Brilliant Earth Group, Inc. (NASDAQ:BRLT) Given Consensus Recommendation of "Reduce" by Analysts

Key Points

• Analysts assign Brilliant Earth Group a consensus “Reduce” rating: One analyst recommends selling while seven rate the stock as a hold. The average 12-month price target is $1.7375.
• Insider selling continued: Director Gavin Turner sold 50,000 shares for $64,500, while insiders sold 88,356 shares worth approximately $104,807 over the past 90 days.
• BRLT recently reported quarterly revenue of $115.11 million, exceeding the $111.39 million consensus estimate, and earnings of $0.03 per share. Shares opened at $1.33, with a 12-month range of $1.00 to $3.10.

Shares of Brilliant Earth Group, Inc. (NASDAQ:BRLT - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the eight brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $1.7375.

Separately, Weiss Ratings upgraded shares of Brilliant Earth Group from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, August 13th.

Insider Activity

In other news, Director Gavin Turner sold 50,000 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $1.29, for a total value of $64,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 88,356 shares of company stock valued at $104,807 in the last ninety days. 83.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Brilliant Earth Group

Several institutional investors and hedge funds have recently bought and sold shares of BRLT. Virtu Financial LLC purchased a new stake in shares of Brilliant Earth Group in the third quarter worth approximately $32,000. Algert Global LLC purchased a new position in Brilliant Earth Group during the third quarter valued at approximately $40,000. Squarepoint Ops LLC purchased a new position in Brilliant Earth Group during the third quarter valued at approximately $81,000. Millennium Management LLC acquired a new position in Brilliant Earth Group in the 3rd quarter valued at approximately $84,000. Finally, Susquehanna International Group LLP increased its stake in Brilliant Earth Group by 257.0% in the 3rd quarter. Susquehanna International Group LLP now owns 52,474 shares of the company's stock valued at $109,000 after buying an additional 37,774 shares during the period. Hedge funds and other institutional investors own 70.41% of the company's stock.

Brilliant Earth Group Price Performance

Shares of NASDAQ BRLT opened at $1.33 on Monday. Brilliant Earth Group has a 12 month low of $1.00 and a 12 month high of $3.10. The company has a market cap of $135.42 million, a price-to-earnings ratio of -4.59 and a beta of 1.38. The business has a fifty day simple moving average of $1.16 and a 200-day simple moving average of $1.29.

Brilliant Earth Group (NASDAQ:BRLT - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter. Brilliant Earth Group had a negative return on equity of 15.48% and a negative net margin of 0.66%.The firm had revenue of $115.11 million for the quarter, compared to the consensus estimate of $111.39 million. As a group, sell-side analysts expect that Brilliant Earth Group will post 0.02 EPS for the current fiscal year.

About Brilliant Earth Group

Brilliant Earth Group, Inc NASDAQ: BRLT is a specialty retailer of ethically sourced fine jewelry, with a focus on conflict-free diamonds and lab-grown gemstones. The company offers a broad range of products that include engagement rings, wedding bands, necklaces, earrings and bracelets, all crafted with a commitment to environmental sustainability and social responsibility. Customers can choose from a variety of materials such as recycled precious metals, responsibly sourced gemstones and innovative lab-grown diamonds.

Operating primarily through its e-commerce platform and a network of branded showrooms across major U.S.

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