BRC (NYSE:BRCC) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• Q1 beat: BRC reported EPS of $0.00, beating the consensus of ($0.01) by $0.01 and posted revenue of $109.23M vs. a $96.95M estimate, sparking a roughly 49.2% intraday jump to $1.63 on elevated volume.
• Insider activity and profitability risk: Director Steven Taslitz purchased 150,000 shares at $0.75 (increasing his stake 33.25%) and insiders own 54.87% of the stock, while the company remains unprofitable with ROE of -21.46% and a net margin of -2.99%.

BRC (NYSE:BRCC - Get Free Report) released its quarterly earnings results on Monday. The company reported $0.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.01, reports. BRC had a negative return on equity of 21.46% and a negative net margin of 2.99%.The business had revenue of $109.23 million during the quarter, compared to the consensus estimate of $96.95 million.

BRC Trading Up 49.2%

BRCC traded up $0.54 during midday trading on Tuesday, hitting $1.63. 2,148,061 shares of the company were exchanged, compared to its average volume of 908,989. The firm's 50 day moving average price is $0.85 and its 200-day moving average price is $1.02. The company has a quick ratio of 0.67, a current ratio of 1.32 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $404.39 million, a P/E ratio of -11.61 and a beta of 1.03. BRC has a 1-year low of $0.60 and a 1-year high of $2.10.

Insider Activity

In related news, Director Steven Taslitz purchased 150,000 shares of the firm's stock in a transaction that occurred on Thursday, March 5th. The stock was acquired at an average price of $0.75 per share, for a total transaction of $112,500.00. Following the completion of the acquisition, the director owned 601,184 shares of the company's stock, valued at $450,888. This represents a 33.25% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 54.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LLC lifted its holdings in shares of BRC by 139.5% during the fourth quarter. Corient Private Wealth LLC now owns 59,064 shares of the company's stock valued at $66,000 after purchasing an additional 34,400 shares during the last quarter. Invesco Ltd. lifted its position in shares of BRC by 96.1% during the 4th quarter. Invesco Ltd. now owns 30,140 shares of the company's stock worth $33,000 after purchasing an additional 14,769 shares during the last quarter. Zazove Associates LLC raised its stake in BRC by 117.5% in the fourth quarter. Zazove Associates LLC now owns 539,454 shares of the company's stock valued at $599,000 after buying an additional 291,433 shares in the last quarter. Bridgeway Capital Management LLC acquired a new position in shares of BRC during the 4th quarter worth about $146,000. Finally, QVIDTVM Management LLC raised its position in shares of BRC by 1.8% during the 4th quarter. QVIDTVM Management LLC now owns 3,400,681 shares of the company's stock worth $3,775,000 after acquiring an additional 60,000 shares in the last quarter. Institutional investors own 16.29% of the company's stock.

Analyst Upgrades and Downgrades

BRCC has been the topic of a number of analyst reports. DA Davidson set a $2.50 target price on shares of BRC in a research report on Wednesday, January 14th. Telsey Advisory Group restated an "outperform" rating and set a $2.50 price objective on shares of BRC in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of BRC in a report on Monday, April 20th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $2.33.

About BRC

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.