BRC (NYSE:BRCC) Insider Sells 5,572 Shares of Company Stock

Key Points

• Insider selling: Evan Hafer sold 5,572 BRCC shares at an average price of $10.59, totaling $59,007.48, under a pre-arranged Rule 10b5-1 plan. He also sold 18,228 shares in three transactions earlier in October.
• Stock performance: BRCC traded at $10.60, with a market capitalization of approximately $265 million. The stock has ranged from $6.00 to $18.55 over the past year and is trading below its 200-day moving average.
• Analyst outlook: Analysts give BRCC a consensus “Moderate Buy” rating with a $22.50 price target, though one firm maintains a sell rating. Institutional investors own 16.29% of the company.

BRC Inc. (NYSE:BRCC - Get Free Report) insider Evan Hafer sold 5,572 shares of the business's stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $10.59, for a total transaction of $59,007.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Evan Hafer also recently made the following trade(s):

• On Friday, October 16th, Evan Hafer sold 2,724 shares of BRC stock. The stock was sold at an average price of $10.56, for a total transaction of $28,765.44.
• On Thursday, October 15th, Evan Hafer sold 15,304 shares of BRC stock. The stock was sold at an average price of $10.62, for a total transaction of $162,528.48.
• On Tuesday, October 13th, Evan Hafer sold 200 shares of BRC stock. The shares were sold at an average price of $10.51, for a total transaction of $2,102.00.

BRC Price Performance

BRCC traded up $0.60 during trading on Tuesday, hitting $10.60. 177,718 shares of the company traded hands, compared to its average volume of 111,647. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.40. The company has a market cap of $265.22 million, a PE ratio of -35.32 and a beta of 1.25. The stock's 50-day simple moving average is $9.02 and its two-hundred day simple moving average is $10.98. BRC Inc. has a 1 year low of $6.00 and a 1 year high of $18.55.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Zazove Associates LLC increased its position in BRC by 270.7% in the first quarter. Zazove Associates LLC now owns 2,000,000 shares of the company's stock worth $1,552,000 after purchasing an additional 1,460,546 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in BRC during the first quarter valued at $232,000. Modera Wealth Management LLC bought a new position in BRC during the first quarter valued at $78,000. Kestra Advisory Services LLC lifted its position in BRC by 63.0% during the first quarter. Kestra Advisory Services LLC now owns 69,001 shares of the company's stock valued at $54,000 after purchasing an additional 26,672 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in BRC by 53.8% during the second quarter. Squarepoint Ops LLC now owns 72,944 shares of the company's stock valued at $81,000 after purchasing an additional 25,519 shares during the last quarter. 16.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BRCC. Craig Hallum initiated coverage on BRC in a research report on Monday, August 3rd. They set a "buy" rating and a $17.50 price objective for the company. Weiss Ratings cut BRC from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, August 4th. Finally, DA Davidson boosted their target price on BRC from $2.50 to $25.00 and gave the stock a "buy" rating in a research report on Monday, August 31st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $22.50.

BRC Company Profile

Black Rifle Coffee Company NYSE: BRCC is a veteran-founded coffee and lifestyle company focused on producing, marketing and selling premium coffee and related products. Its offerings include whole-bean and ground coffee, single-serve options, ready-to-drink beverages and other packaged drinks.

The company sells its products through its e-commerce platform, subscription-based Coffee Club, wholesale and retail partners, and its own coffee shop locations. It also offers branded apparel, merchandise and gear, supported by media and content aimed at military, veteran, first-responder and outdoor communities.

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