Brilliant Earth Group, Inc. (NASDAQ:BRLT) Sees Large Decrease in Short Interest

Key Points

• Brilliant Earth Group's short interest fell by 44.7% in August, with a total of 303,700 shares short sold, indicating a short-interest ratio of 0.3 days.
• Institutional ownership of Brilliant Earth Group stands at 70.41%, with significant recent investments from firms like Jane Street Group LLC and Northern Trust Corp.
• The company declared a $0.25 dividend paid on September 8th for shareholders of record on August 22nd.

Brilliant Earth Group, Inc. (NASDAQ:BRLT - Get Free Report) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 303,700 shares, a drop of 44.7% from the August 15th total of 548,800 shares. Currently, 2.3% of the company's stock are sold short. Based on an average daily trading volume, of 1,100,000 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 1,100,000 shares, the days-to-cover ratio is currently 0.3 days. Currently, 2.3% of the company's stock are sold short.

Wall Street Analyst Weigh In

BRLT has been the topic of several research reports. Zacks Research raised shares of Brilliant Earth Group from a "strong sell" rating to a "hold" rating in a research note on Monday. Telsey Advisory Group reiterated a "market perform" rating and set a $2.00 price target on shares of Brilliant Earth Group in a report on Thursday, August 7th. Finally, Cowen reissued a "hold" rating on shares of Brilliant Earth Group in a report on Friday, August 8th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $1.80.

Institutional Investors Weigh In On Brilliant Earth Group

A number of hedge funds have recently bought and sold shares of BRLT. Northern Trust Corp boosted its stake in Brilliant Earth Group by 64.0% during the fourth quarter. Northern Trust Corp now owns 73,024 shares of the company's stock worth $153,000 after buying an additional 28,505 shares during the period. Jane Street Group LLC purchased a new position in shares of Brilliant Earth Group during the fourth quarter valued at approximately $25,000. Millennium Management LLC purchased a new stake in shares of Brilliant Earth Group in the fourth quarter worth approximately $65,000. Finally, Klingman & Associates LLC lifted its position in shares of Brilliant Earth Group by 61.5% during the second quarter. Klingman & Associates LLC now owns 148,273 shares of the company's stock worth $204,000 after purchasing an additional 56,451 shares during the last quarter. Hedge funds and other institutional investors own 70.41% of the company's stock.

Brilliant Earth Group Stock Up 0.2%

BRLT stock traded up $0.00 during trading on Wednesday, reaching $2.38. The company's stock had a trading volume of 91,692 shares, compared to its average volume of 445,903. The company's fifty day moving average is $2.04 and its 200-day moving average is $1.65. Brilliant Earth Group has a 1 year low of $1.25 and a 1 year high of $3.10. The company has a market capitalization of $237.80 million, a P/E ratio of -78.67 and a beta of 1.45.

Brilliant Earth Group Dividend Announcement

The company also recently disclosed a dividend, which was paid on Monday, September 8th. Shareholders of record on Friday, August 22nd were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 22nd.

Brilliant Earth Group Company Profile

Brilliant Earth Group, Inc designs, procures, and sells diamonds, gemstones, and jewelry in the United States and internationally. The company's product assortment and merchandise include a collection of diamond engagement rings, wedding and anniversary rings, gemstone rings, and fine jewelry. It sells directly to consumers through its omnichannel sales platform, including e-commerce and showrooms.