Evan Hafer Sells 1,000,000 Shares of BRC Inc. (NYSE:BRCC) Stock

BRC Inc. (NYSE:BRCC) Director Evan Hafer sold 1,000,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $3.17, for a total value of $3,170,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Evan Hafer also recently made the following trade(s):

• On Wednesday, September 11th, Evan Hafer sold 3,000,000 shares of BRC stock. The stock was sold at an average price of $3.20, for a total value of $9,600,000.00.

BRC Stock Performance

Shares of BRC stock opened at $3.66 on Wednesday. The firm’s fifty day simple moving average is $4.62 and its 200-day simple moving average is $4.94. BRC Inc. has a 12 month low of $2.51 and a 12 month high of $7.14. The stock has a market capitalization of $777.82 million, a price-to-earnings ratio of -20.33 and a beta of 1.18. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.07 and a quick ratio of 0.59.

BRC (NYSE:BRCC) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). BRC had a negative net margin of 1.88% and a positive return on equity of 17.53%. The company had revenue of $89.02 million for the quarter, compared to analyst estimates of $101.54 million. During the same period in the previous year, the business posted ($0.03) earnings per share. As a group, equities analysts forecast that BRC Inc. will post -0.02 earnings per share for the current year.

Institutional Trading of BRC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its stake in shares of BRC by 32.9% during the second quarter. The Manufacturers Life Insurance Company now owns 20,464 shares of the company’s stock worth $125,000 after purchasing an additional 5,064 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in BRC in the 2nd quarter valued at $335,000. Squarepoint Ops LLC lifted its stake in shares of BRC by 55.8% in the 2nd quarter. Squarepoint Ops LLC now owns 41,375 shares of the company’s stock worth $254,000 after acquiring an additional 14,824 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of BRC in the second quarter valued at about $1,084,000. Finally, Marshall Wace LLP increased its stake in shares of BRC by 76.4% during the second quarter. Marshall Wace LLP now owns 812,373 shares of the company’s stock worth $4,980,000 after acquiring an additional 351,757 shares during the period. 16.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BRCC has been the subject of several recent analyst reports. Telsey Advisory Group decreased their target price on BRC from $8.00 to $6.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Tigress Financial restated a “buy” rating and issued a $11.00 target price on shares of BRC in a report on Wednesday, May 22nd. Roth Mkm downgraded shares of BRC from a “buy” rating to a “neutral” rating and dropped their target price for the company from $8.00 to $4.00 in a research report on Friday, August 9th. Roth Capital cut shares of BRC from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, DA Davidson reaffirmed a “buy” rating and set a $5.50 price objective on shares of BRC in a report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, BRC currently has an average rating of “Moderate Buy” and a consensus 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.