Cerity Partners LLC Acquires Shares of 247,897 BRC Inc. (NYSE:BRCC)

Key Points

• Cerity Partners LLC invested approximately $518,000 in BRC Inc. by acquiring 247,897 shares in the first quarter, representing about 0.12% of the company.
• Insider transactions included significant purchases by Director Glenn W. Welling and Stephen M. Kadenacy, accumulating a total of 576,000 shares worth $720,000 in 90 days.
• Analysts have set varying price targets for BRC, with Roth Capital at $2.00 and Telsey Advisory Group at $4.00, noting a current stock price of $2.04.

Cerity Partners LLC acquired a new stake in BRC Inc. (NYSE:BRCC - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 247,897 shares of the company's stock, valued at approximately $518,000. Cerity Partners LLC owned 0.12% of BRC as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in BRC in the 4th quarter valued at $30,000. Ameriprise Financial Inc. acquired a new stake in shares of BRC during the fourth quarter worth approximately $47,000. ProShare Advisors LLC acquired a new stake in BRC in the 4th quarter valued at about $47,000. Deerfield Management Company L.P. Series C acquired a new stake in BRC in the 4th quarter valued at about $48,000. Finally, Virtu Financial LLC acquired a new stake in shares of BRC during the 4th quarter worth approximately $54,000. Institutional investors and hedge funds own 16.29% of the company's stock.

BRC Stock Performance

BRCC traded up $0.14 during trading on Friday, reaching $2.04. The company had a trading volume of 1,008,748 shares, compared to its average volume of 1,157,043. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.61 and a current ratio of 1.30. BRC Inc. has a 12 month low of $1.19 and a 12 month high of $5.81. The business's fifty day moving average price is $1.64 and its 200 day moving average price is $2.10.

BRC (NYSE:BRCC - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). BRC had a negative net margin of 1.67% and a negative return on equity of 2.09%. The company had revenue of $89.97 million during the quarter, compared to the consensus estimate of $88.08 million. As a group, sell-side analysts anticipate that BRC Inc. will post -0.02 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Roth Capital set a $2.00 price objective on shares of BRC and gave the company a "neutral" rating in a report on Wednesday, May 7th. Telsey Advisory Group restated an "outperform" rating and set a $4.00 price objective on shares of BRC in a report on Thursday, July 17th.

Insider Transactions at BRC

In other BRC news, Director Evan Hafer acquired 80,000 shares of the business's stock in a transaction dated Friday, July 18th. The shares were acquired at an average price of $1.25 per share, with a total value of $100,000.00. Following the completion of the transaction, the director directly owned 80,000 shares in the company, valued at $100,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen M. Kadenacy acquired 80,000 shares of the business's stock in a transaction dated Friday, July 18th. The stock was acquired at an average cost of $1.25 per share, for a total transaction of $100,000.00. Following the transaction, the director owned 1,068,482 shares of the company's stock, valued at $1,335,602.50. This represents a 8.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 576,000 shares of company stock valued at $720,000 over the last 90 days. 69.00% of the stock is owned by corporate 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.