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 raised its stake in BRC Inc. (NYSE:BRCC - Free Report) by 5.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,297,158 shares of the company's stock after purchasing an additional 175,343 shares during the period. Cresset Asset Management LLC owned 1.55% of BRC worth $6,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BRCC. Millennium Management LLC grew its stake in BRC by 1,018.3% in the fourth quarter. Millennium Management LLC now owns 1,798,148 shares of the company's stock valued at $5,700,000 after purchasing an additional 1,637,357 shares during the last quarter. D. E. Shaw & Co. Inc. grew its stake in BRC by 697.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 445,764 shares of the company's stock valued at $1,413,000 after purchasing an additional 389,833 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in BRC in the fourth quarter valued at about $872,000. Cerity Partners LLC purchased a new position in BRC in the first quarter valued at about $518,000. Finally, Nuveen LLC purchased a new position in BRC in the first quarter valued at about $257,000. Hedge funds and other institutional investors own 16.29% of the company's stock.

Insider Transactions at BRC

In other news, Director Stephen M. Kadenacy bought 80,000 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was purchased at an average price of $1.25 per share, with a total value of $100,000.00. Following the completion of the acquisition, the director directly owned 1,068,482 shares of the company's stock, valued at $1,335,602.50. This trade represents a 8.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glenn W. Welling purchased 400,000 shares of the firm's stock in a transaction on Friday, July 18th. The stock was bought at an average cost of $1.25 per share, with a total value of $500,000.00. Following the completion of the acquisition, the director directly owned 13,935,560 shares of the company's stock, valued at $17,419,450. This trade represents a 2.96% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 676,000 shares of company stock worth $851,000. 69.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Roth Capital set a $2.00 price target on BRC and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Telsey Advisory Group restated an "outperform" rating and set a $4.00 price target on shares of BRC in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, BRC presently has a consensus rating of "Moderate Buy" and an average price target of $2.88.

BRC Stock Performance

Shares of BRC stock traded up $0.0850 on Friday, reaching $1.5350. 770,158 shares of the stock were exchanged, compared to its average volume of 969,804. The company has a quick ratio of 0.70, a current ratio of 1.29 and a debt-to-equity ratio of 1.97. BRC Inc. has a twelve month low of $1.19 and a twelve month high of $4.65. The firm has a market capitalization of $381.03 million, a price-to-earnings ratio of -10.23 and a beta of 0.93. The business has a 50 day moving average price of $1.56 and a two-hundred day moving average price of $1.92.

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

About BRC

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.