BRC Inc. $BRCC Shares Acquired by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its holdings in BRC Inc. by 204.5%, acquiring an additional 437,359 shares to own a total of 651,251 shares valued at approximately $1.36 million.
• BRC Inc. reported a loss of $0.07 EPS for the last quarter, missing analysts' expectations, despite revenue of $94.84 million surpassing estimates.
• Insiders have been actively purchasing shares, with Director Glenn W. Welling buying 400,000 shares at an average cost of $1.25 per share, increasing his stake significantly.

Goldman Sachs Group Inc. increased its stake in shares of BRC Inc. (NYSE:BRCC - Free Report) by 204.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 651,251 shares of the company's stock after buying an additional 437,359 shares during the quarter. Goldman Sachs Group Inc. owned about 0.31% of BRC worth $1,361,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cresset Asset Management LLC lifted its position in BRC by 5.6% during the first quarter. Cresset Asset Management LLC now owns 3,297,158 shares of the company's stock worth $6,891,000 after buying an additional 175,343 shares in the last quarter. Millennium Management LLC lifted its position in BRC by 1,018.3% during the fourth quarter. Millennium Management LLC now owns 1,798,148 shares of the company's stock worth $5,700,000 after buying an additional 1,637,357 shares in the last quarter. Cerity Partners LLC purchased a new position in BRC during the first quarter worth approximately $518,000. Northern Trust Corp lifted its position in BRC by 2.2% during the fourth quarter. Northern Trust Corp now owns 417,230 shares of the company's stock worth $1,323,000 after buying an additional 8,790 shares in the last quarter. Finally, State of Wyoming lifted its position in BRC by 599.7% during the fourth quarter. State of Wyoming now owns 66,680 shares of the company's stock worth $211,000 after buying an additional 57,150 shares in the last quarter. Hedge funds and other institutional investors own 16.29% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on BRCC. Telsey Advisory Group reissued an "outperform" rating and set a $4.00 target price on shares of BRC in a research note on Tuesday, August 5th. Wall Street Zen cut BRC from a "hold" rating to a "sell" rating in a research note on Sunday. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $2.88.

Insiders Place Their Bets

In other BRC news, Director Stephen M. Kadenacy acquired 80,000 shares of the stock in a transaction dated Friday, July 18th. The stock was acquired at an average cost of $1.25 per share, with a total value of $100,000.00. Following the transaction, the director owned 1,068,482 shares in the company, valued at $1,335,602.50. The trade was a 8.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Evan Hafer acquired 80,000 shares of the stock in a transaction dated Friday, July 18th. The shares were acquired at an average cost of $1.25 per share, with a total value of $100,000.00. Following the completion of the transaction, the director owned 80,000 shares in the company, valued at approximately $100,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 676,000 shares of company stock valued at $851,000. 73.80% of the stock is owned by insiders.

BRC Stock Up 1.0%

BRCC traded up $0.02 on Tuesday, hitting $1.57. 409,373 shares of the company were exchanged, compared to its average volume of 806,484. BRC Inc. has a twelve month low of $1.19 and a twelve month high of $3.61. The company has a market cap of $388.48 million, a price-to-earnings ratio of -10.45 and a beta of 0.93. The company has a current ratio of 1.29, a quick ratio of 0.70 and a debt-to-equity ratio of 1.97. The firm has a 50-day moving average price of $1.62 and a two-hundred day moving average price of $1.78.

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 the consensus estimate 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 company 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. On average, equities analysts predict that BRC Inc. will post -0.02 earnings per share for the current year.

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.