Brilliant Earth Group (NASDAQ:BRLT) Shares Down 6.6% - Time to Sell?

Key Points

• Brilliant Earth Group's stock price dropped 6.6% to $2.11, with trading volume down 92% from its average.
• Research firms have issued various ratings, with Zacks Research downgrade to a "strong sell" and a target price of $1.80.
• The company announced a dividend of $0.25 per share to be paid on September 8th for stockholders of record on August 22nd.

Brilliant Earth Group, Inc. (NASDAQ:BRLT - Get Free Report)'s share price fell 6.6% during trading on Friday . The stock traded as low as $1.95 and last traded at $2.11. 266,629 shares were traded during trading, a decline of 92% from the average session volume of 3,253,857 shares. The stock had previously closed at $2.26.

Wall Street Analyst Weigh In

Several research firms recently commented on BRLT. Zacks Research downgraded Brilliant Earth Group from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th. Cowen restated a "hold" rating on shares of Brilliant Earth Group in a research report on Friday, August 8th. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $2.00 price objective on shares of Brilliant Earth Group in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Brilliant Earth Group has a consensus rating of "Reduce" and an average price target of $1.80.

Brilliant Earth Group Stock Performance

The business has a 50-day moving average price of $1.62 and a two-hundred day moving average price of $1.52.

Brilliant Earth Group Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, September 8th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Friday, August 22nd.

Institutional Investors Weigh In On Brilliant Earth Group

A number of institutional investors and hedge funds have recently made changes to their positions in BRLT. Jane Street Group LLC bought a new stake in shares of Brilliant Earth Group during the fourth quarter worth $25,000. XTX Topco Ltd bought a new stake in Brilliant Earth Group in the fourth quarter valued at about $38,000. Millennium Management LLC bought a new stake in Brilliant Earth Group in the fourth quarter valued at about $65,000. Mariner LLC bought a new stake in Brilliant Earth Group in the fourth quarter valued at about $105,000. Finally, Northern Trust Corp increased its holdings in Brilliant Earth Group by 64.0% in the fourth quarter. Northern Trust Corp now owns 73,024 shares of the company's stock valued at $153,000 after purchasing an additional 28,505 shares during the last quarter. Institutional investors own 70.41% of the company's stock.

About Brilliant Earth Group

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.