BRC Inc. $BRCC Shares Bought by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC increased its stake in BRC Inc. by 5.6%, owning a total of 3,297,158 shares valued at approximately $6.89 million.
• Institutional investors now own 16.29% of BRC Inc.'s stock, with significant purchases made by firms like Millennium Management and D. E. Shaw & Co..
• Analysts have varying ratings for BRC Inc., with Telsey Advisory Group maintaining an "outperform" rating and a price target of $4.00, while Roth Capital set a lower target at $2.00.

Cresset Asset Management LLC increased its position in shares of BRC Inc. (NYSE:BRCC - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,297,158 shares of the company's stock after buying an additional 175,343 shares during the quarter. Cresset Asset Management LLC owned about 1.55% of BRC worth $6,891,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of BRC during the 4th quarter valued at approximately $30,000. Ameriprise Financial Inc. purchased a new stake in shares of BRC during the 4th quarter valued at approximately $47,000. ProShare Advisors LLC purchased a new stake in shares of BRC during the 4th quarter valued at approximately $47,000. Deerfield Management Company L.P. Series C purchased a new stake in shares of BRC during the 4th quarter valued at approximately $48,000. Finally, Wolverine Trading LLC raised its position in shares of BRC by 48.3% during the 4th quarter. Wolverine Trading LLC now owns 18,221 shares of the company's stock valued at $56,000 after buying an additional 5,936 shares during the period. Hedge funds and other institutional investors own 16.29% of the company's stock.

BRC Stock Up 5.9%

Shares of NYSE:BRCC traded up $0.0850 during trading on Friday, hitting $1.5350. The company's stock had a trading volume of 634,774 shares, compared to its average volume of 797,710. The company has a market capitalization of $381.03 million, a PE ratio of -10.23 and a beta of 0.93. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.70 and a current ratio of 1.29. BRC Inc. has a fifty-two week low of $1.19 and a fifty-two week high of $4.65. The business has a 50 day moving average price of $1.56 and a two-hundred day moving average price of $1.93.

BRC (NYSE:BRCC - Get Free Report) last released its earnings results on Monday, August 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.04). BRC had a negative net margin of 2.89% and a negative return on equity of 12.88%. The company had revenue of $94.84 million during the quarter, compared to analysts' expectations of $91.78 million. BRC has set its FY 2025 guidance at EPS. As a group, research analysts expect that BRC Inc. will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Steven Taslitz bought 100,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average cost of $1.31 per share, with a total value of $131,000.00. Following the purchase, the director directly owned 1,786,203 shares of the company's stock, valued at $2,339,925.93. This trade represents a 5.93% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Glenn W. Welling bought 400,000 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were purchased at an average price of $1.25 per share, with a total value of $500,000.00. Following the purchase, the director owned 13,935,560 shares of the company's stock, valued at approximately $17,419,450. This represents a 2.96% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 676,000 shares of company stock valued at $851,000. Company insiders own 69.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BRCC. Telsey Advisory Group reissued an "outperform" rating and issued a $4.00 target price on shares of BRC in a research report on Tuesday, August 5th. Roth Capital set a $2.00 target price on BRC and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, BRC currently has an average rating of "Moderate Buy" and a consensus target price of $2.88.

BRC Company 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.