Riverwater Partners LLC Acquires Shares of 330,492 BRC Inc. (NYSE:BRCC)

Riverwater Partners LLC bought a new position in BRC Inc. (NYSE:BRCC) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 330,492 shares of the company’s stock, valued at approximately $1,091,000.

Other institutional investors also recently modified their holdings of the company. Wasatch Advisors LP increased its position in BRC by 334.0% during the 1st quarter. Wasatch Advisors LP now owns 1,459,418 shares of the company’s stock valued at $6,246,000 after buying an additional 1,123,157 shares in the last quarter. Blair William & Co. IL grew its stake in shares of BRC by 370.2% in the second quarter. Blair William & Co. IL now owns 802,710 shares of the company’s stock worth $4,921,000 after acquiring an additional 632,000 shares during the last quarter. Maso Capital Partners Ltd bought a new position in shares of BRC during the first quarter valued at $2,140,000. Marshall Wace LLP raised its position in shares of BRC by 76.4% in the 2nd quarter. Marshall Wace LLP now owns 812,373 shares of the company’s stock worth $4,980,000 after purchasing an additional 351,757 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in BRC by 131.1% in the 2nd quarter. Renaissance Technologies LLC now owns 419,300 shares of the company’s stock worth $2,570,000 after purchasing an additional 237,869 shares in the last quarter. 16.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BRCC shares. Telsey Advisory Group reduced their price objective on shares of BRC from $8.00 to $6.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Roth Mkm downgraded shares of BRC from a “buy” rating to a “neutral” rating and reduced their price target for the company from $8.00 to $4.00 in a research report on Friday, August 9th. Roth Capital cut BRC from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, DA Davidson reiterated a “buy” rating and set a $5.50 target price on shares of BRC in a research note on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, BRC currently has an average rating of “Moderate Buy” and an average target price of $6.63.

BRC Stock Down 0.6 %

Shares of BRC stock opened at $3.26 on Thursday. BRC Inc. has a twelve month low of $2.60 and a twelve month high of $7.14. The company has a quick ratio of 0.59, a current ratio of 1.07 and a debt-to-equity ratio of 1.01. The company’s 50 day moving average is $3.68 and its 200 day moving average is $4.74. The company has a market cap of $692.15 million, a price-to-earnings ratio of -18.11 and a beta of 1.15.

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

Insider Buying and Selling at BRC

In other BRC news, Director Thomas E. Davin sold 10,884 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $3.81, for a total transaction of $41,468.04. Following the completion of the sale, the director now directly owns 15,851 shares in the company, valued at $60,392.31. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Thomas E. Davin sold 10,884 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $3.81, for a total value of $41,468.04. Following the completion of the sale, the director now directly owns 15,851 shares in the company, valued at $60,392.31. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Evan Hafer sold 1,000,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $3.17, for a total value of $3,170,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,010,884 shares of company stock valued at $12,811,468. 73.80% of the stock is owned by company insiders.

BRC Profile

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.