Key Points
- Director Kathryn Dickson purchased 50,000 BRC shares at an average price of $0.85, spending $42,500 and increasing her stake by 10.58% to 522,690 shares.
- BRC shares opened at $0.81, while the company is scheduled to complete a 1-for-10 reverse stock split after the August 21 market close, effective before trading on August 24.
- Analyst sentiment remains generally positive, with three Buy ratings and one Sell rating producing a “Moderate Buy” consensus and a $2.25 average price target; institutional investors own 16.29% of the stock.
BRC Inc. (NYSE:BRCC - Get Free Report) Director Kathryn Dickson bought 50,000 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The shares were bought at an average price of $0.85 per share, with a total value of $42,500.00. Following the transaction, the director owned 522,690 shares of the company's stock, valued at $444,286.50. The trade was a 10.58% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
BRC Stock Down 1.1%
NYSE BRCC opened at $0.81 on Thursday. BRC Inc. has a one year low of $0.60 and a one year high of $1.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.80 and a current ratio of 1.42. The stock has a 50 day moving average price of $1.12 and a 200-day moving average price of $1.06. The company has a market capitalization of $203.49 million, a P/E ratio of -27.10 and a beta of 1.25.
Shares of BRC are set to reverse split before the market opens on Monday, August 24th. The 1-10 reverse split was announced on Monday, August 10th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, August 21st.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC grew its stake in BRC by 3.6% during the 2nd quarter. Cerity Partners LLC now owns 256,827 shares of the company's stock valued at $336,000 after purchasing an additional 8,930 shares during the last quarter. JPMorgan Chase & Co. grew its position in BRC by 30.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,955 shares of the company's stock worth $61,000 after purchasing an additional 9,102 shares during the period. Alliancebernstein L.P. boosted its stake in shares of BRC by 9.3% in the third quarter. Alliancebernstein L.P. now owns 107,900 shares of the company's stock worth $168,000 after buying an additional 9,200 shares during the last quarter. Virtu Financial LLC lifted its holdings in BRC by 82.2% in the third quarter. Virtu Financial LLC now owns 21,037 shares of the company's stock valued at $33,000 after acquiring an additional 9,492 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of BRC by 9.2% during the 1st quarter. Bank of America Corp DE now owns 142,209 shares of the company's stock valued at $110,000 after purchasing an additional 11,933 shares in the last quarter. Hedge funds and other institutional investors own 16.29% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on BRCC. Craig Hallum initiated coverage on shares of BRC in a research report on Monday, August 3rd. They set a "buy" rating and a $1.75 target price on the stock. Wall Street Zen upgraded BRC from a "hold" rating to a "buy" rating in a research note on Saturday, May 23rd. Weiss Ratings lowered shares of BRC from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, August 4th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $2.50 price target on shares of BRC in a research report on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, BRC presently has a consensus rating of "Moderate Buy" and a consensus price target of $2.25.
Get Our Latest Stock Analysis on BRC
About BRC
(
Get Free Report)
Black Rifle Coffee Company, Inc is a veteran-owned specialty coffee roaster and retailer that offers a range of coffee products, merchandise and subscription services. The company sources, roasts and distributes its own blends and single-origin coffees, as well as ready-to-drink beverages and branded apparel. Its product lineup includes whole-bean and ground coffees, cold brew concentrates, K-cup pods and limited-edition small-batch offerings designed to appeal to active lifestyle and patriotic consumers.
Founded in 2014 by U.S.
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