GSA Capital Partners LLP Makes New $1.06 Million Investment in Solo Brands, Inc. (NYSE:DTC)

GSA Capital Partners LLP bought a new stake in Solo Brands, Inc. (NYSE:DTC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 488,155 shares of the company’s stock, valued at approximately $1,059,000. GSA Capital Partners LLP owned approximately 0.54% of Solo Brands at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Parkside Financial Bank & Trust purchased a new position in shares of Solo Brands in the fourth quarter valued at approximately $25,000. Janney Montgomery Scott LLC increased its holdings in shares of Solo Brands by 10.2% in the first quarter. Janney Montgomery Scott LLC now owns 115,837 shares of the company’s stock valued at $251,000 after purchasing an additional 10,722 shares during the last quarter. Balboa Wealth Partners acquired a new stake in shares of Solo Brands in the fourth quarter valued at approximately $72,000. Tower Research Capital LLC TRC increased its holdings in shares of Solo Brands by 345.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 18,259 shares of the company’s stock valued at $112,000 after purchasing an additional 14,163 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC acquired a new stake in shares of Solo Brands in the fourth quarter valued at approximately $97,000. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Solo Brands Price Performance

NYSE:DTC traded down $0.01 during midday trading on Wednesday, reaching $2.10. The company had a trading volume of 33,597 shares, compared to its average volume of 706,493. The stock’s fifty day simple moving average is $2.02 and its 200-day simple moving average is $2.55. Solo Brands, Inc. has a 12-month low of $1.74 and a 12-month high of $6.67. The company has a current ratio of 2.80, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45.

Solo Brands (NYSE:DTC) last released its earnings results on Thursday, May 9th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $85.32 million during the quarter, compared to analyst estimates of $80.48 million. Solo Brands had a positive return on equity of 6.99% and a negative net margin of 23.52%. During the same period last year, the business posted $0.09 earnings per share. As a group, sell-side analysts expect that Solo Brands, Inc. will post 0.33 EPS for the current fiscal year.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on DTC shares. Jefferies Financial Group cut their target price on Solo Brands from $4.00 to $3.05 and set a “hold” rating for the company in a research note on Friday, March 15th. Canaccord Genuity Group lowered their price target on Solo Brands from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Piper Sandler restated a “neutral” rating and set a $3.00 price target (down from $4.00) on shares of Solo Brands in a research report on Friday, March 15th. Finally, B. Riley restated a “neutral” rating and set a $2.20 price target (down from $4.00) on shares of Solo Brands in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $3.54.

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.