Brilliant Earth Group (NASDAQ:BRLT) Downgraded by William Blair to Market Perform

William Blair downgraded shares of Brilliant Earth Group (NASDAQ:BRLT) from an outperform rating to a market perform rating in a research note released on Friday morning, MarketBeat Ratings reports.

A number of other research analysts also recently issued reports on BRLT. KeyCorp cut their price target on Brilliant Earth Group from $6.00 to $3.00 and set an overweight rating on the stock in a report on Monday, April 29th. Telsey Advisory Group restated an outperform rating and set a $4.00 target price on shares of Brilliant Earth Group in a research note on Friday, May 10th.

Brilliant Earth Group Stock Down 13.3 %

Shares of NASDAQ:BRLT traded down $0.33 on Friday, reaching $2.15. The company had a trading volume of 170,786 shares, compared to its average volume of 42,629. Brilliant Earth Group has a 52-week low of $2.02 and a 52-week high of $4.07. The firm’s 50 day simple moving average is $2.31 and its 200-day simple moving average is $2.63. The firm has a market capitalization of $210.40 million, a PE ratio of 35.83 and a beta of 1.56. The company has a current ratio of 2.88, a quick ratio of 2.31 and a debt-to-equity ratio of 0.54.

Brilliant Earth Group (NASDAQ:BRLT) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Brilliant Earth Group had a return on equity of 7.32% and a net margin of 0.55%. The business had revenue of $97.34 million for the quarter, compared to the consensus estimate of $97.73 million. During the same period last year, the business posted $0.01 EPS. As a group, analysts expect that Brilliant Earth Group will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Brilliant Earth Group news, Director Jennifer Noel Harris sold 15,176 shares of Brilliant Earth Group stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $2.19, for a total transaction of $33,235.44. Following the completion of the sale, the director now owns 42,844 shares of the company’s stock, valued at approximately $93,828.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 84.70% of the stock is owned by company insiders.

Institutional Trading of Brilliant Earth Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRLT. Avestar Capital LLC lifted its position in Brilliant Earth Group by 25.0% during the 4th quarter. Avestar Capital LLC now owns 25,000 shares of the company’s stock worth $93,000 after acquiring an additional 5,000 shares during the period. Virtu Financial LLC acquired a new position in shares of Brilliant Earth Group in the 1st quarter valued at about $56,000. Privium Fund Management UK Ltd acquired a new position in shares of Brilliant Earth Group in the 2nd quarter valued at about $28,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Brilliant Earth Group by 9.2% in the 2nd quarter. Renaissance Technologies LLC now owns 118,200 shares of the company’s stock valued at $262,000 after buying an additional 10,000 shares during the period. Institutional investors and hedge funds own 70.41% of the company’s stock.

Brilliant Earth Group Company Profile

Brilliant Earth Group, Inc designs, procures, and sells diamonds, gemstones, and jewelry in the United States and internationally. Its product assortment and merchandise include a collection of diamond engagement rings, wedding and anniversary rings, gemstone rings, and fine jewelry. The company sells directly to consumers through its omnichannel sales platform, including e-commerce and showrooms.