BRC Inc. (NYSE:BRCC) Shares Acquired by Millennium Management LLC

Millennium Management LLC grew its holdings in BRC Inc. (NYSE:BRCC - Free Report) by 1,018.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,798,148 shares of the company's stock after acquiring an additional 1,637,357 shares during the period. Millennium Management LLC owned about 0.85% of BRC worth $5,700,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Graham Capital Management L.P. increased its holdings in BRC by 100.7% in the 4th quarter. Graham Capital Management L.P. now owns 158,815 shares of the company's stock valued at $503,000 after purchasing an additional 79,693 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of BRC by 697.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 445,764 shares of the company's stock worth $1,413,000 after buying an additional 389,833 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in shares of BRC in the fourth quarter valued at about $48,000. Cresset Asset Management LLC raised its holdings in shares of BRC by 4.1% during the 4th quarter. Cresset Asset Management LLC now owns 3,121,815 shares of the company's stock valued at $9,896,000 after buying an additional 121,815 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its position in BRC by 76.4% during the 4th quarter. Cubist Systematic Strategies LLC now owns 175,352 shares of the company's stock worth $556,000 after acquiring an additional 75,973 shares in the last quarter. Institutional investors and hedge funds own 16.29% of the company's stock.

Analysts Set New Price Targets

BRCC has been the subject of several recent research reports. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $4.00 price objective on shares of BRC in a research report on Thursday, May 1st. DA Davidson reiterated a "buy" rating and issued a $3.00 price objective on shares of BRC in a report on Wednesday, March 19th. Roth Mkm reissued a "neutral" rating and issued a $2.50 price objective (down from $3.50) on shares of BRC in a research report on Wednesday, March 5th. Finally, Roth Capital set a $2.00 target price on BRC and gave the stock a "neutral" rating in a research report on Wednesday, May 7th.

BRC Stock Performance

Shares of BRCC traded down $0.06 during mid-day trading on Friday, hitting $1.79. The stock had a trading volume of 530,373 shares, compared to its average volume of 839,542. BRC Inc. has a fifty-two week low of $1.48 and a fifty-two week high of $7.14. The company has a quick ratio of 0.58, a current ratio of 1.14 and a debt-to-equity ratio of 0.92. The company has a market cap of $380.60 million, a PE ratio of -22.31 and a beta of 1.14. The company's fifty day simple moving average is $2.03 and its two-hundred day simple moving average is $2.51.

BRC (NYSE:BRCC - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). BRC had a positive return on equity of 23.35% and a negative net margin of 1.22%. The business had revenue of $89.97 million during the quarter, compared to analyst estimates of $88.08 million. On average, equities analysts expect 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.