Capital Management Inc. now owns 131,460 shares of the company’s stock valued at $810,000 after buying an additional 25,194 shares during the period. JFG Wealth Management LLC bought a new position in shares of Solo Brands during the 4th quarter worth approximately $154,000. Boston Partners acquired a new stake in shares of Solo Brands during the 4th quarter worth approximately $13,159,000. Finally, Janney Montgomery Scott LLC grew its position in shares of Solo Brands by 47.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 105,115 shares of the company’s stock worth $648,000 after buying an additional 33,638 shares during the period. 84.48% of the stock is owned by institutional investors.

Insider Transactions at Solo Brands

In related news, CEO Christopher T. Metz purchased 49,310 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was acquired at an average price of $1.97 per share, for a total transaction of $97,140.70. Following the completion of the acquisition, the chief executive officer now owns 250,000 shares of the company’s stock, valued at approximately $492,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Christopher T. Metz bought 52,366 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were purchased at an average cost of $1.94 per share, for a total transaction of $101,590.04. Following the completion of the purchase, the chief executive officer now directly owns 152,366 shares in the company, valued at $295,590.04. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher T. Metz acquired 49,310 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average price of $1.97 per share, for a total transaction of $97,140.70. Following the purchase, the chief executive officer now owns 250,000 shares of the company’s stock, valued at approximately $492,500. The disclosure for this purchase can be found here. 0.73% of the stock is currently owned by insiders.

Solo Brands Stock Up 2.6 %

Shares of Solo Brands stock traded up $0.06 during trading on Monday, reaching $2.41. 253,397 shares of the company traded hands, compared to its average volume of 690,311. The firm has a market capitalization of $219.96 million, a PE ratio of -1.21, a P/E/G ratio of 0.58 and a beta of 2.62. Solo Brands, Inc. has a 1-year low of $1.74 and a 1-year high of $6.67. The company has a 50 day moving average price of $2.08 and a 200-day moving average price of $2.35. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.80 and a quick ratio of 1.16.

Solo Brands (NYSE:DTC) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Solo Brands had a positive return on equity of 6.99% and a negative net margin of 23.52%. The business had revenue of $85.32 million for the quarter, compared to the consensus estimate of $80.48 million. During the same period in the prior year, the business earned $0.09 EPS. As a group, equities research analysts expect that Solo Brands, Inc. will post 0.35 earnings per share for the current fiscal year.

About Solo Brands

Solo Brands, Inc operates a direct-to-consumer platform that offers outdoor and lifestyle branded products in the United States. The company provides camp stoves under the Solo Stove Lite brand name; fire pits under the Solo Stove brand name; kayaks under the Oru brand name; paddle boards under the ISLE brand name; and storage solutions for fire pits, firewood, and other accessories.